Press Release: TurboChef Technologies, Inc.
August 10, 2001
DALLAS, TX -- TurboChef Technologies, Inc (Nasdaq: TRBO) yesterday announced the expansion of its pilot tests with
Express by Holiday Inn, beyond the initial operations in the UK, to include hotel locations in both Dortmund and
Frankfurt, Germany. Each of these locations is scheduled to open in November of 2001.
Dennis Kane, Executive Chef for Holiday Inn franchises stated, ``The TurboChef has been a complete godsend within
our section of business, especially in the high employment areas such as Heathrow Airport, where it is difficult
to find quality chefs in large numbers. TurboChef has been second to none in labor savings, cooking versatility
and food quality. In my experience as a chef, I have never seen its equal. As a franchise company to the Holiday
Inn chain of hotels, our new hotels and purchases from our Crowne Plaza through to Express by Holiday Inns will
be specified with a TurboChef. We currently have three TurboChef's within our Express estate and one in our Heathrow
Airport Holiday Inn, with more to come.''
``Express by Holiday Inn uses the TurboChef C3 countertop oven to provide meal offerings in locations that previously
did not have food service. By providing food service the hotel can now attract commerce from new clientele, as
well as additional business from guests who are already staying at the hotel, which should significantly increase
the hotels bottom line,'' said Mark Mirken, Chief Operating Office of TurboChef. ``Additionally, the TurboChef
C3 oven allows for food service operations in an environment that is completely ventless. This is due to the patent
protected catalytic converter in the oven. This feature enables hotels to substantially reduce capital expenditures
on any property opened throughout the world,'' Mirken Continued.
``Express by Holiday Inn represents a large opportunity in small and medium sized hotel properties which can charge
higher room rates because they now offer food service, and enhanced customer satisfaction and loyalty by providing
a high quality alternative to leaving the premises in order to eat. By offering this with low wage labor, minimal
set-up costs, and nominal operator training, TurboChef provides a system that is easy for the hotel to install
and operate. In many of these locations in which foodservice is an amenity that operates at a loss, TurboChef is
the best alternative for cost containment. This system provides the ability to operate diverse concepts including
bistro, pizza, western, all day breakfast and guest room service with ease,'' according to Jeffrey Bogatin, Chairman
and CEO of TurboChef.
TurboChef has recently announced similar market initiatives in the hospitality sector with Starwood Hotels &
Resorts, HMSHost in its airport concessions, British Petroleum in its gas station convenience stores, and Compass
Group in their Little Chef chain of roadside restaurants. By using the proprietary applications of the TurboChef
cooking system, significant opportunities have been developed in each of these markets.
About TurboChef Technologies, Inc.
TurboChef is a leader in kitchen technology. Its proprietary rapid-cook platform cooks faster than a microwave
and produces results superior to a conventional oven. Its existing commercial technology cooks food seven to eight
times faster than a conventional oven, needs no ventilation, reduces labor costs, increases menu flexibility and
reduces equipment costs as well. The Next Generation residential technology makes it possible to cook a complete
dinner to restaurant quality standards that would ordinarily take 70 minutes in a conventional oven in as little
as 10 minutes.
The owner of nine patents, and fifty patents pending, including patents regarding cooking technology and Internet
business processes; TurboChef is focused on creating shareholder value by enhancing the restaurateur's bottom line
and the consumers' quality of life.
About Six Continents PLC (formerly Bass PLC)
Six Continents is a leading global hospitality group, operating over 3,200 hotels across nearly 100 countries and
over 2,000 restaurants and bars in the UK and Germany.
Six Continents Hotels is the world's leading global hotel group whose brands include Inter-Continental Hotels and
Resorts, Crowne Plaza Hotels and Resorts, Holiday Inn, Express by Holiday Inn and Staybridge Suites. It owns, operates
or franchises more than 3,200 hotels and over 500,000 guest rooms in nearly 100 countries around the world.
Six Continents Retail is the UK's leading managed restaurant, pubs and bars group with over 2,000 outlets including
brands such as Vintage Inns, Harvester, Toby, Browns, All Bar One, It's A Scream, O'Neill's, Edwards, Ember Inns
and Goose.
Safe Harbor Statement under Private Securities Litigation Reform Act of 1995 for TurboChef: Certain statements
contained in this Press Release constitute ``forward looking statements'' within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward looking statements involve a number of known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such factors include, but are not limited to the Company's limited operating history, uncertainty of market acceptance
and demand, likelihood of establishing additional alliances, probability of success of an Internet strategy, raising
the necessary capital to fund an Internet based strategy, 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'' and similar expressions identify forward looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak only as for the date the statement
was made. TurboChef Technologies, Inc. undertakes no obligation to update any forward-looking statements contained
in this news release.
SOURCE: TurboChef Technologies, Inc.