Filed by Bowne Pure Compliance

Contact: P.F. Chang’s China Bistro, Inc.

(480) 888-3000

Laura Cherry

laura.cherry@pfcb.com

Mark Mumford

mark.mumford@pfcb.com

Exhibit 99.1

P.F. CHANG’S CHINA BISTRO, INC.

P.F. CHANG’S EARNS $0.20 PER SHARE
FOURTH QUARTER EARNINGS EXPECTATIONS LOWERED

SCOTTSDALE, ARIZONA (October 24, 2007) P.F. Chang’s China Bistro, Inc. (NASDAQ: PFCB) today reported earnings of $5.3 million for the third quarter ended September 30, 2007 compared to $6.6 million for the third quarter of the prior year. Earnings per diluted share for the third quarter were $0.20 as compared to $0.25 for the third quarter of the prior year.


(000 except per share data)	3Q07		3Q06
Revenues	$	270,880	$	231,024
Net Income	$	5,275	$	6,586
Diluted Earnings Per Share	$	0.20	$	0.25
Shares used in diluted EPS calculation		26,105		26,558

Bistro Results

Revenues for the Company’s Bistro concept increased 12.8% to $208.5 million for the third quarter of 2007 compared to $184.9 million in the third quarter of 2006. Bistro revenues were $1.1 million below the Company’s forecast primarily due to reduced guest traffic. Comparable store sales for the Bistro declined 1.6% compared to a forecasted decline of 1.3%.

Pei Wei Results

Revenues for the Company’s Pei Wei concept increased 33.9% to $61.7 million for the third quarter of 2007 compared to $46.1 million in the third quarter of 2006. Pei Wei revenues were $1.0 million below the Company’s forecast primarily due to lower than expected sales at new stores opened during 2007 as well as existing locations. Comparable store sales decreased 1.0% compared to a forecasted increase of 0.8%.

2007 Expectations

The Company has revised its full year 2007 forecasted earnings per share from $1.34 to $1.19 reflecting expectations of lower revenue growth due to anticipated comparable store sales declines at both concepts, lower than expected sales at 2007 new Pei Wei store openings and continuing current year trends of rising restaurant operating costs at both concepts.

Bistro Expectations

The Company plans to open 20 new Bistro restaurants during 2007, 10 of which were open by the end of the third quarter. Fiscal year 2007 revenues are expected to increase 11.4% over prior year to $842.7 million compared to the Company’s previous forecast of $847.2 million. The Company expects Bistro full-year comparable store sales to decline 2.1%, compared to the Company’s previous forecast of a 1.6% decline, reflecting reductions in anticipated guest traffic based on recent trends.

Page 1 of 10

Pei Wei Expectations

The Company plans to open 37 new Pei Wei restaurants during 2007, 30 of which were open by the end of the third quarter. Fiscal year 2007 revenues are expected to increase 34.8% over prior year to $243.0 million compared to the Company’s previous forecast of $247.6 million. The Company reduced Pei Wei full-year comparable store sales growth expectations from its previous forecast of 0.8% to 0.0% reflecting reductions in anticipated guest traffic based on recent trends.

2008 Development

In fiscal 2008, the Company expects sales weeks for Bistro and Pei Wei to increase approximately 13% and 26%, respectively, through the development of 18 new Bistro restaurants and 25 new Pei Wei restaurants scheduled to open during 2008.

Authorization of Increase to Share Repurchase Program

On October 19, 2007, the Company’s Board of Directors increased the amount of the Company’s current share repurchase program authorization from $50.0 million to $100.0 million. Under this program, the Company may repurchase outstanding shares of its common stock from time to time in the open market or in private during the two-year period ending October 19, 2009, at prevailing market prices. The Company intends to use cash on hand and available credit lines to repurchase shares under the program.

The Company is hosting a conference call today at 1:00 pm ET in which management will provide further details on these items. A webcast of the call can be accessed through the company’s website at http://www.pfcb.com.

Page 2 of 10

P.F. Chang’s China Bistro, Inc. owns and operates three 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. Taneko Japanese Tavern features natural, organic and seasonal ingredients highlighting the diverse cooking styles of Japan.

Note with respect to non-GAAP financial measures contained within Supplemental Financial Information

In addition to using GAAP results in evaluating the Company’s business, management measures restaurant operating income to assess the performance of its existing restaurant concepts. Restaurant operating income includes all ongoing costs related to operating the Company’s restaurants but excludes preopening expenses and partner investment expense. Because these costs are solely related to expansion of the Company’s business, they make an accurate assessment of the health of its ongoing operations more difficult and are therefore excluded. As the Company’s expansion is funded entirely from its ongoing restaurant operations, restaurant operating income is a primary consideration when determining whether and when to open additional restaurants. The non-GAAP financial information presented herein should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Please see the non-GAAP to GAAP reconciliation at the bottom of pages six through ten of this press release for a reconciliation of restaurant operating income to the most directly comparable GAAP measure, income from operations.

Note with respect to forward looking statements

The statements contained in this press release that are not purely historical, including the Company’s estimates of its revenues, earnings and comparable store sales, 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 locate acceptable restaurant sites; open new restaurants and operate its restaurants profitably; the Company’s ability to hire, train and retain skilled management and other personnel; the Company’s ability to access sufficient financing on acceptable terms; changes in consumer tastes and trends; customer acceptance of new concepts; national, regional and local economic and weather conditions; changes in costs related to food, utilities and labor, changes in immigration laws; and other risks described in the Company’s recent SEC filings.

Page 3 of 10

P.F. Chang’s China Bistro, Inc.
Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)


	13 Weeks Ended
	September 30,			October 1,
	2007			2006
Revenues	$	270,880		$	231,024
Costs and expenses:
Cost of sales		74,092			62,954
Labor		92,127			76,209
Operating		43,999			36,382
Occupancy		16,025			13,371
General & administrative		17,375			14,641
Depreciation & amortization		14,855			11,584
Preopening expense		4,939			3,792
Partner investment expense		(71	)		1,487

Total costs and expenses		263,341			220,420

Income from operations		7,539			10,604
Interest and other income (expense), net		(10	)		344
Minority interest		(808	)		(1,948	)

Income before provision for income taxes		6,721			9,000
Provision for income taxes		(1,446	)		(2,414	)

Net income	$	5,275		$	6,586

Basic net income per share	$	0.20		$	0.25
Diluted net income per share	$	0.20		$	0.25
Shares used in calculation of basic EPS		25,773			26,000
Shares used in calculation of diluted EPS		26,105			26,558


	Percentage of Revenues
	September 30,			October 1,
	2007			2006
Revenues		100.0	%		100.0	%
Costs and expenses:
Cost of sales		27.4	%		27.2	%
Labor		34.0	%		33.0	%
Operating		16.2	%		15.7	%
Occupancy		5.9	%		5.8	%
General & administrative		6.4	%		6.3	%
Depreciation & amortization		5.5	%		5.0	%
Preopening expense		1.8	%		1.6	%
Partner investment expense		0.0	%		0.6	%

Total costs and expenses		97.2	%		95.4	%

Income from operations		2.8	%		4.6	%
Interest and other income (expense), net		0.0	%		0.1	%
Minority interest		(0.3	%)		(0.8	%)

Income before provision for income taxes		2.5	%		3.9	%
Provision for income taxes		(0.5	%)		(1.0	%)

Net income		1.9	%		2.9	%

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

Page 4 of 10

P.F. Chang’s China Bistro, Inc.
Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)


	39 Weeks Ended
	September 30,			October 1,
	2007			2006
Revenues	$	802,695		$	685,618
Costs and expenses:
Cost of sales		220,018			187,679
Labor		272,026			228,526
Operating		127,629			107,433
Occupancy		46,548			38,589
General & administrative		49,903			41,930
Depreciation & amortization		41,140			32,504
Preopening expense		10,775			8,303
Partner investment expense		(1,940	)		2,612

Total costs and expenses		766,099			647,576

Income from operations		36,596			38,042
Interest and other income (expense), net		512			1,404
Minority interest		(3,576	)		(6,003	)

Income before provision for income taxes		33,532			33,443
Provision for income taxes		(8,515	)		(8,955	)

Net income	$	25,017		$	24,488

Basic net income per share	$	0.98		$	0.93
Diluted net income per share	$	0.96		$	0.91
Shares used in calculation of basic EPS		25,656			26,344
Shares used in calculation of diluted EPS		26,093			27,019


	Percentage of Revenues
	September 30,			October 1,
	2007			2006
Revenues		100.0	%		100.0	%
Costs and expenses:
Cost of sales		27.4	%		27.4	%
Labor		33.9	%		33.3	%
Operating		15.9	%		15.7	%
Occupancy		5.8	%		5.6	%
General & administrative		6.2	%		6.1	%
Depreciation & amortization		5.1	%		4.7	%
Preopening expense		1.3	%		1.2	%
Partner investment expense		(0.2	%)		0.4	%

Total costs and expenses		95.4	%		94.5	%

Income from operations		4.6	%		5.5	%
Interest and other income (expense), net		0.1	%		0.2	%
Minority interest		(0.4	%)		(0.9	%)

Income before provision for income taxes		4.2	%		4.9	%
Provision for income taxes		(1.1	%)		(1.3	%)

Net income		3.1	%		3.6	%

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

Page 5 of 10

P.F. Chang’s China Bistro, Inc.
Supplemental Financial Information — Forecast


				53 weeks																														Forecast
	2003			2004			2005			1Q06			2Q06			3Q06			4Q06			2006			1Q07A			2Q07A			3Q07A			4Q07			2007

Units		130			168			208			214			225			239			260			260			270			284			300			317			317
Sales weeks		5,749			7,931			9,497			2,751			2,840			3,003			3,267			11,861			3,438			3,601			3,789			4,072			14,900
AWS		93,915			89,136			85,201			83,102			79,571			76,931			77,131			79,049			76,907			74,260			71,491			70,130			73,038

Revenues		539,917			706,941			809,153			228,613			225,981			231,024			251,988			937,606			264,406			267,409			270,880			285,569			1,088,264
per FDS	$	20.57		$	26.60		$	29.97		$	8.39		$	8.29		$	8.70		$	9.73		$	35.07		$	10.15		$	10.23		$	10.38		$	10.90		$	41.66

Operating costs
Cost of sales		152,788			200,736			224,634			63,440			61,285			62,954			68,903			256,582			72,915			73,011			74,092			78,141			298,159
Labor		175,256			231,930			266,243			76,937			75,380			76,209			81,587			310,113			89,234			90,665			92,127			97,271			369,297
Operating		73,403			99,231			122,247			34,841			36,210			36,382			38,976			146,409			41,194			42,436			43,999			46,498			174,127
Occupancy		28,914			37,693			42,793			12,493			12,725			13,371			13,868			52,457			14,908			15,615			16,025			16,888			63,436
Minority interest		7,887			10,078			8,227			2,022			2,033			1,948			2,113			8,116			1,647			1,121			808			900			4,476
General and administrative		30,166			36,369			41,117			13,252			14,037			14,641			14,981			56,911			16,722			15,806			17,375			18,515			68,418
Depreciation & amortization		21,817			29,155			36,950			10,355			10,565			11,584			12,359			44,863			12,679			13,606			14,855			15,361			56,501
Restaurant operating income		49,686			61,749			66,942			15,273			13,746			13,935			19,201			62,155			15,107			15,149			11,599			11,995			53,850

Development costs
Preopening expenses		8,745			7,980			9,245			1,694			2,817			3,792			4,410			12,713			2,540			3,296			4,939			3,493			14,268
Partner investment expense		4,196			17,671			4,800			200			925			1,487			1,759			4,371			(1,401	)		(468	)		(71	)		396			(1,544	)

Other expenses
Interest and other (income) expense, net		(466	)		(612	)		(1,841	)		(492	)		(568	)		(344	)		89			(1,315	)		(343	)		(179	)		10			—			(512	)
Provision for income taxes		12,424			10,656			16,942			4,058			2,483			2,414			4,178			13,133			3,846			3,223			1,446			2,128			10,643
Net income		24,787			26,054			37,796			9,813			8,089			6,586			8,765			33,253			10,465			9,277			5,275			5,978			30,995

per FDS	$	0.94		$	0.98		$	1.40		$	0.36		$	0.30		$	0.25		$	0.34		$	1.24		$	0.40		$	0.36		$	0.20		$	0.23		$	1.19

Fully diluted shares (FDS)		26,250			26,575			27,000			27,239			27,258			26,558			25,893			26,737			26,046			26,129			26,105			26,200			26,120

Revenues		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Cost of sales		28.3	%		28.4	%		27.8	%		27.7	%		27.1	%		27.2	%		27.3	%		27.4	%		27.6	%		27.3	%		27.4	%		27.4	%		27.4	%
Labor		32.5	%		32.8	%		32.9	%		33.7	%		33.4	%		33.0	%		32.4	%		33.1	%		33.7	%		33.9	%		34.0	%		34.1	%		33.9	%
Operating		13.6	%		14.0	%		15.1	%		15.2	%		16.0	%		15.7	%		15.5	%		15.6	%		15.6	%		15.9	%		16.2	%		16.3	%		16.0	%
Occupancy		5.4	%		5.3	%		5.3	%		5.5	%		5.6	%		5.8	%		5.5	%		5.6	%		5.6	%		5.8	%		5.9	%		5.9	%		5.8	%
Minority interest		1.5	%		1.4	%		1.0	%		0.9	%		0.9	%		0.8	%		0.8	%		0.9	%		0.6	%		0.4	%		0.3	%		0.3	%		0.4	%
General and administrative		5.6	%		5.1	%		5.1	%		5.8	%		6.2	%		6.3	%		5.9	%		6.1	%		6.3	%		5.9	%		6.4	%		6.5	%		6.3	%
Depreciation & amortization		4.0	%		4.1	%		4.6	%		4.5	%		4.7	%		5.0	%		4.9	%		4.8	%		4.8	%		5.1	%		5.5	%		5.4	%		5.2	%

Restaurant operating income		9.2	%		8.7	%		8.3	%		6.7	%		6.1	%		6.0	%		7.6	%		6.6	%		5.7	%		5.7	%		4.3	%		4.2	%		4.9	%

Preopening expenses		1.6	%		1.1	%		1.1	%		0.7	%		1.2	%		1.6	%		1.8	%		1.4	%		1.0	%		1.2	%		1.8	%		1.2	%		1.3	%
Partner investment expense		0.8	%		2.5	%		0.6	%		0.1	%		0.4	%		0.6	%		0.7	%		0.5	%		-0.5	%		-0.2	%		0.0	%		0.1	%		-0.1	%
Interest and other (income) expense, net		-0.1	%		-0.1	%		-0.2	%		-0.2	%		-0.3	%		-0.1	%		0.0	%		-0.1	%		-0.1	%		-0.1	%		0.0	%		0.0	%		0.0	%
Provision for income taxes		2.3	%		1.5	%		2.1	%		1.8	%		1.1	%		1.0	%		1.7	%		1.4	%		1.5	%		1.2	%		0.5	%		0.7	%		1.0	%

Net income		4.6	%		3.7	%		4.7	%		4.3	%		3.6	%		2.9	%		3.5	%		3.5	%		4.0	%		3.5	%		1.9	%		2.1	%		2.8	%


Reconciliation of Non-GAAP Financial Information to GAAP measures:
Restaurant operating income		49,686			61,749			66,942			15,273			13,746			13,935			19,201			62,155			15,107			15,149			11,599			11,995			53,850
Add: Minority interest		7,887			10,078			8,227			2,022			2,033			1,948			2,113			8,116			1,647			1,121			808			900			4,476
Less: Preopening expenses		(8,745	)		(7,980	)		(9,245	)		(1,694	)		(2,817	)		(3,792	)		(4,410	)		(12,713	)		(2,540	)		(3,296	)		(4,939	)		(3,493	)		(14,268	)
Less: Partner investment expense		(4,196	)		(17,671	)		(4,800	)		(200	)		(925	)		(1,487	)		(1,759	)		(4,371	)		1,401			468			71			(396	)		1,544

Income from operations		44,632			46,176			61,124			15,401			12,037			10,604			15,145			53,187			15,615			13,442			7,539			9,006			45,602

Page 6 of 10

Shared Services
Supplemental Financial Information — Forecast


																												Forecast
	2005			1Q06			2Q06			3Q06			4Q06			2006			1Q07A			2Q07A			3Q07A			4Q07			2007

Units
Sales weeks
AWS
Comp sales change
Revenues
per FDS

Operating costs
Cost of sales
Labor
Operating
Occupancy
Minority interest
General and administrative		18,698			5,619			6,016			7,330			7,174			26,139			7,537			6,899			7,854			9,059			31,349
Depreciation & amortization		880			280			281			299			277			1,137			272			282			471			300			1,325
Restaurant operating income		(19,578	)		(5,899	)		(6,297	)		(7,629	)		(7,451	)		(27,276	)		(7,809	)		(7,181	)		(8,325	)		(9,359	)		(32,674	)

Development costs
Preopening expenses
Partner investment expense

Other expenses
Interest and other (income) expense, net		(1,575	)		(489	)		(535	)		(391	)		(170	)		(1,585	)		(298	)		(137	)		(52	)		—			(487	)
Provision for income taxes		(5,572	)		(1,677	)		(1,355	)		(1,941	)		(2,188	)		(7,161	)		(2,018	)		(1,816	)		(1,781	)		(2,457	)		(8,072	)
Net income		(12,431	)		(3,733	)		(4,407	)		(5,297	)		(5,093	)		(18,530	)		(5,493	)		(5,228	)		(6,492	)		(6,902	)		(24,115	)

per FDS	$	(0.46	)	$	(0.14	)	$	(0.16	)	$	(0.20	)	$	(0.20	)	$	(0.69	)	$	(0.21	)	$	(0.20	)	$	(0.25	)	$	(0.26	)	$	(0.92	)

Fully diluted shares (FDS)		27,000			27,239			27,258			26,558			25,893			26,737			26,046			26,129			26,105			26,200			26,120

Reconciliation of Non-GAAP Financial Information to GAAP measures:
Restaurant operating income		(19,578	)		(5,899	)		(6,297	)		(7,629	)		(7,451	)		(27,276	)		(7,809	)		(7,181	)		(8,325	)		(9,359	)		(32,674	)
Add: Minority interest		—			—			—			—			—			—			—			—			—			—			—
Less: Preopening expenses		—			—			—			—			—			—			—			—			—			—			—
Less: Partner investment expense		—			—			—			—			—			—			—			—			—			—			—

Income from operations		(19,578	)		(5,899	)		(6,297	)		(7,629	)		(7,451	)		(27,276	)		(7,809	)		(7,181	)		(8,325	)		(9,359	)		(32,674	)

Page 7 of 10

Concept: P.F. Chang’s China Bistro
Supplemental Financial Information — Forecast


				53 weeks																														Forecast
	2003			2004			2005			1Q06			2Q06			3Q06			4Q06			2006			1Q07A			2Q07A			3Q07A			4Q07			2007

Units		97			115			131			133			137			142			152			152			153			157			162			172			172
Sales weeks		4,494			5,613			6,266			1,720			1,751			1,796			1,920			7,187			1,979			2,028			2,078			2,202			8,287
AWS		108,280			108,938			107,757			108,677			104,914			102,930			104,713			105,265			104,592			102,615			100,325			99,455			101,695
Comp sales change		5.1	%		3.0	%		1.2	%		1.3	%		-1.0	%		-0.5	%		-0.9	%		-0.3	%		-2.5	%		-1.3	%		-1.6	%		-2.9	%		-2.1	%
Revenues		486,609			611,468			675,204			186,924			183,705			184,914			201,091			756,634			207,028			208,174			208,544			219,000			842,746
per FDS	$	18.54		$	23.01		$	25.01		$	6.86		$	6.74		$	6.96		$	7.77		$	28.30		$	7.95		$	7.97		$	7.99		$	8.36		$	32.26

Operating costs
Cost of sales		136,983			173,128			187,073			51,771			49,810			50,131			54,855			206,567			56,781			56,696			56,943			59,787			230,207
Labor		157,414			200,157			221,126			62,652			60,753			59,959			63,733			247,097			69,312			69,827			69,946			73,584			282,669
Operating		65,792			84,781			100,199			27,897			28,653			28,306			30,609			115,465			31,684			32,194			32,981			34,602			131,461
Occupancy		25,533			31,896			34,700			9,859			9,928			10,307			10,589			40,683			11,217			11,598			11,739			12,264			46,818
Minority interest		7,360			9,177			7,118			1,733			1,753			1,717			1,790			6,993			1,333			837			599			504			3,273
General and administrative		26,147			30,051			15,512			5,117			5,319			4,773			5,294			20,503			5,927			5,907			5,990			6,023			23,847
Depreciation & amortization		19,414			24,778			30,093			8,096			8,220			8,831			9,304			34,451			9,483			10,054			10,861			11,279			41,677
Restaurant operating income		47,966			57,500			79,383			19,799			19,269			20,890			24,917			84,875			21,291			21,061			19,485			20,957			82,794

Development costs
Preopening expenses		6,981			5,843			6,028			1,066			1,575			2,355			3,008			8,004			1,256			1,790			2,974			2,260			8,280
Partner investment expense		3,941			15,075			3,526			426			570			956			1,523			3,475			(1,926	)		(753	)		(433	)		—			(3,112	)

Other expenses Interest and other (income) expense, net		(461	)		(612	)		(251	)		—			—			51			204			255			(51	)		(20	)		40			—			(31	)
Provision for income taxes		12,522			10,796			21,690			5,432			4,024			4,701			6,321			20,478			5,915			5,168			3,639			4,908			19,630
Net income		24,983			26,398			48,390			12,875			13,100			12,827			13,861			52,663			16,097			14,876			13,265			13,789			58,027

per FDS	$	0.95		$	0.99		$	1.79		$	0.47		$	0.48		$	0.48		$	0.54		$	1.97		$	0.62		$	0.57		$	0.51		$	0.53		$	2.22

Fully diluted shares (FDS)		26,250			26,575			27,000			27,239			27,258			26,558			25,893			26,737			26,046			26,129			26,105			26,200			26,120

Revenues		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Cost of sales		28.2	%		28.3	%		27.7	%		27.7	%		27.1	%		27.1	%		27.3	%		27.3	%		27.4	%		27.2	%		27.3	%		27.3	%		27.3	%
Labor		32.3	%		32.7	%		32.7	%		33.5	%		33.1	%		32.4	%		31.7	%		32.7	%		33.5	%		33.5	%		33.5	%		33.6	%		33.5	%
Operating		13.5	%		13.9	%		14.8	%		14.9	%		15.6	%		15.3	%		15.2	%		15.3	%		15.3	%		15.5	%		15.8	%		15.8	%		15.6	%
Occupancy		5.2	%		5.2	%		5.1	%		5.3	%		5.4	%		5.6	%		5.3	%		5.4	%		5.4	%		5.6	%		5.6	%		5.6	%		5.6	%
Minority interest		1.5	%		1.5	%		1.1	%		0.9	%		1.0	%		0.9	%		0.9	%		0.9	%		0.6	%		0.4	%		0.3	%		0.2	%		0.4	%
General and administrative		5.4	%		4.9	%		2.3	%		2.7	%		2.9	%		2.6	%		2.6	%		2.7	%		2.9	%		2.8	%		2.9	%		2.8	%		2.8	%
Depreciation & amortization		4.0	%		4.1	%		4.5	%		4.3	%		4.5	%		4.8	%		4.6	%		4.6	%		4.6	%		4.8	%		5.2	%		5.2	%		4.9	%

Restaurant operating income		9.9	%		9.4	%		11.8	%		10.6	%		10.5	%		11.3	%		12.4	%		11.2	%		10.3	%		10.1	%		9.3	%		9.6	%		9.8	%

Preopening expenses		1.4	%		1.0	%		0.9	%		0.6	%		0.9	%		1.3	%		1.5	%		1.1	%		0.6	%		0.9	%		1.4	%		1.0	%		1.0	%
Partner investment expense		0.8	%		2.5	%		0.5	%		0.2	%		0.3	%		0.5	%		0.8	%		0.5	%		-0.9	%		-0.4	%		-0.2	%		0.0	%		-0.4	%
Interest and other (income) expense, net		-0.1	%		-0.1	%		0.0	%		0.0	%		0.0	%		0.0	%		0.1	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Provision for income taxes		2.6	%		1.8	%		3.2	%		2.9	%		2.2	%		2.5	%		3.1	%		2.7	%		2.9	%		2.5	%		1.7	%		2.2	%		2.3	%

Net income		5.1	%		4.3	%		7.2	%		6.9	%		7.1	%		6.9	%		6.9	%		7.0	%		7.8	%		7.1	%		6.4	%		6.3	%		6.9	%


Reconciliation of Non-GAAP Financial Information to GAAP measures:
Restaurant operating income		47,966			57,500			79,383			19,799			19,269			20,890			24,917			84,875			21,291			21,061			19,485			20,957			82,794
Add: Minority interest		7,360			9,177			7,118			1,733			1,753			1,717			1,790			6,993			1,333			837			599			504			3,273
Less: Preopening expenses		(6,981	)		(5,843	)		(6,028	)		(1,066	)		(1,575	)		(2,355	)		(3,008	)		(8,004	)		(1,256	)		(1,790	)		(2,974	)		(2,260	)		(8,280	)
Less: Partner investment expense		(3,941	)		(15,075	)		(3,526	)		(426	)		(570	)		(956	)		(1,523	)		(3,475	)		1,926			753			433			—			3,112

Income from operations		44,404			45,759			76,947			20,040			18,877			19,296			22,176			80,389			23,294			20,861			17,543			19,201			80,899

Page 8 of 10

Concept: Pei Wei Asian Diner
Supplemental Financial Information — Forecast


				53 weeks																														Forecast
	2003			2004			2005			1Q06			2Q06			3Q06			4Q06			2006			1Q07A			2Q07A			3Q07A			4Q07			2007

Units		33			53			77			81			88			97			107			107			116			126			137			144			144
Sales weeks		1,255			2,318			3,231			1,031			1,089			1,207			1,334			4,661			1,446			1,560			1,698			1,857			6,561
AWS		42,476			41,188			41,457			40,435			38,822			38,201			37,598			38,668			39,177			37,592			36,359			35,498			37,031
Comp sales change		0.3	%		2.0	%		4.0	%		-2.0	%		-3.9	%		-1.5	%		-0.7	%		-2.0	%		0.5	%		1.0	%		-1.0	%		-0.4	%		0.0	%
Revenues		53,308			95,473			133,949			41,689			42,276			46,110			50,155			180,230			56,656			58,649			61,738			65,919			242,962
per FDS	$	2.03		$	3.59		$	4.96		$	1.53		$	1.55		$	1.74		$	1.94		$	6.74		$	2.18		$	2.24		$	2.37		$	2.52		$	9.30

Operating costs
Cost of sales		15,805			27,608			37,561			11,669			11,475			12,823			13,725			49,692			15,851			16,070			16,922			18,081			66,924
Labor		17,842			31,773			45,117			14,285			14,627			16,250			17,515			62,677			19,551			20,480			21,843			23,362			85,236
Operating		7,611			14,450			22,048			6,944			7,557			8,076			8,205			30,782			9,382			10,004			10,835			11,701			41,922
Occupancy		3,381			5,797			8,093			2,634			2,797			3,064			3,230			11,725			3,636			3,963			4,231			4,575			16,405
Minority interest		527			901			1,109			289			280			231			323			1,123			314			284			209			396			1,203
General and administrative		4,019			6,318			6,907			2,299			2,485			2,276			2,327			9,387			3,030			2,878			3,342			3,238			12,488
Depreciation & amortization		2,403			4,377			5,977			1,979			2,064			2,454			2,708			9,205			2,823			3,164			3,417			3,691			13,095
Restaurant operating income		1,720			4,249			7,137			1,590			991			936			2,122			5,639			2,069			1,806			939			875			5,689

Development costs
Preopening expenses		1,764			2,137			3,217			603			1,126			1,204			1,350			4,283			1,283			1,506			1,965			1,233			5,987
Partner investment expense		255			2,596			1,274			(226	)		355			531			236			896			525			285			362			396			1,568

Other expenses Interest and other (income) expense, net		(5	)		—			(15	)		(3	)		(33	)		(4	)		55			15			6			(22	)		22			—			6
Provision for income taxes		(98	)		(141	)		824			377			(107	)		(213	)		178			235			69			10			(304	)		(198	)		(423	)
Net income		(196	)		(343	)		1,837			839			(350	)		(582	)		303			210			186			27			(1,106	)		(556	)		(1,449	)

per FDS	$	(0.01	)	$	(0.01	)	$	0.07		$	0.03		$	(0.01	)	$	(0.02	)	$	0.01		$	0.01		$	0.01		$	—		$	(0.04	)	$	(0.02	)	$	(0.06	)

Fully diluted shares (FDS)		26,250			26,575			27,000 2			7,239			27,258			26,558 2			5,893			26,737 2			6,046 2			6,129			26,105			26,200			26,120

Revenues		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Cost of sales		29.6	%		28.9	%		28.0	%		28.0	%		27.1	%		27.8	%		27.4	%		27.6	%		28.0	%		27.4	%		27.4	%		27.4	%		27.5	%
Labor		33.5	%		33.3	%		33.7	%		34.3	%		34.6	%		35.2	%		34.9	%		34.8	%		34.5	%		34.9	%		35.4	%		35.4	%		35.1	%
Operating		14.3	%		15.1	%		16.5	%		16.7	%		17.9	%		17.5	%		16.4	%		17.1	%		16.6	%		17.1	%		17.5	%		17.8	%		17.3	%
Occupancy		6.3	%		6.1	%		6.0	%		6.3	%		6.6	%		6.6	%		6.4	%		6.5	%		6.4	%		6.8	%		6.9	%		6.9	%		6.8	%
Minority interest		1.0	%		0.9	%		0.8	%		0.7	%		0.7	%		0.5	%		0.6	%		0.6	%		0.6	%		0.5	%		0.3	%		0.6	%		0.5	%
General and administrative		7.5	%		6.6	%		5.2	%		5.5	%		5.9	%		4.9	%		4.6	%		5.2	%		5.3	%		4.9	%		5.4	%		4.9	%		5.1	%
Depreciation & amortization		4.5	%		4.6	%		4.5	%		4.7	%		4.9	%		5.3	%		5.4	%		5.1	%		5.0	%		5.4	%		5.5	%		5.6	%		5.4	%

Restaurant operating income		3.2	%		4.5	%		5.3	%		3.8	%		2.3	%		2.0	%		4.2	%		3.1	%		3.7	%		3.1	%		1.5	%		1.3	%		2.3	%

Preopening expenses		3.3	%		2.2	%		2.4	%		1.4	%		2.7	%		2.6	%		2.7	%		2.4	%		2.3	%		2.6	%		3.2	%		1.9	%		2.5	%
Partner investment expense		0.5	%		2.7	%		1.0	%		-0.5	%		0.8	%		1.2	%		0.5	%		0.5	%		0.9	%		0.5	%		0.6	%		0.6	%		0.6	%
Interest and other (income) expense, net		0.0	%		0.0	%		0.0	%		0.0	%		-0.1	%		0.0	%		0.1	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Provision for income taxes		-0.2	%		-0.1	%		0.6	%		0.9	%		-0.3	%		-0.5	%		0.4	%		0.1	%		0.1	%		0.0	%		-0.5	%		-0.3	%		-0.2	%

Net income		-0.4	%		-0.4	%		1.4	%		2.0	%		-0.8	%		-1.3	%		0.6	%		0.1	%		0.3	%		0.0	%		-1.8	%		-0.8	%		-0.6	%


Reconciliation of Non-GAAP Financial Information to GAAP measures:
Restaurant operating income		1,720			4,249			7,137			1,590			991			936			2,122			5,639			2,069			1,806			939			875			5,689
Add: Minority interest		527			901			1,109			289			280			231			323			1,123			314			284			209			396			1,203
Less: Preopening expenses		(1,764	)		(2,137	)		(3,217	)		(603	)		(1,126	)		(1,204	)		(1,350	)		(4,283	)		(1,283	)		(1,506	)		(1,965	)		(1,233	)		(5,987	)
Less: Partner investment expense		(255	)		(2,596	)		(1,274	)		226			(355	)		(531	)		(236	)		(896	)		(525	)		(285	)		(362	)		(396	)		(1,568	)

Income from operations		228			417			3,755			1,502			(210	)		(568	)		859			1,583			575			299			(1,179	)		(358	)		(663	)

Page 9 of 10

Concept: Taneko Japanese Tavern
Supplemental Financial Information — Forecast


																									Forecast
	1Q06			2Q06			3Q06			4Q06			2006			1Q07A			2Q07A			3Q07A			4Q07			2007

Units											1			1			1			1			1			1			1
Sales weeks											13			13			13			13			13			13			52
AWS											57,077			57,077			55,538			45,077			46,000			50,000			49,154
Comp sales change Revenues											742			742			722			586			598			650			2,556
per FDS										$	0.03		$	0.03		$	0.03		$	0.02		$	0.02		$	0.02		$	0.10

Operating costs
Cost of sales		—			—			—			323			323			283			245			227			273			1,028
Labor		—			—			—			339			339			371			358			338			325			1,392
Operating		—			—			—			162			162			128			238			183			195			744
Occupancy		—			—			—			49			49			55			54			55			49			213
Minority interest		—			—			—			—			—			—			—			—			—			—
General and administrative		217			217			262			186			882			228			122			189			195			734
Depreciation & amortization		—			—			—			70			70			101			106			106			91			404
Restaurant operating income		(217	)		(217	)		(262	)		(387	)		(1,083	)		(444	)		(537	)		(500	)		(478	)		(1,959	)

Development costs
Preopening expenses		25			116			233			52			426			1			—			—			—			1
Partner investment expense		—			—			—			—			—			—			—			—			—			—

Other expenses
Interest and other (income) expense, net		—			—			—			—			—			—			—			—			—			—
Provision for income taxes		(74	)		(78	)		(133	)		(133	)		(418	)		(120	)		(139	)		(108	)		(125	)		(492	)
Net income		(168	)		(255	)		(362	)		(306	)		(1,091	)		(325	)		(398	)		(392	)		(353	)		(1,468	)

per FDS	$	(0.01	)	$	(0.01	)	$	(0.01	)	$	(0.01	)	$	(0.04	)	$	(0.01	)	$	(0.02	)	$	(0.02	)	$	(0.01	)	$	(0.06	)

Fully diluted shares (FDS)		27,239			27,258			26,558			25,893			26,737			26,046			26,129			26,105			26,200			26,120

Revenues											100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%
Cost of sales											43.5	%		43.5	%		39.2	%		41.8	%		38.0	%		42.0	%		40.2	%
Labor											45.7	%		45.7	%		51.4	%		61.1	%		56.5	%		50.0	%		54.5	%
Operating											21.8	%		21.8	%		17.7	%		40.6	%		30.6	%		30.0	%		29.1	%
Occupancy											6.6	%		6.6	%		7.6	%		9.2	%		9.2	%		7.5	%		8.3	%
Minority interest											0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
General and administrative											25.1	%		118.9	%		31.6	%		20.8	%		31.6	%		30.0	%		28.7	%
Depreciation & amortization											9.4	%		9.4	%		14.0	%		18.1	%		17.7	%		14.0	%		15.8	%

Restaurant operating income											-52.2	%		-146.0	%		-61.5	%		-91.6	%		-83.6	%		-73.5	%		-76.6	%

Preopening expenses											7.0	%		57.4	%		0.1	%		0.0	%		0.0	%		0.0	%		0.0	%
Partner investment expense											0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Interest and other (income) expense, net											0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Provision for income taxes											-17.9	%		-56.3	%		-16.6	%		-23.7	%		-18.1	%		-19.2	%		-19.2	%

Net income											-41.2	%		-147.0	%		-45.0	%		-67.9	%		-65.6	%		-54.3	%		-57.4	%


Reconciliation of Non-GAAP Financial Information to GAAP measures:
Restaurant operating income		(217	)		(217	)		(262	)		(387	)		(1,083	)		(444	)		(537	)		(500	)		(478	)		(1,959	)
Add: Minority interest		—			—			—			—			—			—			—			—			—			—
Less: Preopening expenses		(25	)		(116	)		(233	)		(52	)		(426	)		(1	)		—			—			—			(1	)
Less: Partner investment expense		—			—			—			—			—			—			—			—			—			—

Income from operations		(242	)		(333	)		(495	)		(439	)		(1,509	)		(445	)		(537	)		(500	)		(478	)		(1,960	)

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