California Pizza Kitchen, Inc. Reports Preliminary Second Quarter 2008 Results

California Pizza Kitchen, Inc. (Nasdaq:CPKI) announced today that revenues increased 11.3% to $176.6 million for the second quarter ended June 29, 2008 versus $158.6 million in the second quarter of 2007. Comparable restaurant sales increased approximately 1.4% compared to 5.4% in the second quarter a year ago.

During its May 8, 2008 first quarter conference call, the Company forecasted flat comparable restaurant sales and earnings of $0.16 to $0.17 per diluted share for the second quarter. Based on second quarter revenues, positive comparable restaurant sales from the Company's Thank You Card Program and a continued focus on operating efficiencies, the Company now expects earnings of $0.25-$0.26 per diluted share.

Rick Rosenfield and Larry Flax, co-CEOs of California Pizza Kitchen, Inc., stated, "We are very pleased with our second quarter preliminary results given the challenging market conditions. However, despite our better-than-expected performance, we are not adjusting full year 2008 guidance at this time due to limited sales visibility and an ongoing concern for the economy. We will address our outlook in greater detail on our second quarter earnings conference call on August 7, 2008.'

During the second quarter, the Company added three full service restaurants in Plymouth Meeting, Pennsylvania, Portland, Oregon and Chino Hills, California. In addition, the Company's international franchise partners WDI Corporation, Iris Co. Ltd. and Grupo Calpik, S.A. de C.V each added one full service restaurant in Tokyo, Japan, Seoul, Korea and Mexico City, Mexico, respectively.

Stock Repurchase Authorization

California Pizza Kitchen also announced today that its Board of Directors has authorized the repurchase of up to $50.0 million of common stock over the next two years. Such repurchases will be made from time to time in open market transactions and through privately negotiated transactions. Additionally, the repurchase program will operate under parameters established by the Board of Directors and as market conditions permit.

This authorization follows three similar repurchase programs authorized over the last four years. The Company recently completed its latest authorization on June 19, 2008. Since August 2004 the Company has repurchased 6,237,243 shares of common stock for total consideration of approximately $98.5 million, or an average of $15.78 per share.

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