Chipotle, Mcdonald's Complete Separation

(Friday, October 13, 2006) - With the completion of its
tax-free swap of class B common stock in Chipotle Mexican Grill, Inc.
(NYSE:CMG), for its own common stock, McDonald's Corp. has fully
divested its investment in Chipotle.

McDonald's initially invested in Chipotle in 1998 when the
Denver-based burrito restaurant had about 15 units, making Chipotle
the first concept other than its own McDonald's ever invested in.
McDonald's grew to become Chipotle's largest investor in 2001.
McDonald's investment helped Chipotle build a national brand with more
than 500 restaurants.

"McDonald's original investment represented a strong vote of
confidence in what Chipotle was doing at the time," said Steve Ells,
Founder, Chairman and CEO of Chipotle, who sought McDonald's as an
investor to help finance the growth of his small burrito chain. "They
have been a terrific partner for us, providing needed capital, shared
access to other resources as needed, and also the autonomy to pursue
our vision."

Chipotle's vision -- to change the way Americans think about and
eat fast-food -- is most visible through a core value it calls Food
with Integrity (its effort to source the very best raw ingredients
from animals and produce which are raised with respect for the
farmers, the environment, and the animals).

As part of this vision, Chipotle became the first fast casual
chain to offer naturally raised pork from Niman Ranch. This naturally
raised pork comes from pigs that are fed a pure vegetarian diet, never
given antibiotics or added hormones, and raised on open pastures or in
deeply bedded barns where they can engage in their instinctive
behaviors. Today, all of the pork Chipotle serves is naturally raised,
coming from a small group of suppliers that includes Niman Ranch and
other like-minded farmers.

In addition to pork, Chipotle also sources naturally raised
chicken and beef in many of its markets around the country. Today,
more than half of Chipotle's chicken is naturally raised, as is a
third of its beef. In all, Chipotle is now serving more naturally
raised meat than any other restaurant in the country.

But Chipotle's efforts in this regard don't stop there. It is also
investigating and sourcing a wider array of sustainably grown and/or
organic ingredients. For example, this year, about 25% of the beans
Chipotle buys will be organic, up from 20% last year. The company
expects this quantity to keep increasing as additional supply becomes
available.

According to CIBC World Markets, Chipotle is leading a trend that
emphasizes natural and organic foods. CIBC cites Chipotle's focus on
Food with Integrity as a reason for the brand's success, particularly
in a marketplace in which organic and natural foods are a $25-$30
billion industry.

"The focus on our vision is as sharp as it has ever been and we
remain disciplined in pursuing each new step in this journey," said
Ells. "We're proud that we've been able to build a supply chain for
these superior ingredients, but we recognize that providing Food with
Integrity is a journey, a process of constantly looking to make better
choices about the food we serve, and we're committed to doing just
that."

About Chipotle

Chipotle Mexican Grill (NYSE:CMG) offers a focused menu of
burritos, tacos, burrito bols (a burrito without the tortilla) and
salads made from fresh, high-quality raw ingredients, prepared using
classic cooking methods and served in a distinctive atmosphere.
Through our vision of Food with Integrity, Chipotle is seeking better
food not only from a variety of fresh ingredients, but ingredients
that are sustainably grown and naturally raised with respect for the
animals, the land, and the farmers who produce the food. Chipotle
opened its first restaurant in 1993 and operates more than 530
restaurants today. For more information, visit www.chipotle.com.

For More Infromation Please contact:
Chris Arnold
Phone: 303-222-5912
Email: carnold@chipotle.com

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