Chipotle Mexican Grill (CMG)

Highlights for the nine months ended September 30, 2008 as compared to the prior year period include:

“By focusing on our long-term vision to change the way the world thinks about and eats fast food, we are continuing to perform well in a very challenging operating environment,” said Steve Ells, Chipotle Founder, Chairman and CEO. “We believe that serving better tasting food made with ingredients from more sustainable sources will strengthen our relationship with customers and help us continue to earn their business, especially in

these challenging times. During the quarter, we continued to make progress in our efforts to serve Food With Integrity, by significantly increasing the amount of produce from local farms served in our restaurants when in season.”

Monty Moran, President & COO added, “We are totally focused on creating an extraordinary dining experience through developing great managers and crew, so that we can continue to earn customers in this environment where everyone is careful about how they spend their money. In August, we held our first ever all managers’ conference to give managers the tools they need to develop great teams, and make our great dining experience even better.”

Highlights for the six months ended June 30, 2008 as compared to the prior year period include:

“In an operating environment that has been difficult for most restaurant companies, Chipotle delivered strong top and bottom line performance. We credit a continued focus on our vision of changing the way the world thinks about and eats fast food,” said Chipotle Founder, Chairman and CEO Steve Ells. “During the quarter, we reached an important milestone in our effort to serve all naturally raised meat in our restaurants, becoming the first restaurant company to serve 100% naturally raised chicken, in addition to already serving 100% naturally raised pork, and about 60% naturally raised beef. The care we take in selecting the finest ingredients we can find, and preparing great tasting food using classic cooking methods helps us provide an extraordinary dining experience and maintain exceptional loyalty among our customers.”

Monty Moran, President & COO added, “As the economic environment remains challenging, we believe more than ever that the strength of our restaurant managers and crew continue to be our most valuable asset. Our restaurant managers and crews are a vital part in providing a restaurant experience that is unique to Chipotle, and we continue to work hard to place our highest performers in the right positions. This commitment to hiring and developing the best crews in the industry helps us deepen the brand connection with our customers while also developing our future leaders. “