Bert Vivian Joins Rick Federico as Co-CEO of P.F. Chang's

'Bert and I have always worked as partners, in every sense of what that word means,' said Mr. Federico. 'Having Bert assume a co-CEO role is merely an institutional recognition of that relationship, while, at the same time, allowing us to allocate CEO-level responsibilities in a way that we think plays to our respective strengths.'

Mr. Federico will be directly responsible for the operations of the Company's two restaurant brands, P.F. Chang's China Bistro and Pei Wei Asian Diner, as well as the Marketing and People Services teams. Mr. Vivian will assume responsibility for the remaining support teams including Finance, Legal, Development, Supply Chain Management and Management Information Systems. In addition, Mr. Vivian will be added to the Company's Board of Directors.

'Rick and I have worked together for the better part of our professional careers,' said Mr. Vivian. 'We are both extremely dedicated to the success of our brands, as well as providing a meaningful return to our stockholders, employees and other stakeholders. I look forward to continuing to work with Rick, the rest of our talented management team and our Board, as we navigate these challenging times and help P.F. Chang's achieve its full potential.'

Mr. Vivian has served as President of the Company since December 2000. Prior to December 2000, Mr. Vivian served as Chief Financial Officer for the Company since joining P.F. Chang's China Bistro, Inc. in 1996.

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