Calculate 1. return on equity 2. price per share 3. shares repurchased

Exhibit 9 CALIFORNIA PIZZA KITCHEN Pro Forma Tax Shield Effect of Recapitalization Scenarios (Dollars in thousands, except share data; figures based on end of June 2007) Debt/Total Capital 10% 20% Actual 30% 6.16% Interest rate (1) Tax rate 6.16% 32.5% 6.16% 32.5% 6.16% 32.5% 32.5% 30,054 30,054 30,054 Earnings before income taxes and interest Interest expense Earnings before taxes Income taxes Net income 0 30,054 9,755 20,299 1,391 28,663 9,303 19,359 2,783 27,271 8,852 18,419 30,054 4,174 25,880 8,400 17.480 Book value: Debt Equity Total capital 0 225,888 225,888 22,589 203,299 225,888 45,178 180,710 225,888 67,766 158,122 225,888 Market value: Debt(3) 0 22,589 45,178 67,766 Equity(4) Market value of capital 643,773 643,773 628,516 651,105 613,259 658,437 598.002 665,769 Exhibit 9 CALIFORNIA PIZZA KITCHEN Pro Forma Tax Shield Effect of Recapitalization Scenarios (Dollars in thousands, except share data; figures based on end of June 2007) Debt/Total Capital 10% 20% Actual 30% 6.16% Interest rate (1) Tax rate 6.16% 32.5% 6.16% 32.5% 6.16% 32.5% 32.5% 30,054 30,054 30,054 Earnings before income taxes and interest Interest expense Earnings before taxes Income taxes Net income 0 30,054 9,755 20,299 1,391 28,663 9,303 19,359 2,783 27,271 8,852 18,419 30,054 4,174 25,880 8,400 17.480 Book value: Debt Equity Total capital 0 225,888 225,888 22,589 203,299 225,888 45,178 180,710 225,888 67,766 158,122 225,888 Market value: Debt(3) 0 22,589 45,178 67,766 Equity(4) Market value of capital 643,773 643,773 628,516 651,105 613,259 658,437 598.002 665,769