Exhibit 99.1

P.F. CHANG’S EARNS $0.25 PER SHARE

SCOTTSDALE, Arizona, October 22, 2003 – P.F. Chang’s China Bistro, Inc. (NASDAQ:PFCB) today reported earnings of $6.5 million for the third quarter ended September 28, 2003 compared to $4.4 million in the third quarter of the prior year. Earnings per share for the third quarter increased to $0.25 from $0.17 in the third quarter of the prior year.

(000 except per share data)	3Q03		2Q03		3Q02
Revenues	$	139,729	$	136,605	$	107,052
Net Income	$	6,477	$	7,077	$	4,417
Diluted Earnings Per Share	$	0.25	$	0.27	$	0.17
Shares Used in EPS calculation		26,331		26,228		25,841

2003 Expectations

The company anticipates opening 18 new Bistro units (twelve of which are already open) and 17 new Pei Wei units (fourteen of which are already open) in 2003. Based on this development schedule, and assuming comparable store sales growth at the Bistro units of 2% to 3% for the fourth quarter of this year, the company expects consolidated revenues of $558 million in fiscal 2003, a 32% increase over fiscal 2002. The company has increased its estimate of preopening costs at the Bistro in the fourth quarter of 2003 by approximately $400,000 to reflect higher preopening costs for the new units opening in the fourth quarter given current cost trends as well as additional costs associated with earlier than anticipated opening dates for certain 2004 units. Accordingly, net income is anticipated to be $27.7 million, which equates to earnings per share of $1.06. Included in these estimates is the expectation that Pei Wei Asian Diner will be slightly profitable for the year. The company will release its fourth quarter 2003 revenue results on December 31, 2003 and its fourth quarter 2003 earnings results on February 11, 2004.

Page 1 of 11

2004 Expectations

The company anticipates opening 16 to 18 new Bistro units and 19 to 21 new Pei Wei units in 2004. Based on this development schedule, and given the slight increase in new store weeks at the Bistro for the first quarter openings noted above, the company expects consolidated revenues of $697 million, net income of $36 million and earnings per share of $1.32. Included in these estimates is the assumption that Pei Wei Asian Diner will be slightly profitable in 2004. The company will have one additional week in fiscal 2004 (a 53 week year versus the typical 52 week year) which is not reflected in the full-year estimates noted above.

The company is hosting a conference call today at 1:00 pm ET in which management will provide further details on the third quarter results as well as an outlook for future periods. A webcast of the call can be accessed through the company’s website at http://www.pfchangs.com.

P.F. Chang’s China Bistro, Inc. owns and operates two restaurant concepts in the Asian niche. P.F. Chang’s China Bistro features a blend of high-quality, traditional Chinese cuisine and American hospitality in a sophisticated, contemporary bistro setting. Pei Wei Asian Diner offers a modest menu of freshly prepared Asian cuisine in a relaxed, warm environment offering attentive counter service and take-out flexibility.

The statements contained in this press release that are not purely historical, including the company’s estimates of its revenues, earnings and comparable sales, as well as statements concerning the company’s development schedule, are forward looking statements. The accuracy of these forward-looking statements may be affected by certain risks and uncertainties, including, but not limited to, the company’s ability to operate its restaurants profitably; the company’s ability to hire, train and retain skilled management and other personnel; changes in consumer tastes and trends, and national, regional and local economic and weather conditions; changes in costs related to food, utilities and labor; and other risks described in the company’s recent SEC filings. In addition, the supplemental sales information is provided to investors to help gauge the company’s performance and is not indicative of future results.

Contact:	P.F. Chang’s China Bistro, Inc.	(602) 957-8986
	Media:	Laura Cherry	laurac@pfchangs.com
	Investor:	Kristina Cashman	kristinac@pfchangs.com

Page 2 of 11

P.F. Chang’s China Bistro, Inc.

Consolidated Statements of Income
(In thousands, except per share amounts)
(Unaudited)

	13 Weeks Ended			13 Weeks Ended			13 Weeks Ended
	Sep 28			Jun 29			Sep 29
	2003			2003			2002
Revenues	$	139,729		$	136,605		$	107,052
Cost of sales		38,460			37,207			28,631
Labor		43,726			42,776			34,187
Operating		23,316			22,772			18,191
Occupancy		7,711			7,617			6,426
Restaurant operating profit		26,516			26,233			19,617
General & administrative		6,897			7,345			5,304
Depreciation & amortization		4,827			4,646			3,673
Preopening expenses		2,627			1,176			2,340
Income from operations		12,165			13,066			8,300
Interest (expense) income and other income		(69	)		(3	)		33
Minority interests		(2,305	)		(2,340	)		(1,547	)
Income before provision for income taxes		9,791			10,723			6,786
Provision for income taxes		(3,314	)		(3,646	)		(2,369	)
Net income	$	6,477		$	7,077		$	4,417
Basic net income per share	$	0.25		$	0.28		$	0.18
Diluted net income per share	$	0.25		$	0.27		$	0.17
Shares used in calculation of basic EPS		25,414			25,338			24,944
Shares used in calculation of diluted EPS		26,331			26,228			25,841

	Percentage of Revenues
	Sep 28			Jun 29			Sep 29
	2003			2003			2002
Revenues		100.0	%		100.0	%		100.0	%
Cost of sales		27.5	%		27.2	%		26.7	%
Labor		31.3	%		31.3	%		31.9	%
Operating		16.7	%		16.7	%		17.0	%
Occupancy		5.5	%		5.6	%		6.0	%
Restaurant operating profit		19.0	%		19.2	%		18.3	%
General & administrative		4.9	%		5.4	%		5.0	%
Depreciation & amortization		3.5	%		3.4	%		3.4	%
Preopening expenses		1.9	%		0.9	%		2.2	%
Income from operations		8.7	%		9.6	%		7.8	%
Interest (expense) income and other income		0.0	%		0.0	%		0.0	%
Minority interests		-1.6	%		-1.7	%		-1.4	%
Income before provision for income taxes		7.0	%		7.8	%		6.3	%
Provision for income taxes		-2.4	%		-2.7	%		-2.2	%
Net income		4.6	%		5.2	%		4.1	%

Certain percentage amounts do not sum to total due to rounding.

Page 3 of 11

P.F. Chang’s China Bistro, Inc.

Consolidated Statements of Income
(In thousands, except per share amounts)
(Unaudited)

	39 Weeks Ended			39 Weeks Ended
	Sep 28			Sep 29
	2003			2002
Revenues	$	407,929		$	306,202
Cost of sales		110,916			81,784
Labor		128,170			96,992
Operating		67,696			51,249
Occupancy		22,747			18,769
Restaurant operating profit		78,400			57,408
General & administrative		21,024			15,720
Depreciation & amortization		13,761			10,495
Preopening expenses		5,787			4,438
Income from operations		37,828			26,755
Interest (expense) income and other income		(31	)		6
Minority interests		(6,985	)		(4,602	)
Income before provision for income taxes		30,812			22,159
Provision for income taxes		(10,461	)		(7,749	)
Net income	$	20,351		$	14,410
Basic net income per share	$	0.80		$	0.59
Diluted net income per share	$	0.78		$	0.56
Shares used in calculation of basic EPS		25,296			24,583
Shares used in calculation of diluted EPS		26,199			25,914

	Sep 28			Sep 29
	2003			2002
Revenues		100.0	%		100.0	%
Cost of sales		27.2	%		26.7	%
Labor		31.4	%		31.7	%
Operating		16.6	%		16.7	%
Occupancy		5.6	%		6.1	%
Restaurant operating profit		19.2	%		18.7	%
General & administrative		5.2	%		5.1	%
Depreciation & amortization		3.4	%		3.4	%
Preopening expenses		1.4	%		1.4	%
Income from operations		9.3	%		8.7	%
Interest income and other income		0.0	%		0.0	%
Minority interests		-1.7	%		-1.5	%
Income before provision for income taxes		7.6	%		7.2	%
Provision for income taxes		-2.6	%		-2.5	%
Net income		5.0	%		4.7	%

Certain percentage amounts do not sum to total due to rounding.

Page 4 of 11

P.F. Chang’s China Bistro, Inc.

Supplemental Financial Information
(In thousands, except per share amounts)
(Unaudited)

	13 Weeks Ended Sep 28, 2003
	Total			Bistro			Pei Wei
Revenues	$	139,729		$	125,745		$	13,984
Cost of sales		38,460			34,347			4,113
Labor		43,726			39,143			4,583
Operating		23,316			21,118			2,198
Occupancy		7,711			6,785			926
Restaurant operating profit		26,516			24,352			2,164
General & administrative		6,897			5,868			1,029
Depreciation & amortization		4,827			4,284			543
Preopening expenses		2,627			2,033			594
Income from operations		12,165			12,167			(2	)
Interest (expense) income and other income		(69	)		(69	)		(0	)
Minority interests		(2,305	)		(2,145	)		(160	)
Income before provision for income taxes		9,791			9,953			(162	)
Provision for income taxes		(3,314	)
Net income	$	6,477
Basic net income per share	$	0.25
Diluted net income per share	$	0.25
Shares used in calculation of basic EPS		25,414
Shares used in calculation of diluted EPS		26,331

	Percentage of Revenues
	Total			Bistro			Pei Wei
Revenues		100.0	%		100.0	%		100.0	%
Cost of sales		27.5	%		27.3	%		29.4	%
Labor		31.3	%		31.1	%		32.8	%
Operating		16.7	%		16.8	%		15.7	%
Occupancy		5.5	%		5.4	%		6.6	%
Restaurant operating profit		19.0	%		19.4	%		15.5	%
General & administrative		4.9	%		4.7	%		7.4	%
Depreciation & amortization		3.5	%		3.4	%		3.9	%
Preopening expenses		1.9	%		1.6	%		4.2	%
Income from operations		8.7	%		9.7	%		0.0	%
Interest (expense) income and other income		0.0	%		-0.1	%		0.0	%
Minority interests		-1.6	%		-1.7	%		-1.1	%
Income before provision for income taxes		7.0	%		7.9	%		-1.2	%
Provision for income taxes		-2.4	%
Net income		4.6	%

Certain percentage amounts do not sum to total due to rounding.

Page 5 of 11

P.F. Chang’s China Bistro, Inc.

Supplemental Financial Information
(In thousands, except per share amounts)
(Unaudited)

	39 Weeks Ended September 28, 2003
	Total			Bistro			Pei Wei
Revenues	$	407,929		$	370,404		$	37,525
Cost of sales		110,916			99,948			10,968
Labor		128,170			115,871			12,299
Operating		67,696			61,892			5,804
Occupancy		22,747			20,281			2,466
Restaurant operating profit		78,400			72,412			5,988
General & administrative		21,024			18,229			2,795
Depreciation & amortization		13,761			12,347			1,414
Preopening expenses		5,787			4,568			1,219
Income from operations		37,828			37,268			560
Interest income and other income		(31	)		(36	)		5
Minority interests		(6,985	)		(6,521	)		(464	)
Income before provision for income taxes		30,812			30,711			101
Provision for income taxes		(10,461	)
Net income	$	20,351
Basic net income per share	$	0.80
Diluted net income per share	$	0.78
Shares used in calculation of basic EPS		25,296
Shares used in calculation of diluted EPS		26,199

	Percentage of Revenues
	Total			Bistro			Pei Wei
Revenues		100.0	%		100.0	%		100.0	%
Cost of sales		27.2	%		27.0	%		29.2	%
Labor		31.4	%		31.3	%		32.8	%
Operating		16.6	%		16.7	%		15.5	%
Occupancy		5.6	%		5.5	%		6.6	%
Restaurant operating profit		19.2	%		19.5	%		16.0	%
General & administrative		5.2	%		4.9	%		7.4	%
Depreciation & amortization		3.4	%		3.3	%		3.8	%
Preopening expenses		1.4	%		1.2	%		3.2	%
Income from operations		9.3	%		10.1	%		1.5	%
Interest income and other income		0.0	%		0.0	%		0.0	%
Minority interests		-1.7	%		-1.8	%		-1.2	%
Income before provision for income taxes		7.6	%		8.3	%		0.3	%
Provision for income taxes		-2.6	%
Net income		5.0	%

Certain percentage amounts do not sum to total due to rounding.

Page 6 of 11

P.F.Chang’s China Bistro

Supplemental Sales Information

Year of Unit Opening (1)

	Pre-1996			1996			1997			1998			1999			2000			2001			2002			2003		Total
Units		4			3			6			10			13			16			13			14			11		90
Sales (000)
1Q03		6,434			5,908			9,060			15,753			18,800			23,236			18,815			17,983			4,751		120,740
2Q03		6,238			5,955			9,180			15,545			19,037			23,754			18,576			17,214			8,420		123,919
3Q03		6,190			5,970			8,914			15,428			18,804			23,842			18,108			16,850			11,639		125,745
2003		18,862			17,833			27,154			46,726			56,641			70,832			55,499			52,047			24,810		370,404
Average Weekly Sales (AWS)
1Q03		123,738			151,474			116,157			121,175			111,239			111,713			111,331			98,808			143,980		113,906
2Q03		119,958			152,695			117,695			119,575			112,647			114,202			109,915			94,582			125,666		113,271
3Q03		119,044			153,083			114,272			118,677			111,269			114,625			107,148			92,579			115,241		111,476
2003		120,913			152,417			116,042			119,809			111,719			113,513			109,465			95,323			123,434		112,859
Year-Over-Year Change in AWS
1Q03		0.2	%		3.7	%		6.0	%		5.1	%		5.0	%		11.0	%		5.4	%		-1.7	%		—		4.4	%
2Q03		-0.4	%		1.9	%		7.3	%		1.4	%		5.3	%		10.4	%		5.1	%		-6.1	%		—		3.1	%
3Q03		0.4	%		1.1	%		6.7	%		-0.6	%		4.4	%		10.4	%		4.9	%		-3.7	%		—		2.7	%
2003		0.1	%		2.2	%		6.7	%		1.9	%		4.9	%		10.6	%		5.1	%		-2.7	%		—		3.4	%
Year-Over-Year Change Comp Store Sales (2)
Units		4			3			6			10			13			16			13			3			—		68
1Q03		0.2	%		3.7	%		6.0	%		5.1	%		5.0	%		11.0	%		6.6	%		—			—		6.4	%
2Q03		-0.4	%		1.9	%		7.3	%		1.4	%		5.3	%		10.4	%		5.2	%		5.4	%		—		5.4	%
3Q03		0.4	%		1.1	%		6.7	%		-0.6	%		4.4	%		10.4	%		4.9	%		7.4	%		—		4.8	%
2003		0.1	%		2.2	%		6.7	%		1.9	%		4.9	%		10.6	%		5.4	%		7.1	%		—		5.5	%

(1)	Includes all restaurants opened in the period indicated.
(2)	A unit becomes comparable in the eighteenth month of operation

Page 7 of 11

Pei Wei Asian Diner

Supplemental Sales Information

Year of Unit Opening (1)

	2000			2001			2002			2003		Total
Units		1			4			11			11		27
Sales (000)
1Q03		868			2,390			5,762			1,835		10,855
2Q03		841			2,241			5,722			3,882		12,686
3Q03		814			2,141			5,603			5,426		13,984
2003		2,523			6,772			17,087			11,143		37,525
Average Weekly Sales (AWS)
1Q03		66,787			45,956			40,295			52,437		44,673
2Q03		64,652			43,092			40,017			53,176		45,144
3Q03		62,593			41,176			39,180			47,599		43,428
2003		64,677			43,408			39,831			50,195		44,356
Year-Over-Year Change in AWS
1Q03		3.0	%		6.4	%		-15.1	%		—		-6.0	%
2Q03		4.2	%		-0.3	%		11.3	%		—		3.4	%
3Q03		6.2	%		-0.4	%		7.8	%		—		8.2	%
2003		4.4	%		1.9	%		6.6	%		—		3.2	%
Year-Over-Year Change Comp Store Sales (2)
Units		1			4			2			—		7
1Q03		3.0	%		-1.2	%		—			—		1.1	%
2Q03		4.2	%		-2.5	%		2.1	%		—		-0.1	%
3Q03		6.2	%		-0.4	%		0.8	%		—		1.2	%
2003		4.4	%		-1.3	%		1.1	%		—		0.7	%

(1)	Includes all restaurants opened in the period indicated.
(2)	A unit becomes comparable in the eighteenth month of operation

Page 8 of 11

P.F. Chang’s China Bistro, Inc.

Development Schedule

	P. F. Chang's China Bistro
	3Q03		4Q03		1Q04		2Q04
Units opened		5		1
Units under construction				6		6
Units in development								3
Total new unit development		5		7		6		3
Existing units		85		90		97		103
Total units		90		97		103		106

	Pei Wei Asian Diner
	3Q03		4Q03		1Q04		2Q04
Units opened		4		3
Units under construction				3		1
Units in development						3		5
Total new unit development		4		6		4		5
Existing units		23		27		33		37
Total units		27		33		37		42

Page 9 of 11

P.F. Chang’s China Bistro, Inc.

2003 Forecast

	1Q03									2Q03									3Q03
	Bistro			Pei Wei			Total			Bistro			Pei Wei			Total			Bistro			Pei Wei			Total
Store weeks		1,060			243			1,303			1,094			281			1,375			1,128			322			1,450
Average weekly sales (000)		113.9			44.7			101.0			113.3			45.1			99.3			111.5			43.4			96.4
Revenues (millions)		120.7			10.9			131.6			123.9			12.7			136.6			125.7			14.0			139.7
Restaurant operating profit		23.9			1.7			25.7			24.2			2.1			26.2			24.3			2.2			26.5
General & administrative		5.9			0.8			6.8			6.4			0.9			7.3			5.9			1.0			6.9
Depreciation & amortization		3.9			0.4			4.3			4.2			0.5			4.6			4.3			0.5			4.8
Preopening expenses		1.7			0.3			2.0			0.9			0.3			1.2			2.0			0.6			2.6
Other income		(0.0	)		—			(0.0	)		—			—			—			0.1			—			0.1
Minority interest		2.2			0.1			2.3			2.2			0.2			2.3			2.1			0.2			2.3
Income (loss) before tax provision		10.2			0.1			10.3			10.5			0.2			10.7			10.0			(0.2	)		9.8
Tax provision		3.5			0.0			3.5			3.6			0.1			3.6			3.4			(0.1	)		3.3
Net income (loss)		6.8			0.0			6.8			6.9			0.1			7.1			6.6			(0.1	)		6.5
FD shares		26.0			26.0			26.0			26.2			26.2			26.2			26.3			26.3			26.3
EPS	$	0.26		$	0.00		$	0.26		$	0.26		$	0.01		$	0.27		$	0.25		$	(0.00	)	$	0.25
Revenues		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Restaurant operating profit		19.8	%		16.1	%		19.5	%		19.5	%		16.4	%		19.2	%		19.4	%		15.5	%		19.0	%
General & administrative		4.9	%		7.8	%		5.2	%		5.2	%		7.2	%		5.4	%		4.7	%		7.4	%		5.0	%
Depreciation & amortization		3.2	%		3.7	%		3.3	%		3.4	%		3.7	%		3.4	%		3.4	%		3.9	%		3.4	%
Preopening expenses		1.4	%		2.9	%		1.5	%		0.7	%		2.5	%		0.9	%		1.6	%		4.2	%		1.9	%
Other income		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.1	%		0.0	%		0.0	%
Minority interest		1.8	%		1.3	%		1.8	%		1.8	%		1.3	%		1.7	%		1.7	%		1.1	%		1.6	%
Income (loss) before tax provision		8.5	%		0.5	%		7.8	%		8.5	%		1.6	%		7.9	%		7.9	%		-1.1	%		7.0	%
Tax provision		34.0	%		34.0	%		34.0	%		34.0	%		34.0	%		34.0	%		34.0	%		34.0	%		34.0	%
Net income (loss)		5.6	%		0.3	%		5.2	%		5.6	%		1.1	%		5.2	%		5.2	%		-0.7	%		4.6	%

[Additional columns below]

[Continued from above table, first column(s) repeated]

	4Q03E									2003E
	Bistro			Pei Wei			Total			Bistro			Pei Wei			Total
Store weeks		1,215			404			1,619			4,497			1,250			5,747
Average weekly sales (000)		109.5			42.8			92.9			112.0			43.9			97.1
Revenues (millions)		133.0			17.3			150.3			503.5			54.8			558.3
Restaurant operating profit		26.0			2.6			28.6			98.4			8.6			106.9
General & administrative		6.2			1.2			7.4			24.5			3.9			28.4
Depreciation & amortization		4.4			0.6			5.0			16.7			2.0			18.7
Preopening expenses		2.1			0.5			2.6			6.7			1.7			8.4
Other income		—			—			—			0.0			—			0.0
Minority interest		2.2			0.2			2.4			8.7			0.6			9.4
Income (loss) before tax provision		11.1			0.1			11.2			41.8			0.2			42.0
Tax provision		3.8			0.0			3.8			14.2			0.1			14.3
Net income (loss)		7.3			0.1			7.4			27.6			0.2			27.7
FD shares		26.3			26.3			26.3			26.2			26.2			26.2
EPS	$	0.28		$	0.00		$	0.28		$	1.05		$	0.01		$	1.06
Revenues		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Restaurant operating profit		19.5	%		14.8	%		19.0	%		19.5	%		15.6	%		19.2	%
General & administrative		4.7	%		6.6	%		4.9	%		4.9	%		7.2	%		5.1	%
Depreciation & amortization		3.3	%		3.5	%		3.3	%		3.3	%		3.7	%		3.4	%
Preopening expenses		1.6	%		2.9	%		1.7	%		1.3	%		3.1	%		1.5	%
Other income		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Minority interest		1.7	%		1.0	%		1.6	%		1.7	%		1.2	%		1.7	%
Income (loss) before tax provision		8.3	%		0.8	%		7.5	%		8.3	%		0.4	%		7.5	%
Tax provision		34.0	%		34.0	%		34.0	%		34.0	%		34.0	%		34.0	%
Net income (loss)		5.5	%		0.5	%		4.9	%		5.5	%		0.3	%		5.0	%

Page 10 of 11

P.F. Chang’s China Bistro, Inc.

2003 Forecast vs 2002 Actual

	1Q02			1Q03			Change			2Q02			2Q03			Change			3Q02			3Q03			Change
Store weeks		937			1,303			39.1	%		981			1,375			40.2	%		1,078			1,450			34.5	%
Average weekly sales (000)		104.1			101.0			-2.9	%		103.7			99.3			-4.2	%		99.4			96.4			-3.0	%
Revenues (millions)		97.5			131.6			35.0	%		101.7			136.6			34.3	%		107.1			139.7			30.5	%
Restaurant operating profit		18.2			25.7						19.6			26.2						19.6			26.5
General & administrative		5.0			6.8						5.5			7.3						5.3			6.9
Depreciation & amortization		3.3			4.3						3.5			4.6						3.7			4.8
Preopening expenses		0.6			2.0						1.5			1.2						2.3			2.6
Other income		—			(0.0	)					—			—						—			0.1
Elimination of minority interest		1.4			2.3						1.6			2.3						1.5			2.3
Income (loss) before tax provision		7.9			10.3						7.5			10.7						6.8			9.8
Tax provision		2.8			3.5						2.6			3.6						2.4			3.3
Net income (loss)		5.1			6.8			34.3	%		4.9			7.1			44.5	%		4.4			6.5			47.6	%
FD shares		25.9			26.0						26.0			26.2						25.8			26.3
EPS	$	0.20		$	0.26			33.6	%	$	0.19		$	0.27			43.2	%	$	0.17		$	0.25			44.7	%
Revenues		100.0	%		100.0	%					100.0	%		100.0	%					100.0	%		100.0	%
Restaurant operating profit		18.7	%		19.5	%					19.3	%		19.2	%					18.3	%		19.0	%
General & administrative		5.1	%		5.2	%					5.4	%		5.4	%					4.9	%		5.0	%
Depreciation & amortization		3.4	%		3.3	%					3.4	%		3.4	%					3.5	%		3.4	%
Preopening expenses		0.6	%		1.5	%					1.5	%		0.9	%					2.1	%		1.9	%
Other income		0.0	%		0.0	%					0.0	%		0.0	%					0.0	%		0.0	%
Elimination of minority interest		1.5	%		1.8	%					1.6	%		1.7	%					1.4	%		1.6	%
Income (loss) before tax provision		8.1	%		7.8	%					7.4	%		7.9	%					6.3	%		7.0	%
Tax provision		35.0	%		34.0	%					35.0	%		34.0	%					35.0	%		34.0	%
Net income (loss)		5.2	%		5.2	%					4.8	%		5.2	%					4.1	%		4.6	%

[Additional columns below]

[Continued from above table, first column(s) repeated]

	4Q02			4Q03E			Change			2002			2003E			Change
Store weeks		1,201			1,619			34.8	%		4,197			5,747			36.9	%
Average weekly sales (000)		96.5			92.9			-3.7	%		100.6			97.1			-3.4	%
Revenues (millions)		115.9			150.3			29.8	%		422.1			558.3			32.2	%
Restaurant operating profit		22.3			28.6						79.7			106.9
General & administrative		4.9			7.4						20.6			28.4
Depreciation & amortization		3.9			5.0						14.4			18.7
Preopening expenses		1.9			2.6						6.3			8.4
Other income		0.0			—						0.0			0.0
Elimination of minority interest		1.8			2.4						6.4			9.4
Income (loss) before tax provision		9.9			11.2						32.1			42.0
Tax provision		3.4			3.8						11.2			14.3
Net income (loss)		6.5			7.4			14.7	%		20.9			27.7			32.9	%
FD shares		26.0			26.3						25.9			26.2
EPS	$	0.25		$	0.28			13.0	%	$	0.81		$	1.06			30.5	%
Revenues		100.0	%		100.0	%					100.0	%		100.0	%
Restaurant operating profit		19.3	%		19.0	%					18.9	%		19.2	%
General & administrative		4.2	%		4.9	%					4.9	%		5.1	%
Depreciation & amortization		3.3	%		3.3	%					3.4	%		3.4	%
Preopening expenses		1.6	%		1.7	%					1.5	%		1.5	%
Other income		0.0	%		0.0	%					0.0	%		0.0	%
Elimination of minority interest		1.6	%		1.6	%					1.5	%		1.7	%
Income (loss) before tax provision		8.5	%		7.5	%					7.6	%		7.5	%
Tax provision		34.5	%		34.0	%					34.9	%		34.0	%
Net income (loss)		5.6	%		4.9	%					4.9	%		5.0	%

Page 11 of 11