TransAct renews credit facility

WALLINGFORD, Connecticut – (PRESS RELEASE) -- TransAct Technologies Incorporated (Nasdaq: TACT), a leading producer of transaction-based printers for customers worldwide, announced today that it has renewed its credit facility with TD Banknorth. The new five-year agreement increases the available credit from $11.5 million to $20 million. TransAct currently has no outstanding borrowings under the credit facility.

Steven A. DeMartino, Executive Vice President and Chief Financial Officer of TransAct Technologies, said, "We are pleased to renew our credit facility with TD Banknorth. Over the past three years, TD Banknorth has proven to be a solid banking partner and we look forward to working with them over the next five years. Our new $20 million credit facility has much improved terms, including a lower interest rate, which we were able to secure based on our strong financial performance and the strength of our balance sheet. The new credit facility provides the Company with greater financial flexibility and with additional financial capacity to execute our growth strategy."