TRM Completes Debt Refinancing

Portland, Oregon: June 6, 2006 -- TRM Corporation (NASDAQ: "TRMM") announced today that it has completed the refinancing of its principal indebtedness. The new loan facility is in a total amount of $105 Million. Its terms include a six-year maturity period and a blended interest rate of approximately 5.25% over the London Interbank Offer Rate (LIBOR). Wells Fargo Foothill, part of Wells Fargo & Company (NYSE: WFC), was the administrative agent and certain funds managed by GSO Capital Partners LP were the majority lenders.

With today's announcement, TRM is no longer in forbearance of any debt or in violation of any debt covenants. Except for required principal payments due within one year, the term loan portion of the new facility will be reclassified as long term debt, which will be reflected on the Company's balance sheet at June 30, 2006. The required annual principal payments due under the loan facility will be approximately $6.4 million less than the requirements under the Company's existing loans. Specifically, the Company's total required annual debt service payments will decline to $9.8 million from roughly $16.2 million, at current interest rates.

"We are very pleased to have restructured our indebtedness in a way that improves our operational flexibility. This is an important step in the right direction and we are delighted to be able to focus entirely on the business opportunities we see," said Jeff Brotman, TRM President and Chief Executive Officer.

About TRM

TRM Corporation is a consumer services company that provides convenience ATM and photocopying services in high-traffic consumer environments. TRM's ATM and copier customer base consists of over 31,200 retailers throughout the United States and over 39,300 units worldwide, including 3,800 ATM units across the United Kingdom and over 4,300 ATM and copier units in Canada. TRM has the second largest non-bank ATM network in both the United States and in the United Kingdom, and its network has a total of 18,300 ATM locations throughout the United States, Canada, Great Britain, Northern Ireland and Germany. For more than 25 years the TRM global service organization has supported businesses of all sizes, making them one of the most experienced and trusted names in the industry.

About Wells Fargo Foothill

Wells Fargo Foothill is a leading provider of senior secured financing to middle-market companies across the United States and Canada, offering flexible, innovative credit facilities from $10 million to $750 million and more. It is part of Wells Fargo & Company, a diversified financial services company with $492 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,200 stores and the Internet (www.wellsfargo.com). Wells Fargo Bank, N.A. is the only "Aaa" credit-rated bank in the United States. For more information, visit Wells Fargo Foothill on the Internet at www.wffoothill.com.

FORWARD LOOKING STATEMENTS

Statements made in this news release that are not historical facts are forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, such as consumer demand for our services; access to capital; maintaining satisfactory relationships with our banking partners; technological change; our ability to control costs and expenses; competition and our ability to successfully implement our planned growth. Additional information on these factors, which could affect our financial results, is included in our SEC filings. Finally, there may be other factors not mentioned above or included in our SEC filings that could cause actual results to differ materially from those contained in any forward-looking statement. Undue reliance should not be placed on any forward-looking statement, which reflects management's analysis only as of the date of the statement. We assume no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.

 

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