J & J Snack Foods Purchases 400,000 Shares

PENNSAUKEN, N.J.--(BUSINESS WIRE)--J & J Snack Foods Corp. (NASDAQ:JJSF) anounced today that it has purchased 400,000 shares of its common stock from Gerald B. Shreiber, its Chairman, President and Chief Executive Officer, on Monday, November 17 at a purchase price of $27.90 per share, and has subsequently retired the shares. The purchase price which was a 6% discount to the market was determined by the Board of Directors after the close of the market on Thursday, November 13 at which time J & J’s last sale price was $29.70 per share.

The purchase was done under a million share repurchase program announced by the Company in February 2008. Including this purchase, the Company has purchased and retired 549,433 shares under the program. After this transaction, Mr. Shreiber owns approximately 3.9 million of the Company's 18.4 million outstanding shares.

Gerald B. Shreiber commented, "Although I have always been reluctant to sell my personal holdings of J & J common stock, I have sold 400,000 shares for estate and tax planning purposes. The sale is in no way a reflection of my thoughts about the Company or its future, either over the short or long term. I still own 3.9 million shares, or approximately 21% of the outstanding shares of J & J. The Board of Directors of J & J Snack Foods, without my vote or presence, felt it appropriate for the Company to purchase the shares under the Company's previously announced buyback program on its own merits.”

J & J Snack Foods Corp.’s principal products include SUPERPRETZEL, PRETZEL FILLERS and other soft pretzels, ICEE, SLUSH PUPPIE and ARCTIC BLAST frozen beverages, LUIGI’S, MAMA TISH’S, SHAPE UPS, MINUTE MAID* and BARQ’S** frozen juice bars and ices, WHOLE FRUIT sorbet, FRUIT-A-FREEZE frozen fruit bars, MARY B’S biscuits and dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S churros, THE FUNNEL CAKE FACTORY funnel cakes, and MRS. GOODCOOKIE, CAMDEN CREEK, COUNTRY HOME and READI-BAKE cookies. J & J has manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New Jersey; Scranton, Hatfield and Chambersburg, Pennsylvania; Carrollton, Texas; Atlanta, Georgia; Moscow Mills, Missouri; Pensacola, Florida and Vernon and Newport, California.

*MINUTE MAID is a registered trademark of The Coca-Cola Company.

**BARQ’S is a registered trademark of Barq’s Inc.