Centerbridge Partners Commences $51.50 Per Share Cash Tender Offer for All Outstanding Shares of P.F. Chang's China Bistro

In connection with the previously announced merger agreement entered into to acquire P.F. Chang's China Bistro, Inc.

, P.F. Chang's today announced that Wok Parent LLC, Wok Holdings Inc. and Wok Acquisition Corp.have commenced a cash tender offer to acquire all of the outstanding shares of P.F. Chang's common stock. Upon the successful closing of the tender offer, stockholders of P.F. Chang's who tendered their shares in the tender offer will receive $51.50 per share in cash, without interest and less any required withholding taxes. Parent and Purchaser are newly formed entities and are wholly owned by funds advised by Centerbridge Partners, L.P., a leading private investment firm.