SEATTLE – December 8, 2003 – Krispy Kreme Doughnuts, Inc. (NYSE: KKD) will unveil the countdown sign for its newest Washington state location and new KremeWorks USA, LLC headquarters at 10 a.m. on Tuesday, Dec. 9, 2003. The store will be located in the SODO neighborhood in Seattle, at the southeast corner of First Avenue South and South Holgate Street. Krispy Kreme SODO is scheduled to open in March 2004.

Krispy Kreme SODO is operated by Seattle-based KremeWorks USA, LLC, the exclusive area developer for Krispy Kreme in Washington, Oregon, Alaska and Hawaii. KremeWorks USA, LLC is a division of ICON LLC.

“We are excited to bring the Krispy Kreme experience to the downtown Seattle area. The Northwest has been incredibly supportive of us, since we opened our first Washington location in 2001, and we felt that the SODO community was the appropriate place to base KremeWorks,” stated Gerard Centioli, president and CEO of KremeWorks USA, LLC.
Like other Krispy Kreme stores across the nation, the SODO store will feature the traditional “Hot Doughnuts Now” sign. When illuminated, the red neon sign announces to customers that Krispy Kreme is making batches of its fresh, Hot Original Glazed doughnuts.

The two-story 12,000 sq. ft. SODO location will feature a Krispy Kreme factory store on the first floor and the KremeWorks USA, LLC Store Support Center on the second floor. The Krispy Kreme store will offer ample guest seating and a 24-hour drive-thru.

Krispy Kreme stores operated by KremeWorks USA, LLC are currently located in Issaquah at 6210 E. Lake Sammamish Pkwy.; Spokane at 15401 E. Indiana Ave.; Burlington at 711 Haggen Drive; North Seattle at 12505 Aurora Ave. N.; Tacoma at 4302 Tacoma Mall Blvd.; and Puyallup at 3610 S. Meridian St. The Vancouver, Wash., store at 8517 NE Andresen Road is scheduled to open in January 2004. KremeWorks USA, LLC also operates stores in Beaverton, Ore., at 16415 NW Cornell Road and in Clackamas, Ore., at 9950 SE 82nd Avenue.

Krispy Kreme offers a signature coffee line that features four drip coffees—Smooth, Rich, Bold and Robust Decaf—all made from high-quality coffee beans and roasted by Krispy Kreme’s own Roastmaster to exact specifications. Krispy Kreme's beverage program also includes a line of espresso drinks and milks prepared with a variety of proprietary flavors. Among these flavors is “Original Kreme,” which duplicates the flavor and aroma of Krispy Kreme’s signature Hot Original Glazed doughnuts.

Krispy Kreme also offers 15 varieties of doughnuts, including the best-selling Original Glazed and several others that are iced, glazed and filled with fruit or cream. To assure quality and consistency, Krispy Kreme produces its own proprietary doughnut mix and manufactures its own proprietary doughnut-making equipment.

Founded in 1937 in Winston-Salem, North Carolina, Krispy Kreme is a leading branded specialty retailer of premium quality doughnuts, including the Company’s signature Hot Original Glazed. Krispy Kreme currently operates over 330 stores in 42 states, Canada, the UK, and Australia. An estimated 7.5 million Krispy Kreme doughnuts are made every day and more than 2.7 billion are produced each year. Krispy Kreme can be found on the World Wide Web at www.krispykreme.com.

Media contacts:
Jason Hamilton / Erick Armes
Richmond Public Relations
Office: (206) 682-6979 / Cell: (206) 595-2593
jasonh@richmondpr.com / ericka@richmondpr.com

Information contained in this press release, other than historical information, may be considered forward-looking in nature and is subject to various risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on Krispy Kreme's operating results, performance or financial condition are its dependence on franchisees to execute its store expansion strategy, supply issues, competition and numerous other factors discussed in Krispy Kreme's periodic reports, proxy statement and other information statements filed with the Securities and Exchange Commission.