Press Release

ST. LOUIS, November 10, 2006 – The annual report to shareholders from Build-A-Bear Workshop, Inc. (NYSE: BBW) has been selected as the best in its industry in the prestigious 2006 BetterInvesting Nicholson Awards competition. More than 300 volunteers from BetterInvesting (formerly the National Association of Investors Corp., NAIC), the nonprofit investment-education organization that sponsors the annual awards, selected the winning annual report after evaluating, from an individual investor's perspective, hundreds of reports.

The competing annual reports were judged against similar-sized companies within their respective industries. Build-A-Bear Workshop, Inc. earned top honors in the Medium, Consumer Retail, Products & Services category. Build-A-Bear Workshop partnered with investor communications firm ProWolfe Partners to design and produce the annual report.

Now in its 29th year, BetterInvesting's Nicholson Awards program encourages publicly traded companies to produce clearer, more readable annual reports. Volunteer judges reviewed 223 submitted reports and provided each entrant with constructive feedback on how to communicate more effectively with current and potential investors. Reports are judged on financial reporting, content and design.

“Providing our shareholders, associates, business partners and Guests with an easy to understand and visually appealing annual report is an ongoing focus for Build-A-Bear Workshop,” said Maxine Clark, Build-A-Bear Workshop Founder and Chief Executive bear. “Our partners at ProWolfe truly understand the Build-A-Bear Workshop brand and help us effectively communicate our strategy. We're thrilled to have our annual report recognized by BetterInvesting.”

“In 1977, the Nicholson awards program was introduced, encouraging companies to provide annual reports that were easy for investors to use,” said Dick Holthaus, chairman and CEO of NAIC's BetterInvesting. “During the last 29 years, the quality of these annual reports has continuously improved, signaling that companies understand the importance of effectively communicating with their shareholders.”

In all, BetterInvesting honored 56 companies for outstanding annual reports in more than 28 separate industry categories. The awards are named in honor of George A. Nicholson Jr., one of BetterInvesting's founders. Nicholson devoted his life to helping individual investors realize the American dream by teaching the four BetterInvesting guidelines of investing for the long term: invest a set amount regularly regardless of market conditions, reinvest all dividends and capital gains for compound growth, buy growth stocks, and diversify your portfolios. These principles have produced financial success for individuals and investment clubs for more than 50 years.

A complete list of the 2006 Nicholson Awards winners, organized by industry, is available at http://www.betterinvestingnewsroom.org/releases/2006_Nicholson_Winners.pdf.

About BetterInvesting
BetterInvesting is the brand identity of the National Association of Investors Corporation, a national, nonprofit association with members consisting of investment clubs and individual investors. Founded in 1951 and with headquarters in Madison Heights, Mich., BetterInvesting is considered the pioneer of the modern investment club movement, as well as the voice of the individual investor. BetterInvesting is dedicated to providing a sound program of investment education and information to help its members become successful long-term, lifetime investors. The BetterInvesting community currently consists of nearly 165,000 individual members, and more than 16,000 investment clubs. On average, BetterInvesting members add a collective $130 million of new investment capital to their portfolios each month, and boast combined portfolio assets in excess of $117 billion. For more information about BetterInvesting, visit its website at www.betterinvesting.org or call toll free (877) 275-6242. For additional BetterInvesting data and news releases, visit the Newsroom website at www.betterinvestingnewsroom.org.

About Build-A-Bear Workshop, Inc.

Build-A-Bear Workshop, Inc. is the only global company that offers an interactive make-your-own stuffed animal retail-entertainment experience. Founded in St. Louis in 1997, the company currently operates more than 260 stores in the United States, Canada, the United Kingdom and Ireland. The addition of franchise stores in Europe, Asia and Australia make Build-A-Bear Workshop the leader in interactive retail. In November 2004, the company expanded the make-your-own concept from stuffed animals to dolls with the opening of its first friends 2B made® stores, where Guests can make their own doll friends. In April 2006, Build-A-Bear Workshop acquired The Bear Factory Limited and Amsbra, Ltd. adding company-owned stores in the United Kingdom and Ireland. Build-A-Bear Workshop (NYSE: BBW) posted total revenue of $362 million in fiscal 2005. For more information, call 888.560.BEAR (2327) or visit the company's award-winning Web sites at www.buildabear.com and www.friends2bmade.com.

About ProWolfe Partners
St. Louis-based ProWolfe Partners creates strategic marketing and investor communications. Since 1982 the company has partnered with clients to translate strategy into powerfully designed communications that connect with their audiences. The ProWolfe team develops award-winning corporate communications campaigns, annual reports, Web sites, branding programs, and more.

Contact:
Katy Lachky 314.423.8000 ext 5379
katyl@buildabear.com

Jill Saunders
314.423.8000 ext 5293
jills@buildabear.com