PRESS RELEASES

March, 2006 - Mississauga, ON.

EXTREME SUCCESS
Mark & Alex Rechichi Expand Extreme Pita's Fast-Food Empire

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In 1997, when just starting out in the pita sandwich business in Toronto, Rechichi brothers Mark, BCom'94, and Alex, ArtSci'96, were so consumed with work, they often slept on cots in the shops back room after their evening "shift." That way, the budding entrepreneurs could get a few hours sleep before starting all over again the next morning, The strategy wasn't without its flaws: "I think we lost a few girlfriends because of it," Mark says with a laugh.

Those early days, of short-term pain eventually led to long-term gain, as the brothers decided it was safe to go into their little enterprise full-time and the business grew to become Extreme Pita, a chain of corporate owned and franchised restaurants that occupy the niche between fast-food and healthy fare restaurants. Under Alex's leadership as President and Mark's role as Chief Financial Officer, the company now boasts more than 130 locations across Canada and the US and is poised to expand into the UK and Australia.

Risk-taking and hard work are nothing new to the brothers, who come from a long line of entrepreneurs. During their undergraduate days, the pair spent summers operating several small businesses from an interlocking brick company to a landscaping business, in order to finance their education. Both must also be fearless, witness their positioning of the company to square off directly against Subway and Quizno's, with their stores often opening next door to these corporate juggernauts. Some of their managers have been lured away from the sub companies. As Mark explains, "People see in us what we saw in Subway 30 years ago, and they want to get involved because they see the passion we have in our company and with our people."

The brothers attribute the company's phenomenal growth to several factors, not the least of which is the product itself - a meal that their slogan promises is healthy, fresh and fast. While their restaurants are similar in look and design to fast-food outlets, they offer their customers the convenience of fast healthy food while avoiding expenses and delays associated with table service.

Another contributing factor to the company's success is its "area development strategy," which eschews a centralized head office in favor of regional offices, four in Canada and nine in the US. According to Mark, each region "is managed by someone who understands that market very well, is available to answer franchisees' questions, and can cultivate relationships with local real estate agents" to identify further, locations.

Finally, the brother acknowledge that timing has played a key role in Extreme Pita's growth, as Canadians are increasingly embracing the notion of healthier eating.

"Healthy eating is becoming more of an issue for more people in all age ranges," Mark explains. "When Alex and I were at Queen's, we had fond memories of eating at Lino's and enjoying their famous poutine. Today's university students probably still experience the Frosh Fifteen (alleged weight gain), and indulge in the occasional pig-out, but many of them want to feel good about what they eat since students today are aware and interested in healthy eating. We are in many university markets and haven't expanded into Kingston yet, but I'm now thinking there would be a market there for us!"

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