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TurboChef Expands Commercial Customer Base; Reaches Agreement with Compass Group ATLANTA, Georgia, August 1, 2005 – TurboChef Technologies, Inc. (Nasdaq:OVEN) today announced that it has reached an agreement with Compass Group to be the preferred provider of speed cook ovens for over 1,400 Eurest Profiles 3 concepts throughout North America. The Eurest Profiles 3 are modular foodservice systems developed by the Compass Group to provide food service to the many business and industrial locations it serves. The TurboChef Tornado™ speed cook oven has been customized to solve the unique needs and demands of the Eurest Profiles 3 system where locations must have the ability to change menus daily, provide multiple cook-to-order meal options and satisfy customers’ appetite for quality hot food served quickly. “We are honored and delighted to partner with the world’s largest foodservice company - Compass Group,” said Richard E. Perlman, Chairman of the Board of TurboChef. “To work closely with market leaders like Compass Group to create unique speed cook solutions further validates our innovative products, our unsurpassed technology, and our company’s determination to grow strong partnerships with some of the world’s most respected brands and companies. We look forward to expanding our relationship with Compass beyond the Eurest concept.” Sir Francis Mackay, Chairman of Compass Group, added “After reviewing many potential solutions, we selected TurboChef as our partner because of the unique capabilities of their speed cook offerings and their proven track record for successfully delivering on sizable product rollouts. Our aim at Compass Group is to be the world’s most profitable and highest quality foodservice and hospitality group, and we’ll realize this goal through successful partnerships with companies such as TurboChef.” James K. Price, Chief Executive Officer of TurboChef, adds, “The Compass Group relationship is another step toward our goal of being the world leader in speed cooking. Our continued focus on customers’ unique cooking needs puts us in a strong position to penetrate traditional markets and expand into new markets. As more market leaders adopt the competitive advantages of our speed cooking solutions we continue to strengthen our foundation for growth now and well into the future.” About Compass Group About TurboChef 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 our 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 the Company’s products, the ability to obtain additional financing necessary to 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 the Company’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:
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