Einstein Bros. Bagels Announces Signing Of Franchise Development Agreement

Franchisee Plans to Open Four Restaurants in Four Years

(Wednesday, August 08, 2007) - Einstein Noah Restaurant Group, Inc. is pleased to announce the signing of a multi-unit development agreement with Philip Enterprises, Inc. to franchise Einstein Bros.(R) Bagels restaurants and continue to expand the popular brand.

Based in Springdale, Arkansas, Philip Enterprises plans to open four Einstein Bros. Bagels restaurants within the next four years in the Northwest Arkansas area, specifically in Benton and Washington counties.

"Einstein Bros. is a popular brand for its craveable food and comfortable neighborhood atmosphere," said Mike Philip, president of Philip Enterprises. "It's a great fit for us and I am pleased that we will be bringing its variety of great tasting menu items with high-quality ingredients and quick casual service to the residents of Northwest Arkansas."

When the franchised restaurants open their doors, neighbors and guests in the Northwest Arkansas communities will be able to fill their breakfast, lunch and snack cravings with Einstein Bros. Bagels' menu, featuring award-winning bagels and shmear varieties, made-to-order breakfast and lunch sandwiches, Darn Good Coffee(R) and specialty coffee drinks, hearty soups, fresh innovative salads, baked goods and decadent desserts.

"Einstein Noah Restaurant Group is committed to bringing the Einstein Bros. Bagels brand to as many guests as possible through its expansion plans," said Paul Carolan, senior vice president of franchising and licensing. "We are pleased to see Mike Philip join the Einstein Bros. Bagels family and are committed to supporting him and all of our franchisees, present and future, as the system continues to grow."

About Einstein Noah Restaurant Group

Einstein Noah Restaurant Group Inc. is a leading company in the quick casual restaurant industry that operates and licenses locations primarily under the Einstein Bros. and Noah's New York Bagels brands and primarily franchises locations under the Manhattan Bagel brand. The company's retail system consists of approximately 600 restaurants in 36 states and the District of Columbia. It also operates a dough production facility. The company's stock is traded on the Nasdaq under the symbol BAGL. Visit http://www.einsteinnoah.com for additional information.

Forward looking statements

Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "estimate," "project," "plan to," "is designed to," "expectations," "intend," "indications," "expect," "should," "would," "believe," "target", "trend" and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, which could cause the actual results or achievements to differ from those expressed or implied by such forward-looking statements. These factors include but are not limited to the following: the ability of Philip Enterprises, Inc. to build, open and successfully run Einstein Bros. locations is dependent upon, among other factors, its ability to find suitable locations, reach acceptable lease terms, have adequate capital, find available contractors, obtain licenses and permits, locate and train staff appropriately and properly manage the new restaurants. These and other risks are more fully discussed in the Company's SEC filings.

Contact: Peter Jakel, (303) 568-8113

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