TRM Corporation Announces Pricing of Follow-on Offering of Common Stock

Portland, Oregon: 27 August 2004 -- TRM Corporation (NASDAQ: "TRMM") announced today that it has priced a follow-on offering of 4,500,000 shares of its common stock at a price of $11.00 per share. The offering, consisting entirely of common shares to be sold by the company, is expected to close on 1 September 2004. TRM has granted the underwriters an option to purchase up to an additional 675,000 shares of common stock to cover over-allotment options, if any.

The offering was lead-managed by Friedman, Billings, Ramsey & Co., Inc., and co-managed by Piper Jaffray & Co. Copies of the final prospectus relating to the offering may be obtained by contacting Friedman, Billings, Ramsey & Co., Inc., 1001 19th Street North, Arlington, Virginia, 22209, Attn: Prospectus Department, Telephone No. (703) 469-1023.

TRM Corporation is a consumer services company that provides convenience ATM and photocopying services in high-traffic retail environments. TRM's customer base has grown to over 20,000 retailers throughout the United States and 25,000 locations world wide, including over 5,000 locations across the United Kingdom.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities, nor shall there be any sale of the securities in any state in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

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 the company's services; access to capital; maintaining satisfactory relationships with the company's banking partners; technological change; the ability of the company to control costs and expenses; competition and the company's ability to successfully implement its planned growth. Additional information on these factors, which could affect the company's financial results, is included in its Securities and Exchange Commission filings. Finally, there may be other factors not mentioned above or included in the company's 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. The company assumes 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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