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Hot doughnuts and cool new frozen blended beverages

Cool off this summer with four new frozen blends from krispy kreme.

July 20, 2004

WINSTON-SALEM, N.C., July 21 /PRNewswire-FirstCall/-- Krispy Kreme Doughnuts, Inc. (NYSE: KKD) is introducing a new line of frozen blended beverages, each one carefully crafted with the same dedication and commitment to quality and taste that goes into the Company's signature doughnuts and coffees. The four new, signature frozen blended beverages include:· FROZEN ORIGINAL KREME- The signature flavor of our Original Glazed doughnut captured in a creamy frozen blend. Add coffee for another great-tasting variety.· RASPBERRY- The taste will remind you of sweet vanilla ice cream topped with fresh raspberries.·LATTE- Unmistakable espresso flavor - icy and creamy.·DOUBLE CHOCOLATE- Rich and creamy enough to satisfy any chocolate lovers craving. Add coffee for a tasty mocha. "The launch of our new frozen blended beverages is part of our ongoing effort to align our coffee and beverage offerings with our brand image and further elevate our customers' experience," states Scott Livengood, President and CEO of Krispy Kreme. "Just as we did with our new signature coffees, our team took great care in developing four new, great-tasting frozen blended beverages, designed to offer customers an even greater variety of choices and taste experiences. We feel our expanded beverage offerings will provide tremendous growth opportunity for both the company and the Krispy Kreme brand."About Krispy KremeFounded 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 more than 380 stores in 44 U.S. states, Canada, Mexico, Australia and the United Kingdom. Krispy Kreme can be found on the online at http://www.krispykreme.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.source:Krispy Kreme Doughnuts, Inc.Web Site:http://www.krispykreme.com