TRC Announces Acquisition of the Payne Firm, Inc.

LOWELL, MA--(Marketwire - Aug 31, 2011) - TRC Companies, Inc. (NYSE: TRR) today announced that it has acquired the Payne Firm, Inc. ("Payne"). Payne is a privately held environmental consulting firm that provides full life-cycle services to the legal and financial communities and industries ranging from manufacturing and healthcare to higher education. Payne's net service revenue for calendar year 2010 was approximately $4.7 million. The acquisition is expected to be immediately accretive. Financial terms of the transaction, which included a mixture of cash and common stock, were not disclosed.

Headquartered in Cincinnati -- with offices in Chicago, Cleveland and Troy, New York -- Payne works with a wide variety of clients from emerging businesses to Fortune 500 companies throughout North America and internationally. Payne's staff of 30 consulting professionals represents the full spectrum of technical disciplines, including environmental, civil and chemical engineering; geology and hydrogeology; chemistry; risk assessment; asbestos and lead investigation and abatement; and industrial hygiene and safety. Payne is a member of the Inogen Environmental Alliance, a global network of 165 member offices in six continents with over 4,800 professionals worldwide.

"The acquisition of Payne enhances TRC's position in the private equity transactions market and legal sector," said Chairman and Chief Executive Officer Chris Vincze. "We believe this market represents an attractive growth opportunity for TRC as companies are now reinvesting capital with more consistency and pursuing acquisitions for growth. In addition, Payne's consulting services will complement our Exit Strategy^® and Environmental services through cross-selling opportunities and the potential to pursue larger projects Payne traditionally had to turn away. From a geographic perspective, the addition of Payne expands our North American footprint and strengthens our presence in the Midwest. Overall, Payne has an outstanding reputation in the markets it serves, and we welcome their talented staff of professionals to TRC."

John L. Payne, Founder and Principal of Payne, said, "TRC is a leader in the environmental industry with a well-earned and well-established reputation. The depth of their environmental consulting offerings and customer focused philosophy made the firm an ideal fit for Payne's clients and employees. We believe our cultures are closely aligned and the combination of TRC and Payne will create opportunities for significant growth. We look forward to joining the TRC team and benefiting from operating as part of a larger company with a national footprint."

Vincze concluded, "The acquisition of Payne continues to further our growth strategy, which strikes a balance between strategically investing in organic growth and acquisitions to drive profitability."

About TRC
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, consulting and construction management firm that provides integrated services to the energy, environmental and infrastructure markets. TRC serves a broad range of clients in government and industry, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information, visit TRC's website at www.TRCsolutions.com.

Forward-Looking Statements
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