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Aug. 27, 2007

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• Press Conference Announcing Gift (Monday, Aug. 27, 2007)

LOUISVILLE, Ky. -- The University of Louisville announced today that Louisville-based Papa John's, and its founder John Schnatter and wife Annette, have committed $10 million toward the expansion of Papa John's Cardinal Stadium, the home for the Cardinals' football program. It is the largest single gift ever made to U of L Athletics, and brings the total support of the University by Papa John's and the Schnatters over the last ten years to more than $20 million.

"We are overwhelmed by the generosity of John, Annette and Papa John's," said Tom Jurich, U of L Vice President and Director of Athletics. "Just as John, Annette and Papa John's provided the lead gift for the original construction of this fabulous stadium, this landmark gift keeps the expansion moving forward and provides us with great momentum."

Plans are underway to expand Papa John's Cardinal Stadium, named when the Schnatters and Papa John's made the lead gift toward construction in 1996, from its current 42,000-seat configuration to about 63,000. The pledge announced today will be funded $6 million by the Schnatters and $4 million by Papa John's, both paid over 10 years beginning in 2008.

"This community has been so supportive of me and Papa John's from day one," said Schnatter. "This is our hometown, its where we both grew up and its where we are raising our family. Annette and I are honored and humbled to be able to give something back."

The Cardinals' football program has been on a meteoric rise since moving to Papa John's Cardinal Stadium in 1998. Nine straight bowl games since moving into the facility and national top ten finishes in two of the last three years have led the Cardinals to a season ticket sellouts the past two seasons with a substantial waiting list. U of L has a current 18-game home winning streak, the second-longest in the nation.

"We have been extremely pleased with our partnership with U of L, and are delighted to support the stadium expansion," commented Nigel Travis, Papa John's president and CEO. "Through this project, we want attending U of L football games to be more than just seeing the action that's happening on the field. We want it to become an experience, with an atmosphere that matches those seen at other top programs throughout the country."

Headquartered in Louisville, Papa John's is the world's third largest pizza company with more than 3,100 restaurants in the U.S. and 29 international markets. For eight years running (1999 - 2007), consumers have rated Papa John's #1 in customer satisfaction among pizza chains in the highly regarded American Customer Satisfaction Index (ACSI). For more information about the company or to order pizza online, visit Papa John's at www.papajohns.com.

Special loge seating and suites in the new structure are currently being sold and additional gifts are still being sought to complete in the $65 million project.While increasing the seating capacity by about 21,000, the expansion will include 45 new luxury suites, a new south terrace, unique loge section and additional reserved seating. The new East side loge section will provide 2,000 seats with both outside seating and inside amenities. The six-row section is adjacent to a glass-enclosed lounge area with a private entrance, concessions, and restrooms under an overhang with fans and heaters to provide a comfortable climate.

Also included are 45 new luxury suites, which feature 18 outside seats plus accommodations for 8-12 persons inside. Information on obtaining seats in the loge and suite levels is available through the Cardinal Athletic Fund at 502-852-5735, by checking www.UofLsports.com or by logging on to www.PapaJohnsCardinalStadiumExpansion.com.