Jamba, Inc. Completes $35 Million Convertible Preferred Stock Sale

EMERYVILLE, Calif.--(Business Wire)--
Jamba, Inc. (NASDAQ:JMBA; NASDAQ:JMBAU; NASDAQ:JMBAW) today announced that it
has completed its previously announced sale of $35.0 million in convertible
preferred stock. The convertible preferred stock becomes redeemable by Jamba,
Inc. at the election of the purchasers in June 2016 unless converted earlier and
includes an 8% annual dividend. The preferred stock is convertible into common
shares at a price of $1.15 per share.

The funding was led by a $19.55 million investment by Mistral Equity Partners, a
private equity fund focused on consumer products and services companies, with
the remaining $15.45 million investment made by a company controlled by the
Serruya family, a successful entrepreneurial Canadian-based family.

"We are pleased to have completed this financing, which will be used to repay
our senior term note and provide us greater financial flexibility to execute our
BLEND plan," said James D. White, President and Chief Executive Officer of
Jamba, Inc. "With the closing of this transaction we also have the added benefit
of three additional members joining our Board whom we believe will contribute
tremendously to the Company`s success."

Effective upon the closing of the transaction, Andrew R. Heyer, Beth L. Bronner,
and Michael Serruya joined the Board of Directors.

Andrew R. Heyer

Mr. Heyer is the Chief Executive Officer and a Managing Director of Mistral
Equity Partners. Mr. Heyer currently serves on the Board of Directors of The
Hain Celestial Group, Inc., Shearer's Foods, Inc., and El Pollo Loco, Inc. He
was previously Vice Chairman of CIBC World Markets and a founding partner of
Trimaran Capital Partners. Mr. Heyer`s background and previous board experiences
with nationally recognized brands will be a valuable asset as the Company
continues to transform and grow the Jamba brand.

Beth L. Bronner

Ms. Bronner is a Managing Director of Mistral Equity Partners. Ms. Bronner
currently serves on the Board of Directors for Assurant, Inc. and The Hain
Celestial Group, Inc. She also serves on the boards of several not-for-profit
organizations. Ms. Bronner is a senior business leader with an outstanding track
record delivering strong, profitable revenue and market share growth for marquee
brands including Jim Beam, Revlon, Nabisco, AT&T, Häagen-Dazs, and Citibank. She
has also demonstrated success in change management, business turnarounds,
organization restructuring, and high-performance team building. Ms. Bronner
brings a breadth of experience in building strong brands and exceptional
organizational development expertise which will serve Jamba well in the
achievement of its long-term objectives.

Michael Serruya

Michael Serruya co-founded CoolBrands International Inc. in 1986 and has been
its Chief Executive Officer and President since November 17, 2006. He serves as
Chairman of CoolBrands International Inc. and as Chairman of Yogen Früz World
Wide Incorporated. Mr. Serruya brings a keen understanding of franchise
development and business management, both of which are areas of central
importance to Jamba`s strategic plan.

Details of the transaction can be found in the Company`s current report on Form
8-K filed with the Securities and Exchange Commission on June 3, 2009 and the
Form 8-K to be filed in connection with the closing of the transaction.

About Jamba, Inc.

Jamba, Inc. (Nasdaq: JMBA) (Nasdaq: JMBAU) (Nasdaq: JMBAW) is a holding company
and through its wholly-owned subsidiary, Jamba Juice Company, owns and
franchises JAMBA JUICE stores. Founded in 1990, Jamba Juice is a leading
restaurant retailer of healthy lifestyle food and beverage offerings, including
great tasting fruit smoothies, juices, teas, hot oatmeal made with organic,
steel cut oats, and baked goods. As of April 21, 2009, JAMBA JUICE had 732
locations consisting of 499 company-owned and operated stores and 233 franchise
stores. For the nearest location or a complete menu, visit the JAMBA JUICE
website at www.jambajuice.com or call 1-866-4R-FRUIT.

Forward-looking Statements

This press release (including information incorporated or deemed incorporated by
reference herein) contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
are those involving future events and future results that are based on current
expectations, estimates, forecasts, and projects as well as the current beliefs
and assumptions of our management. Words such as "outlook", "believes",
"expects", "appears", "may", "will", "should", "anticipates", or the negative
thereof or comparable terminology, are intended to identify such forward looking
statements. Any statement that is not a historical fact, including estimates,
projections, future trends and the outcome of events that have not yet occurred,
is a forward-looking statement. Forward-looking statements are only predictions
and are subject to risks, uncertainties and assumptions that are difficult to
predict. Therefore actual results may differ materially and adversely from those
expressed in any forward-looking statements. Factors that might cause or
contribute to such differences include, but are not limited to, those discussed
under the section entitled "Risk Factors" in our reports filed with the SEC.
Many of such factors relate to events and circumstances that are beyond our
control. You should not place undue reliance on forward-looking statements. The
Company does not assume any obligation to update the information contained in
this press release.

Jamba, Inc.
Don Duffy, 203-682-8200
investors@jambajuice.com

Copyright Business Wire 2009