Peet's Coffee & Tea, Inc. Appoints Tom Cawley Chief Financial Officer

EMERYVILLE, Calif.--(BUSINESS WIRE)--June 30, 2003--Peet's Coffee & Tea, Inc. (Nasdaq:PEET), a specialty coffee roaster and marketer of fresh whole bean coffee and hand-selected teas, today announced the appointment of Tom Cawley to chief financial officer, effective July 21, 2003. Cawley brings to the position more than 21 years of strategic financial planning and management experience, with extensive knowledge and financial leadership in both foodservice retail and consumer packaged goods environments -- a strong match with Peet's multiple channel distribution model. Cawley will replace former chief financial officer, Mark Rudolph, who accepted a new position at the privately-held Boudin Bakery & Cafe in San Francisco.

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