PRESS RELEASE Contact: William W. Moreton Chief Financial Officer Phone: 314-633-7123 PANERA BREAD COMPANY TO PRESENT AT BANC OF AMERICA SECURITIES 32ND ANNUAL INVESTMENT CONFERENCE St. Louis, MO September 20, 2002 - Panera Bread Company (Nasdaq: PNRA) will be presenting at the Banc of America Securities 32nd Annual Investment Conference to be held in San Francisco on Monday, September 23, 2002 at 3:00 PM PDT. An audio webcast of the presentation will be available over the Internet at http://www.veracast.com/webcasts/BAS/32nd-annual-2002/id62110421.cfm. A replay will be available through Friday, October 11, 2002 at 5:00 PM PDT.