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New World's Einstein Bros Brand Added Three New Licensed Units In August; Total Of 25 Openings Expected For 2003

HAMILTON TOWNSHIP, N.J., Aug. 26 /PRNewswire-FirstCall/ -- New World Restaurant Group, Inc. (Pink Sheets: NWCI) is continuing to expand the reach of its Einstein Bros quick casual brand with openings of three new licensed locations in August and five additional openings planned for September. The company expects to open a total of approximately 25 Einstein Bros licensed locations during calendar 2003.

Working in partnership with leading dining services managers/providers such as Sodexho and ARAMARK (NYSE: RMK), New World's Einstein Bros is becoming a familiar sight on college campuses across the country. In August, Einstein Bros outlets were opened by Sodexho at Stetson University, Deland, Fla.; the University of South Carolina in Columbia; and the University of Pittsburgh, in Pittsburgh, Penn.

At the end of 2002, New World had 26 licensed outlets in non-traditional locations. These included 24 licensed Einstein Bros and two licensed Noah's New York Bagels outlets operating on college campuses, hospitals, airports and other venues across the country. With the openings anticipated for September and the fourth quarter, the number of licensed outlets will be nearly doubled by the end of 2003. Earlier this year, ARAMARK opened the first licensed Noah's unit on a college campus, at Portland State University in Oregon. In May, the University of Southern California in Los Angeles opened an Einstein Bros store in the new Zilkha Neurogenetic Institute on its health sciences campus.

"Our licensing program is one of the key initiatives we are developing to capitalize on the growing strength of our flagship brands in the quick casual restaurant segment. Our licensing partners' ability and desire to expand the reach of the Einstein Bros and Noah's brands on college campuses and within other high-traffic, non-traditional venues, is gaining momentum," said Greg Powell, New World vice president-franchising and business development. "Additionally, we continue to look in new directions to expand upon Einstein Bros' strong brand recognition in the marketplace. Our growing presence in over 100 Super Target (NYSE: TGT) stores across the country, coupled with our evolving partnership with LSG Skychefs in which Einstein Bros branded meals are currently served on 300-plus USAir flights daily, further reinforces Einstein Bros as a dominant brand in the quick casual marketplace."

New World is a leading company in the quick casual sandwich industry, the fastest growing restaurant segment. The company operates locations primarily under the Einstein Bros and Noah's New York Bagels brands and primarily franchises locations under the Manhattan Bagel and Chesapeake Bagel Bakery brands. As of July 1, 2003, the company's retail system consisted of 462 company-operated locations, as well as 249 franchised, and 28 licensed locations in 33 states. The company also operates dough production and coffee roasting facilities.

Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "estimate," "project," "intend," "expect," "should," "would," "believe" and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance (financial or operating), or achievements to differ from the future results, performance (financial or operating), or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the company's SEC filings.

SOURCE New World Restaurant Group, Inc.

 

 

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