TRM Announces Agreement to Sell US Photocopier Business to Skyview Capital

PORTLAND, Ore., Dec. 13 /PRNewswire-FirstCall/ -- TRM Corporation (Nasdaq: TRMM - News ) announced today that it has entered into a definitive agreement to sell its US Photocopier business to TRM Copy Centers, LLC, a limited liability company formed by Skyview Capital, LLC, a privately held investment firm. The purchase price is $9.2 million, subject to certain customary adjustments. Closing is expected to occur in January 2007. TRM and the purchaser have also entered into a Facilities Maintenance Agreement and Transition Services Agreement which provide for certain services to be provided by and for TRM during a transition period that is expected to be between 45 and 180 days. Over 100 employees will be transferred with the sale of the Photocopier business. Upon the sale of the US Photocopier business, TRM's ongoing operations in the US will focus exclusively on the ATM business.

The net proceeds from this sale will be utilized to pay down debt obligations.

TRM also announced today that Danial Tierney, TRM's Executive Vice President who has been running TRM's global copier operations, will be leaving the Company at the end of the year to pursue other opportunities.

"The sale of the US Photocopier business is a significant part of our effort to simplify our business operations and to meet our immediate debt obligations. We continue to evaluate other potential strategic opportunities on a global basis," says Jeff Brotman, TRM President and Chief Executive Officer.

"Additionally, I want to thank Dan Tierney for his long and devoted service to TRM and offer him best wishes for tremendous success in all of his future endeavors," said Brotman.

Alex Soltani, Chairman and Chief Executive Officer of Skyview Capital, stated, "We are very pleased to add TRM's US Photocopier business to our portfolio of operating companies. The company has created a unique niche, as it has been the clear market leader in its respective arena for more than 25 years. As this company maintains long-term relationships with national retailers, we are excited about the opportunity to expand upon its current footprint. Furthermore, the company's management is strong and well experienced, and we are confident that they will be able to successfully operate this business on a standalone basis."

TRM was advised by Allen & Company LLC with respect to the transaction.

About TRM Corporation

TRM Corporation is a global consumer services company that primarily provides convenience ATM services in high-traffic consumer environments. TRM's ATM customer base is widespread, with retailers throughout the United States and with an extensive network of ATMs worldwide. TRM operates the second largest non-bank ATM network in the United States and the United Kingdom, as well as ATM locations in Germany.

About Skyview Capital

Skyview Capital, LLC ( www.skyviewcapital.com ), a private investment firm headquartered in Beverly Hills, Calif., specializes in the acquisition and continuous management of "systems - critical" enterprises in the areas of technology, telecommunications, business services, and niche manufacturing. By leveraging its operational capabilities and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires.

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.