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T/R Systems Secures $2 Million Credit Facility from Silicon Valley Bank

Thursday, February 13, 2003

Press release from the issuing company

NORCROSS, Ga. & SANTA CLARA, Calif.--Feb. 12, 2003--T/R Systems, Inc. (TRSI), a leader in developing innovative solutions for the management and production of digital documents, and Silicon Valley Bank (SVB), a subsidiary of Silicon Valley Bancshares (SIVB), announced today that SVB extended a $2 million line of credit to T/R Systems. The credit facility will be used as additional working capital in support of T/R Systems' growth objectives. "Silicon Valley Bank's continued relationship with T/R Systems is a valued endorsement of our strategies and our financial strength," said Lyle Newkirk, Senior Vice President and Chief Financial Officer of T/R Systems. "Although we have no anticipated need, this credit facility gives us added flexibility for growth in a challenging economic environment." "It's exciting to work with a technology company like T/R Systems that is on the leading edge of its industry and is helping a variety of customers worldwide to alter the way they do business," said Alan Spurgin, senior vice president, Silicon Valley Bank. "Through our ongoing relationship with T/R Systems, we are able to provide financing of this nature in addition to our full range of banking products and services specifically tailored for up-and-coming as well as established technology companies."

 

 

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