SCOTTSDALE, Ariz., Jul 23, 2008 (BUSINESS WIRE) ----P.F. Chang's China Bistro, Inc. (NASDAQ: PFCB) today reported consolidated net income of $9.4 million for the second quarter ended June 29, 2008 compared to $9.3 million for the second quarter of the prior year. Net income per diluted share for the second quarter of fiscal 2008 was $0.39 and the prior year was $0.36.

 (000 except per share data) 2Q08 2Q07 -----------------
   Revenues $304,079 $266,823 Income from continuing operations $ 9,631 $ 9,630 Net income $ 9,398 $ 9,277 Income from continuing
   operations per diluted share $ 0.40 $ 0.37 Net income per diluted share $ 0.39 $ 0.36 Weighted average shares - diluted 24,247
   26,129 

For the second quarter of 2008, consolidated revenues were $304.1 million compared to $266.8 million for the second quarter of 2007. Sales at company-owned P.F. Chang's China Bistro restaurants accounted for $231.8 million of consolidated revenues and sales at the Company's Pei Wei Asian Diner restaurants accounted for $72.1 million of consolidated revenues.

For the 13 weeks ended June 29, 2008, comparable store sales decreased 2.3% at the Bistro as a reduction in overall guest traffic more than offset the benefit of a 4% to 5% average check increase reflecting the net impact of price increases and menu mix changes. Comparable store sales at the Bistro decreased 2.5%, 1.4%, and 2.9% in April, May and June, respectively.

For the 13 weeks ended June 29, 2008, comparable store sales decreased 3.2% at Pei Wei as a reduction in overall guest traffic more than offset the benefit of a slightly higher average check reflecting the net impact of price increases and menu mix changes. Comparable store sales at Pei Wei decreased 2.2%, 4.2%, and 3.5% for April, May and June, respectively.

Net income for both years includes a loss from discontinued operations related to the Company's previously announced decision to exit operation of its Taneko business. The Company has reached an agreement to sell Taneko's long-lived assets and the transaction is expected to close on August 1, 2008.

During the second quarter of 2008, the Company opened five new Bistro restaurants and four new Pei Wei restaurants.

2008 Expectations

"Revenues at both concepts for the second quarter were slightly below our expectations and we continue to believe that consumers will remain under economic pressure for the rest of the year," noted Rick Federico, CEO. "Despite our lower than anticipated revenue performance, we are pleased with our second quarter earnings which reflect better than anticipated operating results, as we continued to focus on improving operating margins and general & administrative costs, both of which were more favorable than expected during the quarter. We continue to remain optimistic about our business and given our better than expected results for the past two quarters, we are modestly increasing our earnings expectations for the year from a range of $1.34 - $1.40 per share to a range of $1.36 - $1.42 per share."

The Company plans to open a total of 17 new Bistro restaurants and 25 new Pei Wei restaurants during 2008 and expects full year fiscal 2008 consolidated revenues to increase 12 to 13 percent.

2009 Development

The Company has reduced its planned 2009 development and currently expects to open 12 to 14 new Bistro restaurants and 6 to 10 new Pei Wei restaurants during fiscal 2009 primarily reflecting the current macroeconomic environment.

Share Repurchase Program

During the second quarter of fiscal 2008, the Company repurchased a total of 0.4 million shares of common stock for $10.0 million at an average price of $25.38 using cash on hand. The Company's current remaining share repurchase authorization was $40.0 million at June 29, 2008.

The Company is hosting a conference call today at 1:00 pm ET in which management will provide further details on the second quarter results. A webcast of the call can be accessed through the company's website at http://www.pfcb.com.

P.F. Chang's China Bistro, Inc. owns and operates two restaurant concepts in the Asian niche. P.F. Chang's China Bistro features a blend of high-quality, traditional Chinese cuisine and American hospitality in a sophisticated, contemporary bistro setting. Pei Wei Asian Diner offers a modest menu of freshly prepared Asian cuisine in a relaxed, warm environment offering attentive counter service and take-out flexibility.

Note with respect to non-GAAP financial measures contained within Supplemental Financial Information

In addition to using GAAP results in evaluating the Company's business, management measures restaurant operating income to assess the performance of its existing restaurant concepts. Restaurant operating income includes all ongoing costs related to operating the Company's restaurants but excludes preopening expenses and partner investment expense. Because these costs are solely related to expansion of the Company's business, they make an accurate assessment of the health of its ongoing operations more difficult and are therefore excluded. Additionally, general and administrative expenses are only included in the Company's consolidated financial presentation as these costs relate to support of both restaurant concepts and are generally not specifically identifiable to individual restaurant operations. As the Company's expansion is funded entirely from its ongoing restaurant operations, restaurant operating income is a primary consideration of management when determining whether and when to open additional restaurants. The non-GAAP financial information presented herein should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Please see the non-GAAP to GAAP reconciliation at the bottom of pages 6 through 8 of this press release for a reconciliation of restaurant operating income to the most directly comparable GAAP measure, income from operations.

Note with respect to forward looking statements

The statements contained in this press release that are not purely historical, including the Company's estimates of its earnings, revenues and anticipated new restaurants are forward-looking statements. The accuracy of these forward-looking statements may be affected by certain risks and uncertainties, including, but not limited to, the Company's ability to locate acceptable restaurant sites; open new restaurants and operate its restaurants profitably; the Company's ability to hire, train and retain skilled management and other personnel; the company's ability to access sufficient financing on acceptable terms; changes in consumer tastes and trends; customer acceptance of new concepts; national, regional and local economic and weather conditions; changes in costs related to food, utilities and labor; and other risks described in the Company's recent SEC filings.

 P.F. Chang's China Bistro, Inc. ----------------------------------------------------------------------
   Consolidated Statements of Operations (In thousands, except per share amounts) (Unaudited) 13 Weeks Ended -----------------
   June 29, July 1, 2008 2007 -------- -------- Revenues $304,079 $266,823 Costs and expenses: Cost of sales 82,869 72,766 Labor
   101,109 90,307 Operating 49,907 42,198 Occupancy 17,836 15,561 General & administrative 19,128 15,684 Depreciation &
   amortization 17,431 13,500 Preopening expense 1,809 3,296 Partner investment expense (500) (468) -------- -------- Total costs
   and expenses 289,589 252,844 -------- -------- Income from operations 14,490 13,979 Interest and other income (expense), net
   (949) 179 Minority interest (487) (1,121) -------- -------- Income from continuing operations before provision for income
   taxes 13,054 13,037 Provision for income taxes (3,423) (3,407) -------- -------- Income from continuing operations 9,631 9,630
   Loss from discontinued operations, net of tax (233) (353) -------- -------- Net income $ 9,398 $ 9,277 ======== ======== Basic
   income per share: Income from continuing operations $ 0.40 $ 0.37 Loss from discontinued operations, net of tax (0.01) (0.01)
   -------- -------- Net income $ 0.39 $ 0.36 ======== ======== Diluted income per share: Income from continuing operations $
   0.40 $ 0.37 Loss from discontinued operations, net of tax (0.01) (0.01) -------- -------- Net income $ 0.39 $ 0.36 ========
   ======== Weighted average shares used in computation - basic 23,898 25,708 ======== ======== Weighted average shares used
   in computation - diluted 24,247 26,129 ======== ======== 

 P.F. Chang's China Bistro, Inc. ----------------------------------------------------------------------
   Consolidated Statements of Operations (In thousands, except per share amounts) (Unaudited) 26 Weeks Ended -----------------
   June 29, July 1, 2008 2007 -------- -------- Revenues $612,659 $530,507 Costs and expenses: Cost of sales 167,173 145,398
   Labor 205,667 179,170 Operating 98,569 83,264 Occupancy 35,755 30,414 General & administrative 37,649 32,178 Depreciation
   & amortization 34,083 26,078 Preopening expense 4,633 5,835 Partner investment expense (89) (1,869) -------- --------
   Total costs and expenses 583,440 500,468 -------- -------- Income from operations 29,219 30,039 Interest and other income
   (expense), net (1,883) 522 Minority interest (1,192) (2,768) -------- -------- Income from continuing operations before provision
   for income taxes 26,144 27,793 Provision for income taxes (6,849) (7,405) -------- -------- Income from continuing operations
   19,295 20,388 Loss from discontinued operations, net of tax (276) (646) -------- -------- Net income $ 19,019 $ 19,742 ========
   ======== Basic income per share: Income from continuing operations $ 0.81 $ 0.80 Loss from discontinued operations, net of
   tax (0.02) (0.03) -------- -------- Net income $ 0.79 $ 0.77 ======== ======== Diluted income per share: Income from continuing
   operations $ 0.79 $ 0.78 Loss from discontinued operations, net of tax (0.01) (0.02) -------- -------- Net income $ 0.78 $
   0.76 ======== ======== Weighted average shares used in computation - basic 23,935 25,598 ======== ======== Weighted average
   shares used in computation - diluted 24,271 26,088 ======== ======== 

 P.F. Chang's China Bistro, Inc. ----------------------------------------------------------------------
   Supplemental Financial Information ---------- 2006 1Q07 2Q07 ---------- ----------------------- Units 259 269 283 Sales weeks
   11,848 3,425 3,588 AWS 79,074 76,988 74,365 Revenues 936,864 263,684 266,823 Operating costs Cost of sales 256,259 72,632
   72,766 Labor 309,774 88,863 90,307 Operating 146,247 41,066 42,198 Occupancy 52,408 14,853 15,561 Minority interest 8,116
   1,647 1,121 Depreciation & amortization 44,793 12,578 13,500 Restaurant operating income 119,267 32,045 31,370 Development
   costs Preopening expenses 12,286 2,539 3,296 Partner investment expense 4,371 (1,401) (468) Other expenses General and administrative
   (1) 56,030 16,494 15,684 Interest and other (income) expense, net (1,315) (343) (179) Provision for income taxes 13,712 3,998
   3,407 Income from continuing operations 34,183 10,758 9,630 Loss from discontinued operations, net of tax (930) (293) (353)
   Net income 33,253 10,465 9,277 Income from continuing operations per FDS $ 1.28 $ 0.41 $ 0.37 Fully diluted shares (FDS) 26,737
   26,046 26,129 Revenues 100.0% 100.0% 100.0% Cost of sales 27.4% 27.5% 27.3% Labor 33.1% 33.7% 33.8% Operating 15.6% 15.6%
   15.8% Occupancy 5.6% 5.6% 5.8% Minority interest 0.9% 0.6% 0.4% Depreciation & amortization 4.8% 4.8% 5.1% ----------
   ----------------------- Restaurant operating income 12.7% 12.2% 11.8% ---------- ----------------------- Preopening expenses
   1.3% 1.0% 1.2% Partner investment expense 0.5% (0.5%) (0.2%) General and administrative (1) 6.0% 6.3% 5.9% Interest and other
   (income) expense, net (0.1%) (0.1%) (0.1%) Provision for income taxes 1.5% 1.5% 1.3% ---------- ----------------------- Income
   from continuing operations 3.6% 4.1% 3.6% ---------- ----------------------- Loss from discontinued operations, net of tax
   (0.1%) (0.1%) (0.1%) ---------- ----------------------- Net income 3.5% 4.0% 3.5% ---------- ----------------------- Reconciliation
   of Non-GAAP Financial Information to GAAP measures: ----------------------------------- Restaurant operating income 119,267
   32,045 31,370 Add: Minority interest 8,116 1,647 1,121 Less: General and administrative (1) (56,030) (16,494) (15,684) Less:
   Preopening expenses (12,286) (2,539) (3,296) Less: Partner investment expense (4,371) 1,401 468 ---------- -----------------------
   Income from operations 54,696 16,060 13,979 ---------- ----------------------- ------------ 3Q07 4Q07 2007 -----------------------------------
   Units 299 316 316 Sales weeks 3,776 4,060 14,849 AWS 71,579 71,905 73,589 Revenues 270,282 291,933 1,092,722 Operating costs
   Cost of sales 73,865 80,450 299,713 Labor 91,789 97,100 368,059 Operating 43,816 46,913 173,993 Occupancy 15,970 16,727 63,111
   Minority interest 808 593 4,169 Depreciation & amortization 14,749 16,005 56,832 Restaurant operating income 29,285 34,145
   126,845 Development costs Preopening expenses 4,939 4,209 14,983 Partner investment expense (71) (72) (2,012) Other expenses
   General and administrative (1) 17,186 17,604 66,968 Interest and other (income) expense, net 10 612 100 Provision for income
   taxes 1,618 2,540 11,563 Income from continuing operations 5,603 9,252 35,243 Loss from discontinued operations, net of tax
   (328) (2,206) (3,180) Net income 5,275 7,046 32,063 Income from continuing operations per FDS $ 0.21 $ 0.37 $ 1.36 Fully diluted
   shares (FDS) 26,105 25,257 25,899 Revenues 100.0% 100.0% 100.0% Cost of sales 27.3% 27.6% 27.4% Labor 34.0% 33.3% 33.7% Operating
   16.2% 16.1% 15.9% Occupancy 5.9% 5.7% 5.8% Minority interest 0.3% 0.2% 0.4% Depreciation & amortization 5.5% 5.5% 5.2%
   ----------------------------------- Restaurant operating income 10.8% 11.7% 11.6% ----------------------------------- Preopening
   expenses 1.8% 1.4% 1.4% Partner investment expense (0.0%) (0.0%) (0.2%) General and administrative (1) 6.4% 6.0% 6.1% Interest
   and other (income) expense, net 0.0% 0.2% 0.0% Provision for income taxes 0.6% 0.9% 1.1% -----------------------------------
   Income from continuing operations 2.1% 3.2% 3.2% ----------------------------------- Loss from discontinued operations, net
   of tax (0.1%) (0.8%) (0.3%) ----------------------------------- Net income 2.0% 2.4% 2.9% -----------------------------------
   Reconciliation of Non-GAAP Financial Information to GAAP measures: --------------------------------- Restaurant operating
   income 29,285 34,145 126,845 Add: Minority interest 808 593 4,169 Less: General and administrative (1) (17,186) (17,604) (66,968)
   Less: Preopening expenses (4,939) (4,209) (14,983) Less: Partner investment expense 71 72 2,012 -----------------------------------
   Income from operations 8,039 12,997 51,075 ----------------------------------- ---------- YTD Q2 1Q08 2Q08 2008 ---------------------------------
   Units 332 341 341 Sales weeks 4,252 4,386 8,638 AWS 72,573 69,329 70,926 Revenues 308,580 304,079 612,659 Operating costs
   Cost of sales 84,304 82,869 167,173 Labor 104,558 101,109 205,667 Operating 48,662 49,907 98,569 Occupancy 17,919 17,836 35,755
   Minority interest 705 487 1,192 Depreciation & amortization 16,652 17,431 34,083 Restaurant operating income 35,780 34,440
   70,220 Development costs Preopening expenses 2,824 1,809 4,633 Partner investment expense 411 (500) (89) Other expenses General
   and administrative (1) 18,521 19,128 37,649 Interest and other (income) expense, net 934 949 1,883 Provision for income taxes
   3,398 3,451 6,849 Income from continuing operations 9,692 9,603 19,295 Loss from discontinued operations, net of tax (43)
   (233) (276) Net income 9,649 9,370 19,019 Income from continuing operations per FDS $ 0.40 $ 0.40 $ 0.79 Fully diluted shares
   (FDS) 24,295 24,247 24,271 Revenues 100.0% 100.0% 100.0% Cost of sales 27.3% 27.3% 27.3% Labor 33.9% 33.3% 33.6% Operating
   15.8% 16.4% 16.1% Occupancy 5.8% 5.9% 5.8% Minority interest 0.2% 0.2% 0.2% Depreciation & amortization 5.4% 5.7% 5.6%
   --------------------------------- Restaurant operating income 11.6% 11.3% 11.5% --------------------------------- Preopening
   expenses 0.9% 0.6% 0.8% Partner investment expense 0.1% (0.2%) (0.0%) General and administrative (1) 6.0% 6.3% 6.1% Interest
   and other (income) expense, net 0.3% 0.3% 0.3% Provision for income taxes 1.1% 1.1% 1.1% ---------------------------------
   Income from continuing operations 3.1% 3.2% 3.1% --------------------------------- Loss from discontinued operations, net
   of tax (0.0%) (0.1%) (0.0%) --------------------------------- Net income 3.1% 3.1% 3.1% ---------------------------------
   Reconciliation of Non-GAAP Financial Information to GAAP measures: ------------------------------------- Restaurant operating
   income 35,780 34,440 70,220 Add: Minority interest 705 487 1,192 Less: General and administrative (1) (18,521) (19,128) (37,649)
   Less: Preopening expenses (2,824) (1,809) (4,633) Less: Partner investment expense (411) 500 89 ---------------------------------
   Income from operations 14,729 14,490 29,219 --------------------------------- Note: Consolidated results include the impact
   of Shared Services and Other as well as the Bistro and Pei Wei concepts (1) Consolidated general and administrative expenses
   includes the costs of supporting the Company, including all concepts 

 Concept: P.F. Chang's China Bistro ----------------------------------------------------------------------
   Supplemental Financial Information -------- 2006 1Q07 2Q07 3Q07 4Q07 -------- ------------------------------------ Units 152
   153 157 162 172 Sales weeks 7,187 1,979 2,028 2,078 2,204 AWS 105,265 104,592 102,615 100,325 102,514 Revenues 756,634 207,028
   208,174 208,544 225,997 Operating costs Cost of sales 206,567 56,781 56,696 56,943 62,158 Labor 247,097 69,312 69,827 69,946
   73,834 Operating 115,465 31,684 32,194 32,981 35,004 Occupancy 40,683 11,217 11,598 11,739 12,505 Minority interest 6,993
   1,333 837 599 582 Depreciation & amortization 34,451 9,483 10,054 10,861 11,896 Restaurant operating income 105,378 27,218
   26,968 25,475 30,018 Revenues 100.0% 100.0% 100.0% 100.0% 100.0% Cost of sales 27.3% 27.4% 27.2% 27.3% 27.5% Labor 32.7% 33.5%
   33.5% 33.5% 32.7% Operating 15.3% 15.3% 15.5% 15.8% 15.5% Occupancy 5.4% 5.4% 5.6% 5.6% 5.5% Minority interest 0.9% 0.6% 0.4%
   0.3% 0.3% Depreciation & amortization 4.6% 4.6% 4.8% 5.2% 5.3% -------- ------------------------------------ Restaurant
   operating income 13.9% 13.1% 13.0% 12.2% 13.3% -------- ------------------------------------ Reconciliation of Non- GAAP Financial
   Information to GAAP measures: ------------------------ Restaurant operating income 105,378 27,218 26,968 25,475 30,018 Add:
   Minority interest 6,993 1,333 837 599 582 Less: Preopening expenses (8,004) (1,256) (1,790) (2,974) (2,992) Less: Partner
   investment expense (3,475) 1,926 753 433 246 -------- ------------------------------------ Income from operations 100,892
   29,221 26,768 23,533 27,854 -------- ------------------------------------ -------- -------- YTD Q2 2007 1Q08 2Q08 2008 ----------
   -------------------------- Units 172 177 182 182 Sales weeks 8,289 2,275 2,330 4,605 AWS 102,486 103,763 99,502 101,607 Revenues
   849,743 236,089 231,972 468,061 Operating costs Cost of sales 232,578 64,410 62,999 127,409 Labor 282,919 79,318 76,153 155,471
   Operating 131,863 36,324 36,603 72,927 Occupancy 47,059 12,981 12,730 25,711 Minority interest 3,351 497 370 867 Depreciation
   & amortization 42,294 12,265 12,794 25,059 Restaurant operating income 109,679 30,294 30,323 60,617 Revenues 100.0% 100.0%
   100.0% 100.0% Cost of sales 27.4% 27.3% 27.2% 27.2% Labor 33.3% 33.6% 32.8% 33.2% Operating 15.5% 15.4% 15.8% 15.6% Occupancy
   5.5% 5.5% 5.5% 5.5% Minority interest 0.4% 0.2% 0.2% 0.2% Depreciation & amortization 5.0% 5.2% 5.5% 5.4% ---------- --------------------------
   Restaurant operating income 12.9% 12.8% 13.1% 13.0% ---------- -------------------------- Reconciliation of Non-GAAP Financial
   Information to GAAP measures: --------------------------------- Restaurant operating income 109,679 30,294 30,323 60,617 Add:
   Minority interest 3,351 497 370 867 Less: Preopening expenses (9,012) (1,729) (1,271) (3,000) Less: Partner investment expense
   3,358 245 500 745 ---------- -------------------------- Income from operations 107,376 29,307 29,922 59,229 ---------- --------------------------
   Note: General and administrative expenses are reflected in the Company's consolidated results 

 Concept: Pei Wei
   Asian Diner ---------------------------------------------------------------------- Supplemental Financial Information --------
   2006 1Q07 2Q07 3Q07 4Q07 -------- -------------------------------- Units 107 116 126 137 144 Sales weeks 4,661 1,446 1,560
   1,698 1,856 AWS 38,668 39,177 37,592 36,359 35,523 Revenues 180,230 56,656 58,649 61,738 65,936 Operating costs Cost of sales
   49,692 15,851 16,070 16,922 18,292 Labor 62,677 19,551 20,480 21,843 23,266 Operating 30,782 9,382 10,004 10,835 11,909 Occupancy
   11,725 3,636 3,963 4,231 4,222 Minority interest 1,123 314 284 209 11 Depreciation & amortization 9,205 2,823 3,164 3,417
   3,718 Restaurant operating income 15,026 5,099 4,684 4,281 4,518 Revenues 100.0% 100.0% 100.0% 100.0% 100.0% Cost of sales
   27.6% 28.0% 27.4% 27.4% 27.7% Labor 34.8% 34.5% 34.9% 35.4% 35.3% Operating 17.1% 16.6% 17.1% 17.5% 18.1% Occupancy 6.5% 6.4%
   6.8% 6.9% 6.4% Minority interest 0.6% 0.6% 0.5% 0.3% 0.0% Depreciation & amortization 5.1% 5.0% 5.4% 5.5% 5.6% --------
   -------------------------------- Restaurant operating income 8.3% 9.0% 8.0% 6.9% 6.9% -------- --------------------------------
   Reconciliation of Non-GAAP Financial Information to GAAP measures: ---------------------------- Restaurant operating income
   15,026 5,099 4,684 4,281 4,518 Add: Minority interest 1,123 314 284 209 11 Less: Preopening expenses (4,283) (1,283) (1,506)
   (1,965) (1,217) Less: Partner investment expense (896) (525) (285) (362) (174) -------- -------------------------------- Income
   from operations 10,970 3,605 3,177 2,163 3,138 -------- -------------------------------- -------- -------- YTD Q2 2007 1Q08
   2Q08 2008 ---------- ------------------------ Units 144 155 159 159 Sales weeks 6,560 1,977 2,056 4,033 AWS 37,037 36,667
   35,071 35,854 Revenues 242,979 72,491 72,107 144,598 Operating costs Cost of sales 67,135 19,894 19,870 39,764 Labor 85,140
   25,240 24,956 50,196 Operating 42,130 12,338 13,304 25,642 Occupancy 16,052 4,938 5,106 10,044 Minority interest 818 208 117
   325 Depreciation & amortization 13,122 4,056 4,276 8,332 Restaurant operating income 18,582 5,817 4,478 10,295 Revenues
   100.0% 100.0% 100.0% 100.0% Cost of sales 27.6% 27.4% 27.6% 27.5% Labor 35.0% 34.8% 34.6% 34.7% Operating 17.3% 17.0% 18.5%
   17.7% Occupancy 6.6% 6.8% 7.1% 6.9% Minority interest 0.3% 0.3% 0.2% 0.2% Depreciation & amortization 5.4% 5.6% 5.9% 5.8%
   ---------- ------------------------ Restaurant operating income 7.6% 8.0% 6.2% 7.1% ---------- ------------------------ Reconciliation
   of Non-GAAP Financial Information to GAAP measures: ----------------------------------- Restaurant operating income 18,582
   5,817 4,478 10,295 Add: Minority interest 818 208 117 325 Less: Preopening expenses (5,971) (1,095) (538) (1,633) Less: Partner
   investment expense (1,346) (656) - (656) ---------- ------------------------ Income from operations 12,083 4,274 4,057 8,331
   ---------- ------------------------ Note: General and administrative expenses are reflected in the Company's consolidated
   results 

 ---------------------------------------------------------------------- P.F. Chang's China Bistro Supplemental
   Sales Information (Company Owned) Year of Unit Opening (1) Pre-2001 2001 2002 2003 2004 -----------------------------------------
   Units 51 13 14 18 18 Sales (000) 1Q08 77,380 19,067 18,306 25,155 20,281 2Q08 74,274 18,060 17,363 24,390 19,911 2008 151,654
   37,127 35,669 49,545 40,192 Average Weekly Sales (AWS) 1Q08 116,712 112,823 100,580 107,502 86,670 2Q08 112,028 106,861 95,399
   104,231 85,088 2008 114,370 109,842 97,990 105,867 85,879 Year-Over-Year Change in AWS (2) 1Q08 -0.4% 1.4% 0.6% 0.8% 0.6%
   2Q08 -3.0% -0.5% 0.0% -0.5% -2.8% 2008 -1.7% 0.5% 0.3% 0.1% -1.1% Year-Over-Year Change Comp Store Sales (3) Units 51 13 14
   18 18 1Q08 -0.4% 1.4% 0.6% 0.8% 0.6% 2Q08 -3.0% -0.5% 0.0% -0.5% -2.8% 2008 -1.7% 0.5% 0.3% 0.1% -1.1% 2005 2006 2007 2008
   Total -------------------------------------- Units 18 20 20 10 182 Sales (000) 1Q08 21,118 23,785 26,976 3,992 236,060 2Q08
   20,332 23,076 25,122 9,312 231,840 2008 41,450 46,861 52,098 13,304 467,900 Average Weekly Sales (AWS) 1Q08 90,248 91,482
   103,752 102,364 103,763 2Q08 86,890 88,754 96,623 99,059 99,502 2008 88,569 90,118 100,187 100,028 101,607 Year-Over-Year
   Change in AWS (2) 1Q08 0.2% -7.9% 3.5% - -0.8% 2Q08 -2.1% -4.9% -13.9% - -2.7% 2008 -1.0% -6.4% -13.1% - -1.7% Year-Over-Year
   Change Comp Store Sales (3) Units 18 20 - - 152 1Q08 0.2% -2.0% - - 0.1% 2Q08 -2.1% -4.7% - - -2.3% 2008 -1.0% -3.8% - - -1.1%
   (1) Includes all restaurants opened in the period indicated. (2) A unit is included in the year-over-year change in AWS in
   the thirteenth month of operation. (3) A unit becomes comparable in the eighteenth month of operation. 

 ----------------------------------------------------------------------
   Pei Wei Asian Diner Supplemental Sales Information Year of Unit Opening (1) 2000 2001 2002 2003 2004 ------------------------------------
   Units 1 4 11 17 20 Sales (000) 1Q08 730 2,086 5,725 8,942 10,617 2Q08 697 1,988 5,393 8,570 10,296 2008 1,427 4,074 11,118
   17,512 20,913 Average Weekly Sales (AWS) 1Q08 56,165 40,115 40,034 40,460 40,833 2Q08 53,587 38,234 37,713 38,776 39,601 2008
   54,876 39,175 38,874 39,618 40,217 Year-Over-Year Change in AWS (2) 1Q08 -6.7% -8.4% -7.6% -4.7% -0.7% 2Q08 -5.5% -5.1% -8.1%
   -7.0% -1.7% 2008 -6.1% -6.8% -7.9% -5.8% -1.2% Year-Over-Year Change Comp Store Sales (3) Units 1 4 11 17 20 1Q08 -6.7% -8.4%
   -7.6% -4.7% -0.7% 2Q08 -5.5% -5.1% -8.1% -7.0% -1.7% 2008 -6.1% -6.8% -7.9% -5.8% -1.2% 2005 2006 2007 2008 Total ------------------------------------
   Units 24 30 37 15 159 Sales (000) 1Q08 11,441 13,494 15,167 4,289 72,491 2Q08 11,049 13,121 14,515 6,478 72,107 2008 22,490
   26,615 29,682 10,767 144,598 Average Weekly Sales (AWS) 1Q08 36,669 34,599 31,531 40,863 36,667 2Q08 35,412 33,645 30,178
   35,204 35,071 2008 36,040 34,122 30,855 37,260 35,854 Year-Over-Year Change in AWS (2) 1Q08 -0.5% -2.1% -18.7% - -3.5% 2Q08
   -0.9% -1.6% -14.8% - -4.5% 2008 -0.7% -1.9% -15.8% - -4.0% Year-Over-Year Change Comp Store Sales (3) Units 24 30 3 - 110
   1Q08 -0.5% 1.4% - - -2.4% 2Q08 -0.9% -1.3% -0.9% - -3.2% 2008 -0.7% -0.2% -0.9% - -2.8% (1) Includes all restaurants opened
   in the period indicated. (2) A unit is included in the year-over-year change in AWS in the thirteenth month of operation.
   (3) A unit becomes comparable in the eighteenth month of operation. 

SOURCE: P.F. Chang's China Bistro, Inc.

P.F.
   Chang's China Bistro, Inc. Laura Cherry, 480-888-3000 (Media) laura.cherry@pfcb.com Mark Mumford, 480-888-3000 (Investor)
   mark.mumford@pfcb.com 

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