California Pizza Kitchen to Present at the Banc of America Securities Investment Conference.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Sept. 7, 2001

California Pizza Kitchen's (Nasdaq:CPKI) President and CEO Fred Hipp will speak to the investment community at the Banc of America Securities Investment Conference in San Francisco, CA on Thursday, September 13, 2001 at 9:00 a.m. PT.

Interested investors can listen to an audio replay of the presentation by going to www.cpk.com. The replay of the presentation will be available by the end of the day and will be archived until September 28, 2001.

The company now expects to open 16 restaurants by the end of 2001 versus an initial plan of 14 restaurants. The two additional restaurants are expected to open in November of 2001. "I am very pleased with our ability to exceed our goal of opening 14 new restaurants this year," said Fred Hipp, President and CEO. "While these two additional restaurants will put some pressure on 2001 fourth quarter earnings due to the upfront expense of pre-opening costs, they should provide us with more than $5,000,000 of additional sales and over $800,000 of additional cash flow for next year," added Hipp. To date the company has opened 9 new restaurants which are averaging over $54,000 per week in sales. The company expects to open two more restaurants by the end of the third quarter (for a total five new restaurants in the quarter) and five new restaurants in the fourth quarter. Additionally, the company anticipates opening a minimum of 20 new restaurants in 2002.

This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are not guarantees of future performance and, therefore, undue reliance should not be placed on them. Forward-looking statements can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Our actual results may differ materially from the expectations referred to herein. Among the key factors that may have a direct bearing on our operating results, performance and financial condition are the execution of our expansion strategy, the continued availability of qualified employees, the maintenance of reasonable food and supply costs and numerous other matters discussed in the Company's filings with the Securities and Exchange Commission. California Pizza Kitchen undertakes no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

California Pizza Kitchen, Inc., founded in 1985, is a leading casual dining chain in the premium pizza segment. The company's full service restaurants feature hearth-baked pizzas, salads, soups and sandwiches. The chain operates, licenses or franchises 124 restaurants of which 92 are company-owned, and 32 operate under franchise or license agreements. The California Pizza Kitchen website is http://www.cpk.com.