TRC Selected for $14 Million Superfund Site Exit Strategy -R- Contract

Business Wire, August 5, 2002

Business/Technology Editors

WINDSOR, Conn.--(BUSINESS WIRE)--Aug. 5, 2002

TRC Companies, Inc. (TRC) (NYSE:TRR) announced today that it has been selected by a group of industrial customers for the clean up of the Mattiace Petrochemical Superfund site located in Glen Cove, New York. The total value of the contract is expected to be $14 Million.

Under the terms of the Exit Strategy contract, TRC will take full statutory responsibility for environmental remediation of the former Mattiace Petrochemical site and provide on-going operations, maintenance and monitoring. TRC and its industrial customers are in the process of completing their agreement with the Environmental Protection Agency (EPA) and the State of New York and plan to submit a consent decree to the federal district court for approval.

"TRC's Exit Strategy Program provides the best solution for our customers, the EPA and the State for the cleanup of this location," said Mike Salmon, TRC's Senior Vice President responsible for its Exit Strategy program. "Like our other Exit Strategy multi-party sites, everyone realizes significant economic and public policy benefits. With TRC taking full responsibility for the site, our customers avoid further costs of the Superfund process and the challenges posed by the long-term site management obligations. In the same vein, the government avoids incessant litigation, while cleaning up and closing the site with private party funds, allowing them to preserve scarce Superfund monies for other site clean ups."

For this project, TRC has partnered with AIG Environmental, a member company of American International Group, to provide comprehensive environmental insurance that protects the project from potential cost overruns or liabilities from new government requirements and site changes while also satisfying the EPA's financial assurance requirements. The Willis Group is TRC's insurance broker on this project.

TRC's innovative Exit Strategy program is a liability and risk transfer mechanism that allows corporate and public entities to outsource their environmental compliance obligations. With several major projects completed and over forty others under way, TRC is leading the industry with financial solutions that turn environmental liabilities into corporate and community opportunities. Typical applications of the Exit Strategy program include:

-- Facilitating mergers, acquisitions and divestitures, including property sales, that might not otherwise occur because neither the buyer nor the seller wishes to be responsible for past environmental issues;

-- Assuming responsibility for multi-party "Superfund" sites where the differing interests of a large number of parties result in legal and administrative costs that significantly increase the project cost beyond the actual cost of cleanup;

-- Relieving customers of the burden of maintaining environmental compliance support to closed or sold facilities; and

-- Developing "brownfields" real estate sites after resolving environmental issues that have a significant impact on property market value.

TRC is a customer-focused company that creates and implements sophisticated and innovative solutions to the challenges facing America's environmental, infrastructure, power, and transportation markets. The company is the leading provider of technical, financial risk management and construction services to both industry and government clients across the country.

TRC provides technical, financial risk management and construction services to industry and government, primarily in the United States market. The Company's main focus is in the areas of infrastructure improvements and expansions, environmental management and power development and conservation.

For more information, contact Mike Salmon at (949) 727-7756 or, visit the Company's website at www.trcsolutions.com.

With the exception of the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, regulatory uncertainty, funding for government projects, level of demand for the Company's services, product acceptance, industry-wide competitive factors, and political, economic, or other conditions. Furthermore, market trends are subject to changes, which could adversely affect future results.