Burrito Joint Opens 500th Store Location; Chipotle's Commitment To Food With Integrity, Guest Experience Fuels Growth

(Friday, March 10, 2006) - While it's not so unusual
to see the opening of a Chipotle Mexican Grill (NYSE: CMG) in some
part of the country on a given day, today's opening in Fairview Park,
Ohio, represents something of a milestone. This newest store is the
500th restaurant for the Denver-based burrito joint. Not bad for a
restaurant that was never supposed to be a chain in the first place.

"When I first opened Chipotle almost 13 years ago, I had no
intention of starting a restaurant chain. I planned on doing just one
and using that to help me fund a 'real' restaurant," said Steve Ells,
Founder, Chairman and CEO of Chipotle. "That first restaurant proved
to be very relevant to people right from the start, so I opened a
second, then a third, and so on. Today, we are at 500, and counting,
and I'm delighted that we're making great food with natural
ingredients for so many people."

A classically trained chef, Ells started his restaurant with the
simple goal of demonstrating that food that was served fast didn't
have to be a typical fast-food experience. He used only simple, fresh
ingredients to prepare a focused menu of tacos and burritos. By using
common ingredients in unusual ways, Ells created food that was
extraordinary and became a pioneer in what is now known as the
"fast-casual" segment of the restaurant industry.

Little has changed after nearly 13 years and 500 restaurants. But
Ells' vision for Chipotle has evolved and deepened as his company has
grown.

"Today we recognize that fresh isn't enough," Ells explained.
"It's important to understand how animals are raised and how
vegetables are grown if you're going to source the best ingredients
and serve the best-tasting food."

That belief is at the foundation of a vision Chipotle calls Food
with Integrity. Under the Food with Integrity initiative, Chipotle
began sourcing naturally raised meat and produce. An increasing amount
of the meat we use comes from animals raised on a pure vegetarian diet
and without the use of antibiotics or hormones. By working with
suppliers such as Niman Ranch and Bell & Evans, among others, Chipotle
essentially created its own supply chain for naturally raised meat,
providing new opportunities for family farms to grow.

Today, all of the pork Chipotle uses is naturally raised, as is
nearly half of its chicken and one-third of its beef. In all, Chipotle
is serving more naturally raised meat than any other restaurant in
America. But Chipotle is not stopping there. The company is exploring
options for organic produce and today, some 20% of the beans it buys
are organic, with plans to increase that amount as the supply becomes
available. In fact, Chipotle is examining everything on its menu and
working to source better ingredients all the time.

"There isn't a switch we can throw and move to all naturally
raised meat and organic produce," said Ells. "The supply just isn't
there today. But the more people show a willingness to buy these
better ingredients, the more the supply will move to fill that
demand."

This newest store is the 11th restaurant Chipotle has opened in
2006, and one of 80 to 90 stores slated to open this year.

"What excites me most about this milestone is that our restaurants
just keep getting better. In fact, I think it's safe to say that the
restaurants we're opening today are, in many ways, better than the
original," said Ells. "As we continue moving in this direction, I
think we'll continue to change the way people think about, and eat,
food."

The 500th Chipotle is located at 21029 Center Ridge Road in
Fairview Park, Ohio. For one of the other 499 Chipotle locations,
visit www.chipotle.com.

About Chipotle

Chipotle Mexican Grill 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 its 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 store in
1993 and now operates 500. For additional information or to find the
Chipotle location nearest you, please visit www.chipotle.com.

Forward-Looking Statements

Some of the statements in this release that are not historical
facts and relate to future results and events, including, without
limitation, statements regarding the number of restaurants we intend
to open in fiscal 2006 , are "forward-looking statements" as defined
in the Private Securities Litigation Reform Act of 1995. These
statements are based upon our current beliefs and expectations and
involve risks and uncertainties. Actual results may vary materially
from those contained in forward-looking statements based on a number
of factors including, without limitation, factors that could affect
our ability to achieve and manage our planned expansion, such as the
availability of qualified employees and the availability of a
sufficient number of suitable new restaurant sites, changes in the
availability and costs of food; potential fluctuation in our quarterly
operating results due to seasonality and other factors, the potential
effects of inclement weather or terrorist attacks; and the risks
identified as "risk factors" in our registration statement on Form S-1
(Reg. No. 333129221), as amended, and the other factors identified
from time to time in our filings with the Securities and Exchange
Commission, all of which are available at www.sec.gov. Investors
should take these risks into account when making investment decisions.
Shareholders and other readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of
the date on which they are made. We undertake no obligation to update
any forward-looking statements.



CONTACT: Chipotle Mexican Grill
Chris Arnold, 303-222-5912
carnold@chipotle.com

SOURCE: Chipotle Mexican Grill

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

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