TRM Renews and Expands Relationships with Leading Hospitality Companies in the United Kingdom
Portland, Oregon: September 5, 2006 -- TRM Corporation (Nasdaq: TRMM) announced today that two key accounts, Mitchell's and Butler and Whitbread Plc, have agreed to extend the terms of their current ATM contracts with TRM (ATM) Limited (“TRM”). In addition, TRM recently won the ATM supply contract for Mitchell's and Butler's Hollywood Bowl estate, comprised of 25 large, premier, ten-pin bowling sites in the United Kingdom.
Mitchell's and Butler
Mitchell's and Butler, leading operators of approximately 2,200 managed pubs and pub restaurants in the United Kingdom, have agreed to extend the term of their current TRM contract for an additional 3 years. TRM operates approximately 171 ATMs at Mitchell's and Butler sites across key brands such as O'Neil's and Scream as well as various High Street bars, venues and local pubs.
Mitchell's and Butler's Hollywood Bowl estate is recognized as the most successful ten-pin bowling venues in the United Kingdom and has sites located throughout England, Wales and Scotland. As part of the new supply agreement, TRM will begin installing machines from November 2006 over an approximately 12 month period.
John Appleton, Director of Electronic Leisure for Mitchell's and Butler, stated, “During our relationship with TRM, they have demonstrated their commitment to superior customer service. This, coupled with commercial agreements that are beneficial to both our companies, was an important factor in our decision to award them the supply contract for the Hollywood Bowl venues.”
Mitchell's and Butler recently purchased 239 prime location sites from Whitbread, a number of which are already supplied by TRM, presenting the potential to supply other locations as Mitchell's and Butler develops these high quality sites.
Whitbread Plc
On July 21, 2006, Whitbread extended their current agreement with TRM, their sole supplier of ATM cash machines, for another 3 Year term. The agreement encompasses the entire Whitbread Portfolio including key brands such as Beefeater Restaurants, Brewers Fayre Restaurants and Premier Travel Inns Hotels.
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 30,000 retailers throughout the United States and over 38,200 ATM and copier units worldwide, including 3,800 ATMs across the United Kingdom and over 4,200 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 approximately 17,900 ATM locations throughout the United States, Canada, Great Britain, Northern Ireland and Germany.
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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