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Tastykake, PNC Bank and Allegheny West Foundation Partner to Launch a New Tastykake Thrift Outlet Store New Tastykake Thrift Outlet will offer summer employment to local high school students involved in the Allegheny West and Philadelphia Youth Network Work-Readiness Program. PHILADELPHIA, July 25 /PRNewswire/ -- Tastykake, PNC Bank and Allegheny West Foundation, are partnering to take a bite out of youth unemployment this summer by opening the Tastykake Thrift Outlet Store on August 1, 2005. Local high school students involved in the Allegheny West Foundation Work-Readiness Program will be hired to work in the store, where they will learn how to operate a business as they sell some of Tastykake's most popular products including Butterscotch Krimpets, Chocolate Cupcakes and Kandykakes in single-serve and Family Pack varieties. The products will be offered at discounted costs and all profits will be used to help fund the Allegheny West Foundation. The initiative was made possible by PNC, which donated the building - a former bank branch valued at $280,000 to the Allegheny West Foundation. PNC is also donating $75,000 to the Foundation. PNC and the Foundation enjoy a long-standing partnership aimed at revitalizing the Hunting Park section of Philadelphia. PNC community consultants provide homeownership counseling to the community and provide technical support to the non-profit, while the Bank sponsors Allegheny West's summer intern program for Philadelphia-area youth. "At PNC we are firmly committed to the neighborhoods where we do business and to the education of youth in the region," said J. William Mills, III, President, PNC Bank Philadelphia and Southern New Jersey. "We are proud that our partnership with Allegheny West will provide job opportunities for deserving young people and a new retail presence in the neighborhood." "Tasty Baking Company has a long-standing relationship with the local community. This partnership with Allegheny West Foundation and PNC Bank provides another opportunity for Tastykake to be on the forefront of an initiative that will have a positive and immediate impact in this area of the city," said Charles P. Pizzi, President and CEO of Tasty Baking Company. "We are pleased that we can contribute to such a worthwhile endeavor." The mission of the Allegheny West Foundation is to improve the quality of life within Allegheny West, the residential neighborhood south of Tasty Baking Company. The programs focus on comprehensive community building, including increasing the supply of affordable housing, encouraging business development, and strengthening the social fabric of the community by addressing problems ranging from health care to education. The Foundation also works to promote civic engagement of area residents through local leadership development, and to improve the quality of youth education through work-based learning opportunities such as the Work-Readiness Program. Tasty Baking Company, (NYSE:TBC), founded in 1914 and headquartered in Philadelphia, Pennsylvania, is one of the country's leading bakers of snack cakes, pies, cookies, and donuts with manufacturing facilities in Philadelphia and Oxford, Pennsylvania. Tasty Baking Company offers more than 100 products under the Tastykake brand name. For more information on Tasty Baking Company, visit http://www.tastykake.com/. In addition, consumers can send Tastykake products throughout the United States from the company website or by calling 1-800-33-TASTY. "Safe Harbor Statement" Under the Private Securities Litigation Reform Act of 1995 Except for historical information contained herein, the matters discussed herein are forward-looking statements (as such term is defined in the Securities Act of 1933, as amended) that are subject to risks and uncertainties that could cause actual results to differ materially. There are a number of factors that may cause actual results to differ from these forward-looking statements, including the success of marketing and sales strategies and new product development, the price of raw materials, and general economic and business conditions. Other risks and uncertainties that may materially affect the company are provided in the company's annual reports to shareholders and the company's periodic reports filed with the Securities and Exchange Commission from time to time, including reports on Forms 10-K and 10-Q. Please refer to these documents for a more thorough description of these and other risk factors. DATASOURCE: Tasty Baking Company CONTACT: Omoiye Kinney, Tasty Baking Company, +1-215-221-8527 or +1-267-767-2823 - cell; or Beverly Volpe, Simon Public Relations Group, Inc., +1-215-545-4715 x24, for Tasty Baking Company Web site: http://www.tastykake.com/

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