TurboChef Wins Acclaim at Subway Conference
ATLANTA, Georgia, August 2, 2005 – TurboChef Technologies, Inc. (NASDAQ: OVEN) today announced that it has been recognized by Subway®, receiving two awards - the “President’s Award” and the “Vendor of the Year” award – at the Subway Conference held in Honolulu, Hawaii on July 22-24, 2005.
“The President’s Award recognizes an individual of a company whose involvement secures a strategic partnership to mutually move our business initiatives forward,” said Susanne Greco, Director of R&D. “This award is very distinguished, because there have only been a handful of President’s Awards handed out over the years. The President’s Award is given to a company president who has brought exceptional leadership qualities and strategic vision to our business. Richard Perlman is a very deserving individual who has brought financial strength, professionalism and a strategic plan to provide the foundation for a very successful rollout of the Subway toaster ovens.”
“On behalf of the entire company, I am honored and delighted to be the recipient of the President’s Award,” said Richard Perlman, Chairman of TurboChef. “There is no limit to what can be achieved when two great companies, filled with talented and dedicated people, come together and work toward a common goal. I applaud the herculean efforts made by my fellow TurboChef colleagues to successfully roll out the toasting initiative with our partners at Subway. Together with Subway, we have defined a new level of partnership resulting in a very successful toasting initiative, enhanced customer demand and revenue growth.”
TurboChef also won the “Vendor of the Year” award presented by Jan Risi, President and CEO of IPC, Subway franchisees’ purchasing cooperative. “Last spring, we presented TurboChef with a huge challenge – to build and distribute over 18,000 speed cook ovens to the Subway system in under 200 days,” comments Jan Risi. “Not only did they meet the challenge and our high expectations, they went the extra mile in product quality, oven performance, and an unrivaled level of service and support. These factors ensured a successful rollout and laid a firm foundation for expansion and capability for the future. When we asked all of our stakeholders within Subway to weigh in on the nomination of TurboChef, there was no discussion – it was unanimous. We feel that TurboChef looks at our business strategically and as a whole going above and beyond business as usual. TurboChef has quickly become one of our most valued and trusted partners. We appreciate their unwavering commitment to Subway and feel they are very worthy recipients of the Vendor of the Year award.”
As of July, 2005, TurboChef has delivered over 21,000 Tornado™ speed cook ovens to the Subway system in the U.S. and abroad.
About Subway
Subway Restaurants was founded in 1965 in Bridgeport, Conn. by then 17-year-old Fred DeLuca, with a $1,000 loan from family friend, Dr. Peter Buck. That partnership marked the beginning of a remarkable journey - one that made it possible for thousands of individuals to build and succeed in their own business. Today, Subway is the world's largest submarine sandwich franchise, with more than 23,800 locations in 84 countries. In 2002, the Subway chain surpassed McDonald’s in the number of restaurants open in the United States and Canada. For more information about Subway Restaurants see its Web site at www.subway.com.
About TurboChef
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 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 speeds faster 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.
For more information, contact:
Steve Beshara
Chief Branding Officer
TurboChef Technologies, Inc.
Six Concourse Parkway
Suite 1900
Atlanta, Georgia 30328
(678) 987-1700
Forward-Looking Statements
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.
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