FOR IMMEDIATE RELEASE

Date: JUNE, 2004

For more information contact: Mike Seiber - (619) 280-2600

PANERA BREAD COMPANY SIGNS LEASE
AT CREEKSIDE MARKET PLACE

San Marcos, CA 92069 - The City of San Marcos has leased approximately 4,340 square feet in the Creekside Market Place located at SEC Highway 78 and San Marcos Blvd., San Marcos, CA 92069 to Manna Development Group, LLC, doing business as Panera Bread Company for a restaurant.

The lease is for 10 years and a consideration of $1,595,037.00, according to Flocke & Avoyer Commercial Real Estate. The Tenant anticipates an October, 2004 opening.

Mike Seiber and Bill Thaxton of Flocke & Avoyer Commercial Real Estate represented the Lessor in this transaction. The Lessee was represented by Ron Pepper of Retail Insite.