Press Release Details

For Immediate Release                                                                           Toronto Stock Exchange: BPF.UN

Boston Pizza International Announces Annual Results

VANCOUVER, BC, (January 20, 2003) - Boston Pizza International Inc. ("BPI") reported today the financial results for the period September 1, 2001 through August 31, 2002. A copy of the financial statements, with management discussion and analysis, is available at www.sedar.com.

Boston Pizza continues to be Canada’s number one casual dining brand. System franchise sales grew from $225 million in fiscal 2001 to $261 million for the 12-month period ending August 31, 2002, an increase of 15%. "Although last year was one of the toughest faced by the food-service industry, we are very proud of our growth. This is evident by the fact that we opened 14 locations with no closures," said Mike Cordoba, President and Chief Operating Officer of Boston Pizza International. The total number of Boston Pizza restaurants open in Canada as of August 31, 2002 was 162. Boston Pizza restaurants posted a 4.4% same store sales growth rate for fiscal 2002, exceeding industry figures.

BPI continues to operate the Boston Pizza franchise system, develop new Boston Pizza restaurants in Canada, and has emerged as one of Canada’s leading restaurant companies. The organization continues to grow based on its "Three Pillars of Success": a commitment to franchisee profitability, a commitment to the growth and development of the Boston Pizza brand, and a commitment to the constant improvement of the guest experience.

FOR FURTHER INFORMATION PLEASE CONTACT:
Robert Groom
Director, Investor Relations
Tel: 604-270-1108