CHIPOTLE Mexican Grill Taipei (hereafter will be abbreviated as “CMGT”) plans to open in Fall 2012 and will be located in the Xinyi District of Taipei, Taiwan. CHIPOTLE Mexican Grill Taipei will seek to capitalize on the growing interest in Mexican food by introducing to Taipei a decent but affordable choice of Mexican Grill – CHIPOTLE (NYSE: CMG). As one the most successful Mexican fast food chain restaurants in the United States, CHIPOTLE currently has no stores in Taiwan. As with other CHIPOTLE stores in the United States, CHIPOTLE Mexican Grill Taipei will serve a short list of menu but long on options, and is dedicated to become the number one choice of Mexican fast food for residents, workers and visitors in the Xinyi District as well as the metropolitan Taipei. Under the Corporation Law of Taiwan, CHIPOTLE Mexican Grill Taipei will be a limited liability corporation owned by Buzz Chen and Hughes Chen and two private investors. Both Buzz and Hughes have long been interested in bringing the CHIPOTLE dinning experience, which they both enjoyed a lot when studying in the United States, to Taiwan. Buzz, who has previously studied and worked in the San Francisco Bay Area of the United States and Shanghai China, is a soon-to-be MBA graduate of NCCU Taipei. Hughes, on the other hand, received his PH.D. in marketing from the University of Maryland and has worked part-time as a business consultant on numerous projects. CHIPOTLE Mexican Grill Taipei will seek to lease a space approximately 25 pings (坪) in the Xinyi District of Taipei. The Xinyi District is so called the “Manhattan of Taipei” where a number of financial institutions of both foreign and local have established their Taipei headquarters in, hence is very heavy with people traffic especially during lunch and dinner hours. An initial amount of NTD 4.54 million will be required for start-up, where Buzz and Hughes will each contribute NTD 1.16 million, and the private investors will contribute NTD 1.11 million each.