Peet's Coffee & Tea, Inc. Supports Global Nonprofits and Domestic Charities with its Annual Fundraising Programs
Peet's to Feature New Coffee Sampler that Benefits Global Education Partnership
EMERYVILLE, Calif. - November 13, 2002 - Peet's Coffee & Tea, Inc. (Nasdaq: PEET), a specialty coffee roaster and marketer, is proud to announce three philanthropic initiatives that are projected to raise more than $100,000 this holiday season. As part of the company's ongoing efforts to give back to local communities and support global causes important to its customers and suppliers, Peet's will introduce the new Global Education Partnership (G.E.P.) Coffee Sampler, where a portion of the proceeds will be donated to G.E.P., in addition to continuing its annual Holiday Grants for Global Organizations and its store-based Holiday Tips Donation programs.
"Each year we look forward to our most meaningful holiday tradition, our annual fund-raising effort, that supports our communities both locally and globally," said Patrick O'Dea, president and chief executive officer, Peet's Coffee & Tea, Inc. "These programs are driven by our core values, to be ethically, socially and environmentally responsible, so that we can set an example and make a positive, lasting impact in all we do."
G.E.P. Coffee Sampler
Peet's is proud to support G.E.P. in its efforts to create educational and sustainable resource development programs that help thousands of youths in international markets such as Kenya, Tanzania, Guatemala and Indonesia, and locally in the San Francisco Bay Area. These programs help communities and individuals gain access to needed resources including textbooks, computer training and start-up grants for their own small businesses.
This new sampler pack features three half-pound, drip-grind packages of various coffees that represent regions of the world where G.E.P. implements its projects including:
Aged Indonesia -- complex and woodsy, with a lingering finish
Guatemala -- aromatic, lively, overtones of chocolate
Kenya -- mellow and sublime
Available exclusively online at www.peets.com or by calling 1.800.999.2132, this Peet's Sampler is priced at $19.50. For every pack sold between November 1, 2002, to December 31, 2002, Peet's will be making a $3 donation to G.E.P.
Holiday Grants for Global Organizations
Throughout the year, Peet's extends its contributions beyond the neighborhoods where its stores are located, in an effort to help improve conditions for coffee-growing families and other communities in developing countries. This holiday season, Peet's will be awarding grants to two important nonprofit groups, Coffee Kids and TechnoServe, which serve coffee-growing communities worldwide.
Holiday Tips Donation
Established in 1986, Peet's Holiday Tips Donation program is an important part of Peet's tradition, bringing together the company, its staff and customers in a combined effort. On December 24, 2002, Peet's will offer free brewed coffee and tea in all of its stores, and Peet's employees will donate tips received on that day to a local nonprofit organization chosen by that store's staff. Additionally, Peet's will match the tips that employees receive (up to $1,000 per store).
Below is a sampling of some of the worthwhile organizations that have been chosen to receive proceeds this year:
| Northern California: |
Center for Independent Living, Rape Trauma Services, The Therapeutic Nursery School, Adopt-a-Family, Haight-Ashbury Free Clinic, Contra Costa Humane Society, Oakland Children's Hospital Foundation, Mt. Diablo Habitat for Humanity, River Street Shelter, San Jose Neighbors That Care, Project Open Hand, Stand Against Domestic Violence, Homeward Bound of Marin, San Francisco Independent Living Resource Center
|
| Southern California: |
Pasadena Humane Society, Mama's Kitchen, SPCA, Arthritis Foundation of Santa Barbara, Southern California Special Olympics, Women's Care Cottage, Make-a-Wish Foundation |
| Portland, Oregon: |
Our House, Project Education Art Recreation, Portland Rescue Mission |
| Greater Boston Area: |
Second Step, Pine Street Inn, Women's Lunch Place |
| Greater Chicago Area: |
Evanston Battered Woman's Shelter, CASA |
About Peet's Coffee & Tea, Inc.
Founded in Berkeley, Calif., in 1966, Peet's Coffee & Tea, Inc. is a specialty coffee roaster and marketer of fresh, deep-roasted whole bean coffee for home and office enjoyment. Peet's fresh-roasted coffee, hand-selected tea and related items are sold in several distribution channels including specialty grocery and gourmet food stores, online and mail order, office and restaurant accounts and 62 company-owned stores in four states. Peet's is committed to strategically growing its business and to maintaining a unique culture and focus on customer satisfaction. For information about Peet's Coffee & Tea, Inc., visit www.peets.com or call 1-800-999-2132. Peet's Coffee & Tea, Inc. shares are traded under the symbol PEET.
About Global Education Partnership
Global Education Partnership (G.E.P.) is a non-profit 501( c)(3) organization with divisions in the United States (Oakland, California), Kenya, Guatemala, Tanzania and Indonesia. The mission of Global Education Partnership is to provide access to educational resources that increase the capacity of young people to become employable and self-reliant in today's global marketplace.
G.E.P.'s programs are based on the philosophy that sustainable development - where people can access and then re-create opportunities to both excel personally and improve their communities - is only possible if the people that ultimately benefit from a program are viewed not as recipients of the program, but as participants in designing and implementing a program to suit their needs. For more information, visit Global Education Partnership's Web site at www.geponline.org, or call 202-347-0130.
About Coffee Kids
Coffee Kids is an international non-profit organization established to improve the quality of life for children and families who live in coffee-growing communities around the world. Coffee Kids believes that programs must be community-based and founded on the principles of sustainability. This means that each program is structured so that new economic dependencies will not be created and so that each program can flourish independent of outside support. Because every coffee-growing community is unique, every Coffee-Kids program is unique. What is common is an attitude of respect: respect for all people's values, cultural integrity, intelligence, and ingenuity. Coffee Kids currently works in four countries: Mexico, Guatemala, Nicaragua, and Costa Rica. Several thousand families in over a hundred communities benefit from Coffee Kids' programs. For more information, visit Coffee Kids' Web site at www.coffeekids.org, or call 1-800-334-9099.
About TechnoServe
Founded in 1968 and based in the United States, TechnoServe helps entrepreneurial men and women in poor areas of the developing world to build profitable businesses that create income, opportunity and economic growth. TechnoServe's mission is based on the premise that economic development is a critical precursor to social development, because social infrastructure like schools and health clinics, cannot be maintained without resources, which are generated over the long term from profitable businesses. TechnoServe is currently assisting coffee growers in Nicaragua, Peru and Tanzania and also works in El Salvador, Ghana, Honduras, Kenya, Mozambique, South Africa and Uganda. For more information, visit TechnoServe's web site at www.technoserve.org, or call 800-999-6757.
This press release contains statements that are not based on historical fact and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, the Company's expectations regarding store openings and availability of locations for sites in 2002 are "forward-looking statements." Because of the uncertainties inherent in these forward-looking statements, the Company's actual results could differ materially from those set forth in forward-looking statements. Actual future store openings depend on a variety of factors including but not limited to the completion of the development projects where the planned stores are to be located, the availability of high quality retail inventory for additional store locations, the Company's ability to identify appropriate locations for future stores and to obtain leases for such stores on satisfactory terms, and the Company's operations and financial results in general. Actual results and trends may differ materially depending on a variety of factors including but not limited to, its ability to implement its business strategy, attract and retain customers, and obtain and expand its market presence in new geographic regions, the availability and cost of high quality Arabica coffee beans, consumers tastes and preferences, and competition in our market as well as other risk factors as described more fully in the Company's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 30, 2001.
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