PJPA, LLC
Pennsylvania
January 2006

PJPA is a Papa John’s Pizza franchisee serving Central and Eastern Pennsylvania. Bengur Bryan acted as financial advisor to PJPA in its acquisition of substantially all of the assets of PJ-Wil, LLC, the Papa John’s franchisee for the state of Delaware.

Papa John’s International is the third largest pizza company in America. As of December 31, 2004, Papa John’s had 2,829 restaurants (569 company-owned and 2,260 franchised) operating in 49 states and 10 international markets. Papa John’s also owns or operates an additional franchised 118 Perfect Pizza restaurants in the United Kingdom. Papa John’s is the recognized quality leader among national pizza companies and today remains committed to its heritage of making a superior-quality, traditional pizza.