OVERVIEW

Corporate Overview

The privately-held Panda Restaurant Group, Inc. (PRG) is the largest and fastest growing Asian restaurant company in the nation. Today, under the leadership of Founder and Chairman Andrew Cherng and his wife, Co-Chair Peggy Cherng, PhD, PRG operates three concepts – Panda Inn, Panda Express and Hibachi-San – totaling over 1300 units, with close to 18,000 associates in 38 states and Puerto Rico. Same store sales, the industry’s benchmark measurement of growth, have increased consecutively for 13 years from 1996 to 2008 with revenue exceeding $1.2 Billion in 2010. New restaurants continue to open at a fast pace – including close to 650 new locations just in the last four years.

Andrew and his father, Master Chef Ming-Tsai Cherng, established the first Panda Inn restaurant in 1973 in Pasadena, CA to serve gourmet Mandarin and Szechwan cuisine in an upscale, casual-dining atmosphere. They quickly won a loyal following with such original dishes as Tea Smoked Duck, Honey Walnut Shrimp and Lotus Leaf Rice. That provided the springboard and the inspiration for the launch of Panda Express in 1983, fulfilling Andrew’s vision of a unique restaurant that combined the gourmet cuisine of Panda Inn with a fast-casual format. The first Panda Express opened in the Glendale Galleria in Glendale, CA.

Panda Express is the growth engine of PRG, designed for people who welcome the exciting tastes of Chinese food. Each Panda Express is designed with its full-service roots in mind. From granite table tops, to vibrant colors and cultural décor, Panda Express restaurants reflect the company’s uncompromising passion for bringing quality Chinese food to neighborhoods across the United States.

At the core of Panda Express’ values is its commitment to guest satisfaction. Panda Express and its associates promise to energize guests with signature dishes such as Orange Chicken and SweetFire Chicken Breast, to enlightening guests through cultural celebrations such as Chinese New Year and the Dragon Boat Festival and to care for its guests through gracious hospitality and community involvement.

Leveraging its operations expertise and wealth of knowledge about Asian cuisine, PRG introduced Hibachi-San in 1992, a mall-based quick-service restaurant featuring a variety of Japanese grill and bowl entrées.

Panda’s mission is to deliver exceptional Asian dining experiences by building an organization where people are inspired to better their lives. The company has put people at the forefront of its success, investing in countless tools for professional advancement as well as personal growth. The company’s significant expansion plans mean unparalleled opportunities for those with a passion for Panda.

While versatile in non-traditional venues such as malls, airports and amusement parks, the majority of Panda’s portfolio consists of street locations. Panda continues to aggressively accelerate its development focusing on end-caps, free standing buildings and drive-thru concepts. In 1997, Panda opened its first drive-thru restaurant in Hesperia, Calif., paving the way close to 350 drive-thru units today.

PRG is deeply committed to the communities it serves with donations to countless non-profit organizations. Panda Cares is the company’s community involvement initiative, providing food, funding and volunteer services to organizations benefiting children and disaster relief efforts.

PRG’s company values are being proactive, respect/win-win, growth, great operations and giving. Panda is committed to delivering on this commitment to each guest, associate and partner.

FACT SHEET

Founder	Andrew Cherng Founder and Chairman of the Board
Company Overview	Panda Restaurant Group is the nation’s leader in Asian dining experiences and one of its largest family-owned businesses, operating several successful restaurant concepts including Panda Express, Panda Inn and Hibachi-San. The company’s mission is to deliver exceptional Asian dining experiences by building an organization where people are inspired to better their lives.
Restaurant Concepts	Panda Express offers extraordinary Chinese food with some signature tastes in a quick-service environment. Launched in 1983, there are more than 1439 Panda Express locations throughout 43 states and Puerto Rico. Panda Inn offers gourmet Mandarin and Szechuan cuisine in an upscale, casual-dining atmosphere. Panda Inn currently has 6 Southern California locations in Glendale, La Palma, Ontario, Pasadena, San Diego and our newest location at Universal City Walk, North Hollywood. The first restaurant opened in 1973. Hibachi-San is a quick-service restaurant featuring Japanese grill favorites. Hibachi-San has 27 locations throughout 12 states: Arizona, California, Colorado, Florida, Georgia, Hawaii, Maryland, Missouri, Nebraska, Nevada, New Jersey, Texas and Utah. The concept launched in 1992.
Financial Results	Panda Restaurant Group had annual revenues of more than $1.2 billion in 2009. Panda has achieved 13 consecutive years of same store sales growth, averaging 5% over that time from 1996 to 2008.
Employees	There are more than 18,000 associates company-wide.
Headquarters	Panda Restaurant Group 1683 Walnut Grove Avenue Rosemead, CA 91770 Tel: 626.799.9898 Website: www.PandaRG.com
Executive Management	Andrew Cherng Founder and Chairman of the Board Co-CEO Peggy Cherng, Ph.D. Co-Chairman of the Board Co-CEO Al Chaib Chief Operating Officer David Landsberg Chief Financial Officer and Interim SVP Restaurant Development Glenn Lunde Chief Marketing Officer Eileen Terry Chief People Officer Leonard Yip SVP & Chief Information Systems Officer Monte Baier General Counsel
Media Contact	Panda Restaurant Group, Inc. Thien Ho 1683 Walnut Grove Avenue Rosemead, CA 91770 Phone:  626.799.9898 ext. 6058