OvenWorks to Make Distribution of Shares to Its Partners

ATLANTA, GA, August 9, 2005 – TurboChef Technologies, Inc. (NASDAQ: OVEN) today announced that it was informed by its largest stockholder, OvenWorks, LLLP (“OvenWorks”), that OvenWorks is making a partial distribution of its shares of the Company’s common stock to its limited partners, the majority of whom are officers and directors of the Company. The distribution will require the officers and directors as well as the Company to make various regulatory filings, including the filing by the Company of a supplement to its Form S-3 resale registration statement that became effective in September 2004. The Company has been advised that neither its officers and directors receiving shares in this distribution nor OvenWorks have any current intention to sell Company shares.

About TurboChef Technologies, Inc.
TurboChef Technologies, Inc. is a leading provider of equipment, technology and services focused on the high-speed preparation of food products for the worldwide commercial primary cooking equipment market and is developing equipment for the residential markets through the application of its high-speed cooking technologies. TurboChef’s user-friendly speed cook ovens employ proprietary combinations of heating technologies to cook a variety of food products at faster speeds than, and to quality standards that it believes are comparable or superior to, that of conventional heating methods. The address of TurboChef’s principal executive offices is Six Concourse Parkway, Suite 1900, Atlanta, GA 30328. Visit TurboChef at www.turbochef.com.

Certain statements in this release, and other written or oral statements made by or on behalf of TurboChef, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements regarding future events and developments and TurboChef’s future performance, as well as management’s expectations, beliefs, plans, guidance, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. These forward-looking statements are subject to a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the following: the uncertainty of market acceptance and demand for TurboChef’s products, the ability to obtain additional financing necessary to continue or expand operations, the uncertainty of consumer acceptance of new products or technologies that may be offered by TurboChef, the dependence on a limited number of customers, relationships with and dependence on third-party equipment manufacturers and suppliers, impact of competitive products and pricing and other risks detailed in TurboChef’s filings with the Securities and Exchange Commission. The words “looking forward,” “believe,” “expect,” “likely,” “should” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only for the date the statement was made. TurboChef Technologies, Inc. undertakes no obligation to publicly update any forward-looking statements, whether as a result of future events, new information or otherwise.

For more information, contact:

Dennis J. Stockwell
Vice President and General Counsel
TurboChef Technologies, Inc.
Six Concourse Parkway
Suite1900
Atlanta, Georgia 30328
(678) 987-1700

> download a PDF of this press release

> back to Press Releases