-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NapRTgjv7MoWJahwm6hJfshYOmuZPYA5OS6ZSaJVfY0WgQlV3L4iYmjuLhR4QWLZ
 yNnTPs9sYIFMkNec8Xhpeg==

<SEC-DOCUMENT>0000950123-09-054929.txt : 20091029
<SEC-HEADER>0000950123-09-054929.hdr.sgml : 20091029
<ACCEPTANCE-DATETIME>20091029170958
ACCESSION NUMBER:		0000950123-09-054929
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20091026
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20091029
DATE AS OF CHANGE:		20091029

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSCAT INC
		CENTRAL INDEX KEY:			0000099302
		STANDARD INDUSTRIAL CLASSIFICATION:	INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]
		IRS NUMBER:				160874418
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0327

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-03905
		FILM NUMBER:		091145307

	BUSINESS ADDRESS:	
		STREET 1:		35 VANTAGE POINT DRIVE
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14624
		BUSINESS PHONE:		5853527777

	MAIL ADDRESS:	
		STREET 1:		35 VANTAGE POINT DRIVE
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14624

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRANSMATION INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>l37875e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="70%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top" nowrap>Date of Report (Date of earliest event reported)
</TD>
    <TD>&nbsp;</TD>

<TD align="center" valign="top" nowrap><font style="font-size: 12pt"><B>October&nbsp;26,
2009</B></font></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Transcat, Inc.</B>
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 0pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>Ohio</B></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>000-03905</B></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>16-0874418</B></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Identification No.)</TD>
</TR>

<TR STYLE="FONT-SIZE: 10PT"><TD>&nbsp;</TD></TR>

<TR valign="bottom">
    <TD align="center" valign="top" colspan="3"><FONT style="font-size:12pt"><B>35 Vantage Point Drive, Rochester, New York</B></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-size:12pt"><B>14624</B></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" colspan="3" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top" colspan="3">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="70%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top" nowrap>Registrant&#146;s telephone number, including area code
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap><B><font style="font-size: 12pt">585-352-7777</font></B></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 24pt">
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 0pt">(Former name or former address, if changed since last report)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">Item&nbsp;2.02 Results of Operations and Financial Condition</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">Item. 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">Item&nbsp;9.01 Financial Statements and Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="l37875exv3w1.htm">EX-3.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="l37875exv99w1.htm">EX-99.1</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>






<!-- link1 "Item&nbsp;2.02 Results of Operations and Financial Condition" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2.02 Results of Operations and Financial Condition.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October&nbsp;26, 2009, Transcat, Inc. (the &#147;Company&#148;) issued a press release regarding its
financial results for its fiscal year 2010 second quarter and six months ended June&nbsp;27, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The press release is attached as Exhibit&nbsp;99.1 to this Form 8-K.
</DIV>
<!-- link1 "Item. 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Item. 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the 2008
annual meeting, the Company&#146;s shareholders approved an amendment to the
Company&#146;s Code of Regulations to allow the board of directors to amend certain provisions of the
Code of Regulations without shareholder approval.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October&nbsp;26, 2009, the board of directors amended the following provisions of the Code of
Regulations:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;I &#150; Meetings of Shareholders
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;2. <U>Special Meetings</U> was amended to provide that the
Chief Executive Officer may also call a special meeting rather than the
President.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;4. <U>Notice of Meetings</U> was amended to provide for
alternative methods of notice delivery.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;5. <U>Quorum</U> was amended to provide that a resolution
adopted to adjourn a meeting fix a date and place for such adjourned
meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;6. <U>Proxies</U> was amended to provide for alternative
methods for delivery of proxies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;II &#150; Board of Directors
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;6. <U>Special Meetings</U> was amended to provide that, in
addition to any two other directors, the Chief Executive Officer or the
Chairman of the Board rather than the President may call a special
meeting; to delete the reference to Assistant Secretary; and to provide
for alternative methods of notice delivery.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;7. <U>Quorum</U> (re-titled <U>Quorum and Action</U>) was
amended to provide that the act of a majority of the directors present
at a meeting at which a quorum is present is the act of the board.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;8. <U>Fees</U> (re-titled <U>Compensation</U>) was amended to
provide that the board of directors may delegate authority to
establish director compensation to a committee of the board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;III &#150; Executive and Other Committees
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;1. <U>How Constituted and the Powers Thereof</U> was amended to
delete the reference to affixing the corporate seal to papers that may
require it.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;3. <U>Meetings</U> was amended to provide for alternative
methods of notice delivery.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;7. <U>Other Committees</U> was amended to
eliminate the
provision that other standing or special committees consist of not
less than three directors.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;IV &#150; Offices and Officers
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;1. <U>Officers &#150; Number</U> (re-titled <U>Officers</U>) was
amended to also provide for the election of a Chief Executive Officer
and a Chief Financial Officer; to delete specific references to Vice
President, Controller, Assistant Secretaries and Assistant Treasurers (all of which have been amended as described below);
and to provide signatory limitations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;2. <U>Election and Term of Office</U> was amended to change the
timing of elections from annually to such time as the board may
determine.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;V &#150; Duties of Officers
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;2. <U>President</U> (re-titled <U>Chief Executive Officer</U>)
was amended to assign these responsibilities to the Chief Executive
Officer rather than the President.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;3. <U>Vice Presidents</U> (re-titled <U>President</U>) was
amended to assign these responsibilities to the President, under the direction of the Chief Executive Officer, rather than a Vice President.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">A new Section&nbsp;4. entitled <U>Chief Operating Officer</U> was added.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">A new Section&nbsp;5. entitled  <U>Chief Financial Officer</U> was added.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;4. <U>Secretary</U> was amended to provide that,
in addition to
the board, the Chief Executive Officer rather than the President may
prescribe the duties of this office.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;5.
<U>Assistant Secretaries</U> (re-titled <U>Assistant Secretary</U>) was amended to provide that, in
addition to the board, the Chief Executive Officer rather than the
President may prescribe the duties of this office.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;6. <U>Treasurer</U> was amended to provide that, in addition to
the board, the Chief Executive Officer rather than the President may
prescribe the duties of this office.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;7.
<U>Assistant Treasurers</U> (re-titled <U>Assistant Treasurer</U>) was amended to provide that, in
addition to the board, the Chief Executive Officer rather than the
President may prescribe the duties of this office.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;8. <U>Controller</U> was deleted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VII &#150; Interdealing was deleted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VIII &#150; Checks, Drafts, Etc. was deleted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;IX
 &#150; Certificates for Shares
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Section&nbsp;4. <U>Addresses for Shareholders</U> was amended to delete the
reference that, as a default, notice may be addressed to a shareholder
at the office of the company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;X &#150; Seal was deleted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to the amendments described above, the Code of
Regulations was also amended to make certain other non-substantive changes and
related formatting changes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The amendments are effective as of October&nbsp;26, 2009.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>



<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The preceding description of the amendments is qualified in its entirety by reference to the
full text of the Company&#146;s Code of Regulations, as amended, which are attached as Exhibit&nbsp;3.1 to
this Current Report on Form 8-K and are incorporated herein by reference.
</DIV>
<!-- link1 "Item&nbsp;9.01 Financial Statements and Exhibits" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<I>Exhibits</I>.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Code of Regulations, as amended</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transcat, Inc. Press Release dated October&nbsp;26, 2009</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt">SIGNATURES

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>TRANSCAT, INC.</B>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR STYLE="FONT-SIZE: 18PT"><TD>&nbsp;</TD></TR>
<TR>
    <TD align="left">Dated:  October&nbsp;29, 2009&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ John J. Zimmer
&nbsp;</TD>

</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">John J. Zimmer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" nowrap>Vice President of Finance and Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>l37875exv3w1.htm
<DESCRIPTION>EX-3.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv3w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><b>Exhibit&nbsp;3.1</b>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>CODE OF REGULATIONS</B></U><BR>
<U><B>OF</B></U><BR>
<U><B>TRANSCAT, INC.</B></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">(with
all amendments through October&nbsp;26, 2009)

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE I<BR>
MEETINGS OF SHAREHOLDERS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Annual Meeting</U>. The annual meeting of shareholders shall be held on such
day and at such hour as may be designated by the Board of Directors and specified in the Notice of
Meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Special Meetings</U>. Special meetings of the shareholders for any purpose or
purposes may be called by the Chief Executive Officer or by order of the Board of Directors and it
shall be the duty of the Secretary to call such a meeting upon a request in writing therefor
stating the purpose or purposes thereof delivered to the Secretary signed by the holders of record
of not less than twenty-five percent (25%) of the shares outstanding and entitled to vote.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Place of Meetings</U>. Meetings of the shareholders may be held at such place
within or without the State of Ohio, as the Board of Directors may determine.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Notice of Meetings</U>. Written notice of each annual or special meeting
stating the time, place and purposes thereof shall be given by personal delivery or by mail,
overnight delivery service, or any other means of communication authorized by the shareholder to
whom the notice is given, to each shareholder of record entitled to notice of the meeting, not less
than ten (10)&nbsp;nor more than sixty (60)&nbsp;days before any such meeting. If mailed or sent by
overnight delivery service, the notice shall be sent to the shareholder at the shareholder&#146;s
address as it appears on the records of the Corporation. If sent by another means of communication
authorized by the shareholder, the notice shall be sent to the address furnished by the shareholder
for those transmissions. Any shareholder, either before or after any meeting, may waive any notice
required to be given by law or under these Regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Quorum</U>. At all meetings of shareholders the holders of record of a
majority of the issued and outstanding voting shares of the Corporation, present in person or by
proxy, shall constitute a quorum for the transaction of business. In the absence of a quorum, the
holders of a majority of the voting shares present or represented may adjourn the meeting by
resolution to a date and place fixed therein, and no further notice thereof shall be required. At
any such adjourned meeting at which a quorum may be present, any business may be transacted which
might have been transacted at the meeting as originally called.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Proxies</U>. Any shareholder entitled to vote at a meeting of shareholders may
be represented and vote thereat by proxy or proxies appointed by an instrument in writing signed
by the shareholder or by a verifiable communication authorized by the shareholder (e.g. electronic
mail, facsimile or other transmission) and submitted to the Secretary at or before such meeting.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE II<BR>
BOARD OF DIRECTORS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Number</U>. The number of directors shall be not less than three (3)&nbsp;nor more
than twelve (12)&nbsp;as may be fixed, from time to time, by resolution duly adopted by a majority of
the shares which are represented at any annual meeting or special meeting called for that purpose
provided a quorum is present. No reduction in the number of directors shall have the effect of
removing any director prior to the expiration of his term of office.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Election and Classification</U>. The election of directors shall be held at
the annual meeting of the shareholders or at a special meeting called for that purpose. The
directors shall be classified with respect to the terms for which they shall hold office by
dividing them into three classes, each consisting of one-third of the whole number of the Board of
Directors, or, if such number shall not be a multiple of three, then such division shall be as
nearly equal as the total number of directors will permit. The term of office of the first class
shall expire at the first annual meeting of the Corporation subsequent to their election, the term
of office of the second class shall expire at the second annual meeting subsequent to their
election, and the term of office of the third class shall expire at the third annual meeting
subsequent to their election. At the first annual meeting at which directors are classified, each
person shall be nominated as a director to the first, second or third class and no person shall be
nominated as a candidate for more than one class. At each annual meeting after the election of the
classified Board, directors shall be elected for a term of three years to replace those whose terms
expire. If, at any time the number of directors is increased or decreased, the increase or
decrease shall be apportioned among the classes as to make all classes as nearly equal in number as
possible. In the event of a decrease, one or more directors shall be reclassified by vote of a
majority of the Board if such action is required to balance the classes of directors, even though
this may have the effect of shortening the term of office to which such director was elected by the
shareholders. Any vacancy created in the Board of Directors may be filled by the majority vote of
the remaining directors. Any person so elected to fill a vacancy shall serve for the unexpired
term of that director whose vacancy is being filled.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Removal</U>. All of the directors of a particular class, or any individual
director may be removed from office without assigning any cause, by the vote of the holders of
seventy-five percent (75%) of the outstanding shares entitled to vote thereon at any meeting of
shareholders called for that purpose. In case of any such removal, a new director may be elected
at the same meeting for the unexpired term of each director removed. Failure to elect a director
to fill the unexpired term of any director removed shall be deemed to create a vacancy in the
Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Place of Meetings</U>. The Board of Directors shall hold its meetings at such
places within or without the State of Ohio as it may determine.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Regular Meetings</U>. The Board of Directors by resolution may establish
regular periodic meetings and notice of such meetings need not be given.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Special Meetings</U>. Special meetings of the Board of Directors shall be
called by the Secretary whenever ordered by the Board of Directors or
requested in writing by the Chief Executive Officer, the Chairman of the Board or any two other directors. Such
meetings shall
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">be held at the principal office of the Corporation except as otherwise specified in
the notice. Notice of each special meeting shall be mailed to each director, addressed to the
director&#146;s residence or usual place of business, at least two (2)&nbsp;days before the day on which the
meeting is to be held, or shall be sent to such address by personal delivery or any other means of
communication authorized by the director (e.g. electronic mail, facsimile or other transmission)
not later than one (1)&nbsp;day before the day on which the meeting is to be held.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Quorum and Action</U>. A majority of the members of the Board of Directors
then in office shall constitute a quorum at all meetings of the Board. In the absence of a quorum, a majority of the members present may adjourn the meeting until a quorum is present, and no
notice of any such adjournment need be given. The act of a majority of the directors present at a
meeting at which a quorum is present is the act of the Board.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8. <U> Compensation</U>. The Board of Directors may, irrespective of any financial
or personal interest of any of them, establish reasonable compensation for services to the
Corporation by directors (including annual retainers and meeting attendance fees) and officers.
The Board of Directors may delegate this authority to a committee of the Board. The Board of
Directors may also reimburse directors for travel and other expenses incidental to their attendance
at Board and committee meetings.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE III<BR>
EXECUTIVE AND OTHER COMMITTEES</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>How Constituted and the Powers Thereof</U>. The Board of Directors by the vote
of a majority of the full Board, may designate three or more directors to constitute an Executive
Committee, who shall serve at the pleasure of the Board of Directors. Except as otherwise provided
by law, by these Regulations or by resolution adopted by a majority of the full Board of
Directors, the Executive Committee shall possess and may exercise during the intervals between the
meetings of the Board, all of the powers of the Board of Directors in the management of the
business, affairs and property of the Corporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Organization, etc.</U> The Executive Committee shall choose its own Chairman
and its Secretary and may adopt rules for its procedure. The Committee shall keep a record of its
acts and proceedings and report the same to the Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Meetings</U>. Meetings of the Executive Committee may be called by the
Chairman of the Committee and shall be called by the Chairman at the request of any member of the
Committee, or such meetings may be called by any member if there shall be no Chairman. Notice of
each meeting of the Committee shall be sent to each member of the Committee by mail at least two
(2)&nbsp;days before the day on which the meeting is to be held, or shall be given personally or by any
other means of communication (e.g. electronic mail, facsimile or other transmission) no later than
one (1)&nbsp;day before the day on which the meeting is to be held. Notice of any meeting may be waived
before or after the meeting.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Quorum and Action</U>. A majority of the Executive Committee shall constitute
a quorum for the transaction of business, and the act of a majority of those present at the meeting
at which a quorum is present shall be the act of the Executive Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Removal</U>. Any member of the Executive Committee may be removed, with or
without cause, at any time, by the Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Vacancies</U>. Any vacancy in the Executive Committee shall be filled by the
Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Other Committees</U>. The Board of Directors may by resolution provide for
such other standing or special committees as it deems desirable, and discontinue the same at its
pleasure. Each Committee shall have such powers and perform such duties, not inconsistent with
law, as may be assigned to it by the Board of Directors.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE IV<BR>
OFFICES AND OFFICERS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Officers </U>. The Board of Directors
shall elect a Chief Executive Officer, a
President, a Chief Operating Officer, a Chief Financial Officer, a Secretary and a Treasurer, and
at its discretion, a Chairman of the Board, who shall be a director. Any two or more offices may
be held by the same person, but no officer shall execute, acknowledge, or verify any instrument in
more than one capacity if such instrument is required by law or otherwise to be executed,
acknowledged, or verified by two or more officers. The Board of Directors may appoint such other
officers or assistant officers as it may determine.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Election and Term of Office</U>. All of the officers of the Corporation as set
forth in Section&nbsp;1 of this Article&nbsp;IV shall be appointed by the Board of Directors at such time as
the Board may determine and each officer shall hold office until such officer&#146;s successor has
been duly chosen and has qualified, or until the officer resigns or is removed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Vacancies</U>. If any vacancy shall occur in any office of the Corporation,
such vacancy shall be filled by the Board of Directors.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE V<BR>
DUTIES OF OFFICERS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Chairman of the Board</U>. The Chairman of the Board, if one is appointed,
shall preside at all meetings of the Board of Directors and shall have such other powers and duties
as may be prescribed by the Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U> Chief Executive Officer</U>. The Chief Executive Officer shall be the chief
executive officer of the Corporation and shall have general direction of its business, affairs and
property and over its several officers. He shall preside at all meetings of the shareholders and,
in the absence of the Chairman of the Board, or if a Chairman has not been appointed, shall also
preside at meetings of the Board of Directors. He shall see that all orders and resolutions of the
Board of Directors are carried into effect, and he shall have the power to execute in the name of
the Corporation all authorized deeds, mortgages, bonds, contracts or
other instruments, except in cases in which the signing and execution
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">thereof shall have been expressly delegated to some
other officer or agent of the Corporation; and in general, he shall perform all duties incident to
the office of a chief executive officer of a corporation, and such other duties as from time to
time may be assigned to the Chief Executive Officer by the Board of Directors. He shall be ex
officio a member of all committees. He shall report to the Board of Directors all matters within
his knowledge which the interest of the Corporation may require be brought to their notice.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U> President</U>. The President of the Corporation, under the direction of the
Chief Executive Officer, shall have such powers and perform such duties as the Board of Directors
or the Chief Executive Officer may from time to time prescribe, and shall perform such other
duties as may be prescribed in these Regulations. In case of the absence or inability of the
Chief Executive Officer to act, then the President shall have the powers and discharge the duties
of the Chief Executive Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Chief Operating Officer</U>. The Chief Operating Officer of the Corporation,
under the direction of the Chief Executive Officer, shall have such powers and perform such duties
as the Board of Directors or the Chief Executive Officer may from time to time prescribe, and shall
perform such other duties as may be prescribed in these Regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Chief Financial Officer</U>. The Chief Financial Officer of the Corporation,
under the direction of the Chief Executive Officer, shall have such powers and perform such duties
as the Board of Directors or the Chief Executive Officer may from time to time prescribe, and shall
perform such other duties as may be prescribed in these Regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Secretary</U>. The Secretary shall attend all meetings of the shareholders of
the Corporation and of its Board of Directors and shall keep the minutes of all such meetings in a
book or books kept for that purpose. The Secretary shall keep in safe custody the seal of the
Corporation, and, when authorized by the Board of Directors, he shall affix such seal to any
instrument requiring it. In the absence of a Transfer Agent or a Registrar, the Secretary shall
have charge of the stock certificate books and the Secretary shall have charge of such other books
and papers as the Board of Directors may direct. He shall also have such other powers and perform
such other duties as pertain to his office, or as the Board of Directors or the Chief Executive
Officer may from time to time prescribe.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Assistant Secretary</U>. In the absence or disability of the Secretary, an
Assistant Secretary, designated by the Board of Directors, shall perform the duties of the
Secretary, and, when so acting, shall have all the powers of, and be subject to all the
restrictions upon, the Secretary. The Assistant Secretary shall also perform such other duties as
from time to time may be assigned to him or her by the Board of Directors or the Chief Executive
Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8. <U>Treasurer</U>. The Treasurer shall establish and execute programs for the
provision of the capital required by the Corporation including negotiating the procurement of
capital and maintaining the required financial arrangements. The Treasurer shall maintain
adequate sources for the Corporation&#146;s current borrowings from commercial banks and other lending
institutions and shall maintain banking arrangements to receive, have custody of and disburse the
Corporation&#146;s monies and securities. The Treasurer shall invest the Corporation&#146;s funds as
required, establish and coordinate policies for investment in pension
and other similar trusts, and provide insurance coverage
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">as required. The Treasurer shall direct the granting
of credit and the collection of accounts due the Corporation, including the supervision of required
special arrangements for financing sales such as time payment and leasing plans and shall perform
such other duties and have such other powers as the Board of Directors or the Chief Executive
Officer may from time to time prescribe.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9. <U>Assistant Treasurer</U>. In the absence of or disability of the Treasurer, an
Assistant Treasurer designated by the Board of Directors, shall perform the duties of the
Treasurer, and, when so acting, shall have all the powers of, and be subject to all restrictions
upon, the Treasurer. The Assistant Treasurer shall also perform such other duties as from time to
time may be assigned to him or her by the Board of Directors or the Chief Executive Officer.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VI<BR>
INDEMNIFICATION</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Right to Indemnification</U>. Each person who was or is made a party or is
threatened to be made a party to or is otherwise involved in any action, suit or proceeding,
whether civil, criminal, administrative or investigative (hereinafter a &#147;proceeding&#148;), by reason of
the fact that he or his testator or intestate (a)&nbsp;is or was a director or officer of the
Corporation or (b)&nbsp;is or was a director or officer of the Corporation who serves or served, in any
capacity, any other corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise at the request of the Corporation (hereinafter an &#147;indemnitee&#148;), shall be indemnified
and held harmless by the Corporation to the fullest extent permitted by Ohio law against all
expense, liability and loss (including attorneys&#146; fees, judgments, fines, ERISA excise taxes or
penalties and amounts paid in settlement) reasonably incurred or suffered by such indemnitee in
connection therewith, and such indemnification shall continue as to an indemnitee who has ceased to
be a director or officer and shall inure to the benefit of the indemnitee&#146;s heirs, executors and
administrators; <U>provided</U>, however, that, except as provided in Section&nbsp;3 of this Article&nbsp;VI
with respect to proceedings to enforce rights to indemnification or to advancement of expenses, the
Corporation shall indemnify any such indemnitee in connection with a proceeding (or part thereof)
initiated by such indemnitee only if such proceeding (or part thereof) was authorized by the Board
of Directors of the Corporation. The rights conferred by this Article&nbsp;VI shall be contract rights,
which shall not be abrogated by any amendment or repeal of this Article&nbsp;VI with respect to events
occurring prior to such amendment or repeal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Advancement of Expenses</U>. The right to indemnification conferred by Section
1 of this Article&nbsp;VI shall include the right to be paid by the Corporation the expenses incurred in
defending any proceeding as they are incurred in advance of final disposition of such proceeding
(hereinafter an &#147;advancement of expenses&#148;); <U>provided</U>, however, that such advancement of
expenses shall be made only upon delivery to the Corporation of the appropriate undertaking, if
any, required by the General Corporation Law of Ohio (hereinafter an &#147;undertaking&#148;), made by or on
behalf of such indemnitee, to repay such amounts; and <U>provided</U> <U>further</U> that a
determination that the indemnitee must repay such amounts pursuant to the terms of an undertaking
may be made only by final judicial decision from which there is no further right to appeal
(hereinafter a &#147;final adjudication&#148;).
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Suit by Indemnitee to Enforce Rights to Indemnification or by the Corporation
to Recover an Advancement of Expenses</U>. If a claim under this Article&nbsp;VI is not paid in full by
the Corporation within sixty days after a written demand therefor has been received by the
Corporation (except in the case of a claim for an advancement of expenses, in which case the
applicable period shall be twenty days), the indemnitee may at any time thereafter bring suit
against the Corporation to recover the unpaid amount of the claim. If he is successful in whole or
in part in any such suit, or in a suit brought by the Corporation to recover an advancement of
expenses pursuant to the terms of an undertaking, the indemnitee shall be entitled to be paid also
the expense of prosecuting or defending such suit. In any suit brought by an indemnitee to enforce
a right to indemnification hereunder (other than a suit brought by an indemnitee to enforce a right
to an advancement of expenses) it shall be a defense that the indemnitee is not entitled to
indemnification under Section&nbsp;1 of this Article&nbsp;VI. In any suit brought by the Corporation to
recover an advancement of expenses pursuant to the terms of an undertaking, the Corporation shall
be entitled to recover such expenses upon a final adjudication that, pursuant to the terms of the
undertaking, the indemnitee must repay such advancement of expenses. Neither the failure of the
Corporation (including its Board of Directors, independent legal counsel, or shareholders) to have
made a determination prior to the commencement of such suit that the indemnitee is entitled to
indemnification under Section&nbsp;1 of this Article&nbsp;VI or that the indemnitee is not required to repay
an advancement of expenses pursuant to the terms of an undertaking, nor an actual determination by
the Corporation (including its Board of Directors, independent legal counsel, or shareholders) that
the indemnitee is not entitled to indemnification under Section&nbsp;1 of this Article&nbsp;VI or that the
indemnitee must repay an advancement of expenses pursuant to the terms of an undertaking, shall (a)
create a presumption that the indemnitee is not entitled to indemnification under Section&nbsp;1 of this
Article&nbsp;VI or that the indemnitee must repay an advancement of expenses pursuant to the terms of an
undertaking, or (b)&nbsp;in the case of a suit brought by the indemnitee, be a defense to such suit. In
any suit brought by the indemnitee to enforce a right to indemnification or to an advancement of
expenses hereunder, the burden of proving that the indemnitee is not entitled to such
indemnification or to such advancement of expenses, under this Article&nbsp;VI or otherwise, shall be on
the Corporation. In any suit brought by the Corporation to recover an advancement of expenses
pursuant to the terms of an undertaking, the burden or proving that the indemnitee must repay such
advancement of expenses pursuant to the terms of such undertaking shall be on the Corporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Non-Exclusivity of Rights</U>. The rights to indemnification and to the
advancement of expenses conferred by this Article&nbsp;VI shall not be exclusive of any other right
which any person may have or hereafter acquire under any statute, the Corporation&#146;s Articles of
Incorporation, these Regulations, any agreement, any vote of shareholders or of disinterested
directors, or otherwise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Insurance</U>. The Corporation may purchase and maintain insurance or furnish
similar protection, including without limitation trust funds, letters of credit, or self-insurance,
on behalf of or for any person who is or was a director, officer, employee or agent of the
Corporation, or is or was serving at the request of the Corporation as a director, trustee,
officer, employee or agent of another corporation, domestic or foreign, non-profit or for profit,
partnership, joint venture, trust or other enterprise, against any liability asserted against him
and incurred by him in any such capacity, or arising out of his status as such, whether or not the
Corporation would have the power to indemnify him against such
liability under this Article&nbsp;VI or applicable law. Such insurance may be purchased or
maintained with a person or entity in
which the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Corporation has a financial interest.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Indemnification of Employees and Agents of the Corporation</U>. The
Corporation may, to the extent authorized from time to time by the Board of Directors in the
specific case, grant to any employee or agent of the Corporation rights to indemnification and
advancement of expenses to such extent as the Board of Directors may so determine, up to and
including the fullest extent of the provisions of this Article&nbsp;VI pertaining to indemnification of
and advancement of expenses to directors and officers of the Corporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Retroactive Application</U>. This Article&nbsp;VI shall, to the fullest extent
permitted by law, be applied retroactively to events occurring prior to the adoption of this
Article&nbsp;VI.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VII<BR>
CERTIFICATES FOR SHARES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Issue of Certificates</U>. The shares of capital stock of the Corporation may
be represented by certificates or they may be uncertificated. If the shares are to be represented
by certificates, then the Board of Directors shall provide for the issue and transfer of the
certificates of capital stock of the Corporation, and shall prescribe the form of such
certificates. Every owner of stock of the Corporation shall be entitled to a certificate of stock
which shall be under the seal of the Corporation (which seal may be a facsimile, engraved or
printed), specifying the number of shares owned by such owner, and which certificate shall be
signed by the President or Vice-President and by the Secretary or an Assistant Secretary or the
Treasurer or an Assistant Treasurer of the Corporation. Said signatures may, wherever permitted by
law, be facsimile, engraved or printed. In case any officer or officers who shall have signed, or
whose facsimile signature or signatures shall have been used on any such certificate or
certificates shall cease to be such officer or officers of the Corporation, whether because of
death, resignation or otherwise, before such certificate or certificates shall have been delivered
by the Corporation, such certificate or certificates may nevertheless be issued and delivered as
though the person or persons who signed such certificate or certificates or whose facsimile
signature or signatures shall have been used thereon had not ceased to be such officer or officers
of the Corporation. Except as otherwise expressly provided by law, the rights and obligations of
the holders of uncertificated shares and the rights and obligations of the holders of certificates
representing shares of the same class and series shall be identical.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Transfer Agents and Registrars</U>. The Corporation may have one or more
Transfer Agents and one or more Registrars of its stock, whose respective duties the Board of
Directors may, from time to time, prescribe. If the Corporation shall have a Transfer Agent, no
certificate of stock shall be valid until countersigned by such
Transfer Agent, and if the Corporation shall have a Registrar, until registered by the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Registrar. The duties of the
Transfer Agent and Registrar may be combined.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Transfer of Shares</U>. The shares of the Corporation shall be transferable
only upon it books and by the holders thereof in person or by their duly authorized attorneys or
legal representatives, and upon such transfer the old certificates shall be surrendered to the
Corporation by the delivery thereof to the person in charge of the stock and transfer books and
ledgers or to such other person as the Board of Directors may designate for such purpose, and new
certificates shall thereupon be issued.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Addresses of Shareholders</U>. Every shareholder shall furnish the Transfer
Agent, or in the absence of a Transfer Agent, the Registrar, or in the absence of a Transfer Agent
and a Registrar, the Secretary, with an address at or to which notices of meetings and all other
notices may be served upon or sent to such shareholder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Closing of the Transfer Books; Record Date</U>. The Board of Directors shall
have power to close the stock transfer books of the Corporation for a period not exceeding sixty
(60)&nbsp;days and not less than ten (10)&nbsp;days prior to the date of any meeting of shareholders;
provided, however, that in lieu of closing the stock transfer books as aforesaid the Board of
Directors may fix a date not exceeding sixty (60)&nbsp;days and not less than ten (10)&nbsp;days prior to the
date of any such meeting as the time as of which shareholders entitled to notice of and to vote at
such meeting shall be determined, and all persons who were holders of record of voting stock at
such time and no other shall be entitled to notice of and to vote at such meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors shall also have the power to close the stock transfer books of the
Corporation for a period not exceeding sixty (60)&nbsp;days preceding the date fixed for the payment of
any dividend or the making of any distribution or for the delivery of any evidence of right or
evidence of interest; provided, however, that in lieu of closing the stock transfer books as
aforesaid the Board of Directors may fix a date not exceeding sixty (60)&nbsp;days preceding the date
fixed for the payment of any such dividend or the making of any such distribution or for the
delivery of any such evidence of right or interest as a record time for the determination of the
shareholders entitled to receive any such dividend, distribution or evidence of right or interest,
and in such case only shareholders of record at the time so fixed shall be entitled to receive such
dividend, distribution or evidence of right or interest.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In no event shall the Board of Directors fix a record date for any purpose which shall be a
date earlier than the date on which the record date is fixed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Lost, Stolen and Destroyed Certificates</U>. The Board of Directors may direct
a new certificate or certificates of stock to be issued in the place of any certificate or
certificates theretofore issued and alleged to have been lost, stolen or destroyed; but the Board
of Directors when authorizing such issue of a new certificate or certificates, may in its
discretion require the owner of the stock represented by the certificate so lost, stolen or
destroyed or the shareholder&#146;s legal representative to furnish proof by affidavit or otherwise to
the satisfaction of the Board of Directors of the ownership of the stock represented by such
certificate alleged to have been lost, stolen or destroyed and the facts which tend to prove its
loss, theft or destruction. The Board of Directors may also require such person to execute and
deliver to the Corporation a bond, with or without sureties, in such sum as the Board of Directors
may direct, indemnifying the Corporation against any claim that may be made
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">against it by reason of the issue of such
new certificate. The Board of Directors, however, may in its discretion, refuse to issue any such
new certificate, except pursuant to court order.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 18pt"><B>ARTICLE VIII<BR>
AMENDMENTS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Code of Regulations may be amended, at any meeting of shareholders called for that
purpose, by the affirmative votes of the holders of record of shares entitling them to exercise a
majority of the voting power on such proposal, or, without a meeting, by the written consent of the
holders of record of shares entitling them to exercise a majority of the voting power on such
proposal, or by the Board of Directors, except that Article&nbsp;II, Sections&nbsp;1, 2 and 3, and this
Article&nbsp;VIII may not be amended or repealed without the affirmative vote or consent in writing of
the holders of record of shares entitling them to exercise seventy-five percent (75%) of the shares
entitled to vote or consent to such proposal.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>l37875exv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->






<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 18pt">
<IMG src="l37875l3787500.gif" alt="(TRANSCAT LOGO)">
</DIV>



<DIV align="center">
<DIV style="font-size: 1pt; margin-top: 10pt; width: 100%; border-top: 3px double #000000">&nbsp;</DIV>

</div>



<DIV align="left" style="font-size: 12pt; margin-top: 12pt"><B>Transcat, Inc. </B>35 Vantage Point Drive <B>&#149;</B> Rochester <B>&#149;</B> NY <B>&#149;</B> 14624 <B>&#149;</B> Phone: (585)&nbsp;352&#150;7777
</DIV>


<DIV align="left" style="font-size: 14pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt">

<TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Service segment revenue grows 15.5%; offsets 7.6% decline in product segment sales</I></B></TD>
</TR>



<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Total net revenue of $18.5&nbsp;million; relatively flat with prior fiscal year second quarter</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Diluted earnings per share of $0.02 compared with $0.06 in prior year second quarter</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 12pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Significant liquidity: Generated $3.5&nbsp;million in cash from operations in first six months
of fiscal 2010</I></B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ROCHESTER, NY, October&nbsp;26, 2009 &#150; Transcat, Inc. (Nasdaq: TRNS), a leading global distributor of
professional grade handheld test and measurement instruments and accredited provider of
calibration, repair services, parts inspection and production model engineering, today reported
financial results for its second quarter of fiscal 2010 which ended September&nbsp;26, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net revenue in the second quarter of fiscal 2010 was $18.5&nbsp;million, relatively flat when compared
with net revenue of $18.6&nbsp;million in the second quarter of fiscal 2009. Second quarter fiscal 2009
results included six weeks of Westcon, Inc. operations, which the Company acquired on August&nbsp;14,
2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net income was $0.2&nbsp;million, or $0.02 per diluted share, in the second quarter of fiscal 2010, down
from net income of $0.4&nbsp;million, or $0.06 per diluted share for the same period of the prior fiscal
year. Net income was negatively impacted by lower operating income from the Company&#146;s product
segment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Charles P. Hadeed, President, CEO and COO of Transcat, commented, &#147;As the severe decline in the
economy stabilized during the quarter, our performance also improved. Service segment revenue grew
15.5%, which reflects our sales and marketing investments in our targeted markets and the quality
of services we provide, all of which we believe leads to high revenue retention. This growth was
leveraged into expanding that segment&#146;s gross profit margin by 180 basis points and achieving near
breakeven segment operating profit. Although product segment results remained soft, sustained
growth within our wind energy customer base, which accounted for 13.1% of product segment sales,
somewhat mitigated external economic factors.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Service segment revenue, which represented 35.3% of total net revenue, was up $0.9&nbsp;million, or
15.5%, to $6.5&nbsp;million in the second quarter of fiscal 2010, when compared with revenue of $5.7
million in the prior year second quarter. Product segment sales, representing the Company&#146;s
distribution business, for the second quarter of fiscal 2010 were $12.0&nbsp;million, down $1.0&nbsp;million,
or 7.6%, when compared with the same period of the prior fiscal year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Second Quarter Fiscal 2010 Review</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gross profit was $4.1&nbsp;million, or 22.3% of net revenue, in the second quarter of fiscal 2010
compared with $4.5&nbsp;million, or 24.4% of net revenue, in the same period of the prior fiscal year.
The lower gross profit and margin was primarily due to reduced product segment sales volume, lower
manufacturer volume-based rebate income, and additional product pricing pressures, offset partially
by improved leverage in the service segment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Selling, marketing and warehouse expenses increased to $2.4&nbsp;million in the second quarter of fiscal
2010 compared with $2.1&nbsp;million in the same period the prior fiscal year. Investment in the wind
energy
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Two &#150; October&nbsp;26, 2009

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">market and additional sales personnel led to the $0.3&nbsp;million increase. Offsetting this
increase was a $0.3&nbsp;million, or 18.4%, reduction in administrative expenses from cost control
measures. As a result, operating expenses in the quarter were flat when compared with the prior
fiscal year period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Operating income for the second quarter of fiscal 2010 was $0.3&nbsp;million, or 1.8% of net revenue,
compared with $0.7&nbsp;million, or 4.0% of net revenue, in the second quarter of fiscal 2009. The
decline was the result of lower product segment gross profit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The effective tax rate in the second quarter of fiscal 2010 was 39.0%. For the fiscal year, the
effective tax rate is expected to be in the 38% to 40% range.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Product and Service Segment Review</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Transcat is uniquely positioned to serve the pharmaceutical and FDA-regulated, energy and chemical
process industries as well as utilities, industrial manufacturing and other industries through its
ability to bundle a broad variety of premium test and measurement instruments with quality
calibration services, repair capabilities, parts inspection and production model engineering for
its customers through its distribution operations in New York and Oregon and its 12 Calibration
Centers of Excellence in the United States, Canada and Puerto Rico. Its automated calibration
tracking and management systems, breadth of calibration disciplines and product lines, and its
refined product delivery systems enable it to rapidly respond to its customers&#146; requirements for
quick turn-around times, which it believes provides a competitive advantage.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><I>Product Segment</I></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Through its product segment, Transcat markets and distributes national and proprietary brand
instruments to over 13,000 global customers. The Company offers access to more than 25,000 test
and measurement instruments. The product segment primarily uses direct marketing and the Company&#146;s
website to market to end-users as well as to resellers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Product segment net sales decreased $1.0&nbsp;million, or 7.6%, to $12.0&nbsp;million in the second quarter
of fiscal 2010 compared with $13.0&nbsp;million in the same period of the prior fiscal year. The
decline in product segment sales reflected the impact of the weak economy and aggressive pricing
measures partially offset by increased sales to wind energy customers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Average product segment sales per day were $190 thousand in the second quarter of fiscal 2010
compared with $206 thousand in the same period of the prior fiscal year. Sales of the Company&#146;s
products over its website increased 34.3% to $1.0&nbsp;million in the second quarter of fiscal 2010
compared with $0.7&nbsp;million in the same period the prior fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Product segment gross profit in the second quarter of fiscal 2010 was $2.7&nbsp;million, or 22.2% of net
product sales, compared with $3.4&nbsp;million, or 26.0% of net product sales, in the second quarter of
fiscal 2009. Gross margin for the product segment is a function of a number of factors including
volume, market channel mix, manufacturers&#146; rebates, product mix and discounts to customers. The
reduction in gross profit and gross margin in the second quarter of fiscal 2010 was due to reduced
volume from the recessionary economy, increased price discounting for market share retention and
lower vendor point-of-sale rebates. Vendor point-of-sale rebates are based on year-over-year
growth in product segment sales. The Company did not qualify for this type of rebate in the second
quarter of fiscal 2010. In the second quarter of fiscal 2009, point-of-sale rebates were $0.1
million.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Product segment operating income was $0.4&nbsp;million, or 3.0% of net product sales, in the second
quarter of fiscal 2010 compared with $1.1&nbsp;million, or 8.3% of net product sales, in the same period
of the prior fiscal year.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Three &#150; October&nbsp;26, 2009

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><I>Service Segment</I></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Transcat&#146;s customers purchase calibration services for the purpose of measurably reducing their
risk of product or process failures that can be caused by inaccurate measurements. Transcat
annually performs more than 140,000 calibrations at its 12 Calibration Centers of Excellence or at
its customers&#146; locations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Service segment revenue was $6.5&nbsp;million in the second quarter of fiscal 2010, a $0.9&nbsp;million or
15.5% increase, compared with $5.7&nbsp;million in the same period of the prior fiscal year. The timing
of calibration orders and segment expenses can vary on a quarter-to-quarter basis based on the
nature of a customers&#146; business and calibration requirements. In general, a trailing twelve-month
trend provides a better indication of the progress of this segment. Service segment revenue for
the trailing twelve months that ended September&nbsp;26, 2009 were $25.2&nbsp;million, up 7.6%, when compared
with $23.4&nbsp;million for the trailing twelve-month period that ended September&nbsp;27, 2008. Transcat&#146;s
goal is to grow this business in the low double digit range over the long term.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company&#146;s strategy has been to focus its capital and marketing investments in the electrical,
temperature, pressure and dimensional disciplines. Historically, 15% to 20% of service segment
revenue is generated from outsourcing customer equipment to third-party vendors for calibration
beyond Transcat&#146;s chosen scope of capabilities. In the second quarter of fiscal 2010, 77.3% of
service segment revenue was generated by the Company&#146;s staff of technicians while 20.2% was
subcontracted to third-party vendors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Service segment gross profit in the second quarter of fiscal 2010 was $1.5&nbsp;million, or 22.5% of
service segment net revenue, up from $1.2&nbsp;million, or 20.7% of service segment net revenue, in the
same period of the prior fiscal year. Driving this increase is the operational leverage built into
the service segment, where the Company is able to spread the fixed costs of its laboratory
operations over higher volume. Organic revenue expansion provides for full leverage potential
whereas acquired revenue comes with associated cost structure and therefore does not contribute to
expanding margins.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The service segment operating loss was virtually breakeven for the second quarter of fiscal 2010,
an improvement of $0.3&nbsp;million over last year&#146;s second quarter operating loss.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Six-Month Review</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net revenue for the first six months of fiscal 2010 was $35.7&nbsp;million, down 2.1% when compared with
net revenue of $36.5&nbsp;million in the first six months of fiscal 2009. Fiscal 2009 results included
six weeks of operations of Westcon as previously noted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Product segment net sales were $23.2&nbsp;million in the first half of fiscal 2010, down 8.0%, compared
with $25.3&nbsp;million in the same period of the prior fiscal year. Sales to wind energy customers in
the first half of fiscal 2010 accounted for 11.9%, or $2.8&nbsp;million, of net product sales. Product
sales generated over the Company&#146;s website were $1.9&nbsp;million in the first six months of fiscal
2010, up 17.5%, when compared with $1.6&nbsp;million in the first half of fiscal 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Service segment net revenue was $12.5&nbsp;million in the first six months of fiscal 2010, up 11.4%,
compared with net revenue of $11.2&nbsp;million in the first six months of fiscal 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Gross margin was 22.3% for the first six months of fiscal 2010 compared with 24.8% in the same
period of the prior fiscal year. Product segment gross margin was 22.8% and 26.6% for the first
six months of fiscal 2010 and 2009, respectively. The year-over-year decrease was a result of
aggressive pricing and reduced vendor volume-based rebate income. Service segment gross margin was
21.4% in the first half of fiscal 2010 compared with 20.8% in the same period of the prior fiscal
year. As previously noted, higher organic service segment revenue drove the margin expansion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Operating expenses were $7.8&nbsp;million in the first six months of fiscal 2010, slightly lower than
the $7.9&nbsp;million reported in the same period of the prior fiscal year. Year-over-year strategic
investments in
</DIV>





<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Four &#150; October&nbsp;26, 2009

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">sales and marketing for the service segment and wind energy industry were more than
offset by cost control measures and reductions in performance-based management compensation.
Operating income in the first six months of fiscal 2010 was
$0.2&nbsp;million, or 0.6% of net revenue, compared with
$1.1&nbsp;million, or 3.1% of net revenue, in the first six months of fiscal 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net income was $0.1&nbsp;million, or $0.01 per diluted share, for the first six months of fiscal 2010
compared with $0.7&nbsp;million, or $0.09 per diluted share, for the same period of the prior fiscal
year.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Balance Sheet and Cash Management</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Net cash generated from operations was $3.5&nbsp;million in the first six months of fiscal 2010 compared
with $1.0&nbsp;million in the same period of the prior fiscal year. The incremental cash was used to
repay long-term debt which decreased to $1.6&nbsp;million at September&nbsp;26, 2009, compared with $2.2
million at June&nbsp;27, 2009 and $3.6&nbsp;million at March&nbsp;28, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">At September&nbsp;26, 2009, accounts payable were $7.0&nbsp;million compared with $4.7&nbsp;million at March&nbsp;28,
2009. The increase was due to inventory purchases in September in anticipation of increased demand
in the second half of fiscal 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Capital expenditures were $0.6&nbsp;million in the first six months of fiscal 2010 and were primarily
used for additional laboratory capabilities. This is relatively flat when compared with the same
period of the prior fiscal year. Transcat expects capital spending for fiscal 2010 to be
approximately $1.0&nbsp;million. During the second quarter of fiscal 2010, Transcat made additional
payments to the former owner of Westcon totaling $1.1&nbsp;million based on the terms of the acquisition
agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Expectations for Stronger Second Half Weighted in the Fourth Quarter of Fiscal 2010</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Hadeed concluded, &#147;We feel that the economic environment is beginning to stabilize as we head
into the second half of our fiscal year. We are cautiously optimistic that things will continue to
improve, which should result in our second half being stronger than the first. It is still too
early for us to define how wind energy sales will affect our overall business, though we feel
product sales to wind energy customers should continue to be strong. Our solid cash flow
generation and balance sheet will allow us to continue to make prudent and strategic investments in
our infrastructure and people, so that we can maintain our focus on the execution of our long-term
strategy.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ABOUT TRANSCAT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Transcat, Inc. is a leading global distributor of professional grade handheld test and measurement
instruments and accredited provider of calibration, parts inspection, production model engineering
and repair services primarily for the pharmaceutical and FDA-regulated, industrial manufacturing,
energy and utilities, chemical process, and other industries. Through its distribution products
segment, Transcat markets and distributes national and proprietary brand instruments to over 13,000
global customers. The Company offers access to more than 25,000 test and measurement instruments.
Transcat delivers precise, reliable, fast calibration, parts inspection, production model
engineering and repair services across the United States, Canada and Puerto Rico through its 12
strategically located Calibration Centers of Excellence. Transcat&#146;s calibration laboratories are
ISO-9001:2000 registered and the scope of accreditation to ISO/IEC 17025 is believed to be one of
the broadest in the industry.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Transcat&#146;s growth strategy is to expand both its distribution products and calibration services in
markets that value product breadth and availability and rely on accredited calibration services to
maintain the integrity of their processes.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">More information about Transcat can be found on its website at: www.transcat.com
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Safe Harbor Statement</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as &#147;expects,&#148; &#147;estimates,&#148; &#147;projects,&#148; &#147;anticipates,&#148;
&#147;believes,&#148; &#147;could,&#148; and other similar words. All statements addressing operating performance,
events, or developments that Transcat, Inc. expects or anticipates will occur in the future,
including but not limited
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Five &#150; October&nbsp;26, 2009

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">to statements relating to anticipated revenue, profit margins, sales
operations, its strategy to build its sales representative channel, customer preferences and
changes in market conditions in the industries in which Transcat operates are forward-looking
statements. Because they are forward-looking, they should be evaluated in light of important risk
factors and uncertainties. These risk factors and uncertainties are more fully described in Transcat&#146;s Annual and Quarterly Reports
filed with the Securities and Exchange Commission, including under the heading entitled &#147;Risk
Factors.&#148; Should one or more of these risks or uncertainties materialize, or should any of the
Company&#146;s underlying assumptions prove incorrect, actual results may vary materially from those
currently anticipated. In addition, undue reliance should not be placed on the Company&#146;s
forward-looking statements. Except as required by law, the Company disclaims any obligation to
update or publicly announce any revisions to any of the forward-looking statements contained in
this press release.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>For more information contact:</B><BR>
John Zimmer, Chief Financial Officer<BR>
Phone: (585)&nbsp;352-7777 Email: jzimmer@transcat.com<BR>
- -OR-<BR>
Deborah Pawlowski, Investor Relations<BR>
Phone: (716)&nbsp;843-3908 Email: dpawlowski@keiadvisors.com

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">FINANCIAL TABLES FOLLOW.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>



<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Six &#150; October&nbsp;26, 2009

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TRANSCAT, INC.<BR>
CONSOLIDATED STATEMENTS OF OPERATIONS</B><BR>
(Amounts in thousands, except per share data)
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">(Unaudited)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">(Unaudited)</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Second Quarter Ended</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Six Months Ended</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 26,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 27,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 26,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 27,</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Product Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,959</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">23,238</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">25,270</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Service Revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,651</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,465</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,193</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net Revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,495</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35,703</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36,463</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of Products Sold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,308</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,594</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,930</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,543</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of Services Sold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,057</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,481</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,800</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,860</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total Cost of Products
and Services Sold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,365</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,075</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,730</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,403</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross Profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,130</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,535</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,973</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,060</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling, Marketing and Warehouse Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,449</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,148</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,743</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Administrative Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,345</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,648</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,745</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,190</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total Operating Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,794</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,796</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,753</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,933</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating Income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">336</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">739</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">220</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,127</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest Expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Expense, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total Other Expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income Before Income Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">308</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">707</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">163</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,088</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Provision for Income Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">120</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">277</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">430</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net Income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">188</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">430</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">99</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">658</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Basic Earnings Per Share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.03</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.01</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.09</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Average Shares Outstanding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,402</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,282</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,396</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,239</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Diluted Earnings Per Share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.02</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.01</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.09</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Average Shares Outstanding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,611</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,511</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,609</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,453</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Seven &#150; October&nbsp;26, 2009

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TRANSCAT, INC.<BR>
CONSOLIDATED BALANCE SHEETS</B><BR>
(Amounts in thousands, except share and per share data)
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" colspan="2">(Unaudited)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 26,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>March 28,</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2009</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ASSETS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current Assets:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap><DIV style="margin-left:30px; text-indent:-15px">Accounts Receivable, less allowance for doubtful accounts of $100
and $75 as of September&nbsp;26, 2009 and <BR>
March&nbsp;28, 2009, respectively</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,279</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,981</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other Receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">510</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">119</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Inventory, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,865</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,887</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Prepaid Expenses and Other Current Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,024</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">774</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Deferred Tax Asset</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">380</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total Current Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,196</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,200</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Property and Equipment, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,157</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,174</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,016</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,923</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Intangible Asset, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">996</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,091</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred Tax Asset</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">608</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">635</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">385</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">368</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">30,358</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">29,391</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>LIABILITIES AND SHAREHOLDERS&#146; EQUITY</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current Liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accounts Payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,038</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,748</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accrued Compensation and Other Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,787</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,757</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Income Taxes Payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">94</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">215</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total Current Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,919</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,720</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Long-Term Debt</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,592</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,559</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">568</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">493</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,079</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,772</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shareholders&#146; Equity:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Common Stock, par value $0.50 per share, 30,000,000 shares authorized;
7,682,617 and 7,656,358 shares issued as of September&nbsp;26, 2009 and
March&nbsp;28, 2009, respectively; 7,406,835 and 7,380,576 shares
outstanding as of September&nbsp;26, 2009 and March&nbsp;28, 2009, respectively</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,841</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,828</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Capital in Excess of Par Value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,082</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,606</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accumulated Other Comprehensive Income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">392</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">320</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Retained Earnings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,952</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,853</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Less: Treasury Stock, at cost, 275,782 shares as of
September&nbsp;26, 2009 and March&nbsp;28, 2009</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(988</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(988</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total Shareholders&#146; Equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,279</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,619</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total Liabilities and Shareholders&#146; Equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">30,358</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">29,391</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Eight &#150; October&nbsp;26, 2009

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TRANSCAT, INC.<BR>
CONSOLIDATED STATEMENTS OF CASH FLOWS</B><BR>
(Amounts in thousands)
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6">(Unaudited)</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Second Quarter Ended</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 26,</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>September 27,</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>2008</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash Flows from Operating Activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net Income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">99</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">658</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Adjustments to Reconcile Net Income to Net Cash Provided
by Operating Activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Deferred Income Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(68</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Depreciation and Amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">959</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">772</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Provision for Accounts Receivable and Inventory Reserves</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Stock-Based Compensation Expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">370</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">355</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Changes in Assets and Liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Accounts Receivable and Other Receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">333</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">654</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Inventory</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(40</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Prepaid Expenses and Other Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(511</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(710</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Accounts Payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,290</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(269</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Accrued Compensation and Other Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">114</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(601</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Income Taxes Payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(131</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Net Cash Provided by Operating Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,507</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,003</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash Flows from Investing Activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Purchase of Property and Equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(603</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(587</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Payments of Contingent Consideration</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,093</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#150;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Purchase of Westcon, Inc., net of cash acquired</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#150;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,625</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Net Cash Used in Investing Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,696</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,212</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash Flows from Financing Activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Revolving Line of Credit, net</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,955</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,026</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Payments on Other Debt Obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(12</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#150;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Issuance of Common Stock</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">109</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">119</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Excess Tax Benefits Related to Stock-Based Compensation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Net Cash (Used in) Provided by Financing Activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,848</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,186</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Effect of Exchange Rate Changes on Cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net Decrease in Cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(23</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(24</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash at Beginning of Period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">208</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash at End of Period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">184</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Nine &#150; October&nbsp;26, 2009

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TRANSCAT INC.<BR>
FISCAL 2010 SECOND QUARTER<BR>
ADDITIONAL INFORMATION</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>BUSINESS SEGMENT DATA</B><BR>
(Dollars in thousands)

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><I>(Unaudited)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><I>(Unaudited)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Quarter ended</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Quarter ended</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>September 26, 2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>September 27, 2008</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>$ Change</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>% Change</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Products</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11,970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,959</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(989</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7.6</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,662</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,365</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(703</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(20.9</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>22.2</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>26.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">364</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(707</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(66.0</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>3.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>8.3</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Services</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">6,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,651</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">874</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">15.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,468</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,170</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">298</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">25.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>22.5</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>20.7</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating loss</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(28</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(332</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">304</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">91.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>(0.4</I></TD>
    <TD nowrap><I>%)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>(5.9</I></TD>
    <TD nowrap><I>%)</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Consolidated</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">18,495</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">18,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(115</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(0.6</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,130</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,535</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(405</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(8.9</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>22.3</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>24.4</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">336</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">739</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(403</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(54.5</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>1.8</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>4.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Ten &#150; October&nbsp;26, 2009

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TRANSCAT INC.<BR>
FISCAL 2010 SIX MONTHS<BR>
ADDITIONAL INFORMATION</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>BUSINESS SEGMENT DATA</B><BR>
(Dollars in thousands)

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><I>(Unaudited)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><I>(Unaudited)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Six months ended</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Six months ended</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>September 26, 2009</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>September 27, 2008</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>$ Change</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>% Change</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Products</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">23,238</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">25,270</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(2,032</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(8.0</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,308</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,727</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,419</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(21.1</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>22.8</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>26.6</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">660</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,019</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,359</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(67.3</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>2.8</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>8.0</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Services</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">12,465</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">11,193</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,272</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">11.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,665</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,333</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">332</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">14.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>21.4</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>20.8</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating loss</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(440</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(892</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">452</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">50.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>(3.5</I></TD>
    <TD nowrap><I>%)</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>(8.0</I></TD>
    <TD nowrap><I>%)</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Consolidated</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">35,703</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">36,463</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(760</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2.1</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross profit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,973</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,060</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,087</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(12.0</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>22.3</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>24.8</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">220</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,127</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(907</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(80.5</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><I>Margin</I></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>0.6</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right"><I>3.1</I></TD>
    <TD nowrap><I>%</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Eleven &#150; October&nbsp;26, 2009

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TRANSCAT INC.<BR>
ADDITIONAL INFORMATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>PRODUCT SEGMENT SALES BY MARKET CHANNEL</B><BR>
(Amounts in thousands)<BR>
(Unaudited)

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="22" style="border-bottom: 1px solid #000000"><B>FY 2010</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FY 2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>% of</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>YTD Total</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Direct</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,069</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">10,079</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">19,148</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">82.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Reseller</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,028</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,724</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,752</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">16.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">171</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">167</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">338</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Product Sales</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,268</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">23,238</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="22" style="border-bottom: 1px solid #000000"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>% of</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Direct</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">10,074</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">10,051</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,147</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">10,140</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">41,412</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">80.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Reseller</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,039</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,699</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,675</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,906</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,319</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">18.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">198</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">209</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">173</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">169</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">749</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Product Sales</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,311</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,959</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,995</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,215</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">51,480</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>PRODUCT SEGMENT SALES PER BUSINESS DAY</B><BR>
(Dollars in thousands)<BR>
(Unaudited)

</DIV>
<DIV align="left">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">

    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="18" style="border-bottom: 1px solid #000000"><B>FY 2010</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FY 2010</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>YTD Total</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD  style="background: #cceeff"><DIV style="margin-left:15px; text-indent:-15px"><B>Number of business days</B></DIV></TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD align="right"  style="background: #cceeff">64</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD align="right"  style="background: #cceeff">63</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD align="right"  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD align="right"  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD align="right"  style="background: #cceeff">127</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total product sales</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,268</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">23,238</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD  style="background: #cceeff"><DIV style="margin-left:15px; text-indent:-15px"><B>Sales per day</B></DIV></TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD align="left"  style="background: #cceeff">$</TD>
    <TD align="right"  style="background: #cceeff">176</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD align="left"  style="background: #cceeff">$</TD>
    <TD align="right"  style="background: #cceeff">190</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD align="right"  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD align="right"  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD  style="background: #cceeff">&nbsp;</TD>
    <TD align="left"  style="background: #cceeff">$</TD>
    <TD align="right"  style="background: #cceeff">183</TD>
    <TD>&nbsp;</TD>
</TR>

<TR STYLE="FONT-SIZE: 10PT"><TD>&nbsp;</TD></TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="18" style="border-bottom: 1px solid #000000"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Number of business days</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">253</TD>
    <TD  style="background: #fffff">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total product sales</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,311</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,959</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,995</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,215</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">51,480</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Sales per day</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">192</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">206</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">226</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">191</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">203</TD>
    <TD  style="background: #fffff">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- MORE -
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Transcat Reports Second Quarter Fiscal 2010 Financial Results</B><BR>
Page Twelve &#150; October&nbsp;26, 2009

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>PRODUCT SEGMENT SALES BY REGION</B><BR>
(Amounts in thousands)<BR>
(Unaudited)

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="22" style="border-bottom: 1px solid #000000"><B>FY 2010</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FY 2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>% of</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>YTD Total</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>United States</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,349</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,713</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">19,062</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">82.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Canada</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">637</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">773</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,410</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">6.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Other International</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,111</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,317</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,428</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">10.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">171</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">167</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">338</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,268</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">23,238</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="22" style="border-bottom: 1px solid #000000"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>% of</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>United States</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">10,066</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">11,540</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,853</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">40,943</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">79.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Canada</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">784</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">999</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">866</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">797</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,446</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">6.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Other International</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,845</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,685</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,416</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,396</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,342</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">12.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">198</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">209</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">173</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">169</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">749</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,311</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,959</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,995</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,215</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">51,480</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>SERVICE SEGMENT REVENUE BY TYPE</B><BR>
(Amounts in thousands)<BR>
(Unaudited)

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="22" style="border-bottom: 1px solid #000000"><B>FY 2010</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FY 2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>% of</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>YTD Total</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Depot/On-site</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,710</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">5,045</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,755</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">78.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Outsourced</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,079</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,319</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,398</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">19.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">151</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">161</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">312</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Service Revenue</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">5,940</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">6,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">12,465</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 0px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 0px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 0px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="22" style="border-bottom: 1px solid #000000"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>FY 2009</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q3</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Total</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>% of Total</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Depot/On-site</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,478</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,441</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,705</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">5,482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">19,106</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">79.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Outsourced</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">911</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,065</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,093</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,064</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,133</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">17.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Freight Billed to Customers</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">153</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">145</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">199</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">203</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Service Revenue</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">5,542</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">5,651</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">5,997</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">6,749</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">23,939</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- END -
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>l37875l3787500.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 l37875l3787500.gif
M1TE&.#EA6`)8`.8``*BYS^OT]NOIY[/$UI"-B?[^^1H7%S9+BL7$PQ$I@MKC
MZM?:V9>LR%1FDO7Z^G%K:!`G>Q`FA(:8N1(IB=K=YI*DO<&[L_KZZ//S\D-6
MCLO9X_K]_2X^B%)/3<K5W/[^]OO[^61XJOK]^F-RE'B(NG>'J2<Y>*NGI`\C
M>>3CX#)%=_[Z^N3M\(62PO3Z]6^`G%ALH=WI[\'+UKFWN'F5N!$FB-;3T`\D
M@8>9KM#,QVZ$J/[[_10G;)>>N/[^\?K]]O'X^,?"NOGZ]_[Z]FN#LX!Z=D-2
M>[S0W8.0M*>RQ*"KO>ORZ[>RKN#=V?C[_(..JIR8E-7@X+*MJ!TO>/?W]AHE
M5F=B7M_R])&9K/[V^O[Z\7B0JR`SB._O[::BGPX?<_K]\7V2OR<T8(B$@=#@
MZE!?A$5?G,/0X/K[\W".M!4LC!@LD%Q85@\C;_#L\LW9TQDL@!TO:S0R,!@Q
MCA`?7A4GC49"00X@A/___/W]_?_]_?W___W__!$HA0<%!O___R'Y!```````
M+`````!8`E@```?_@'^"@X2%@CM9*WDK.WF.CY"1CQN/3@X;3B`7%PY.DI^2
M(B*8>7QX!7EZ>'A[>X(%KH9_!7R.>GJ.!:B?F`X%*V@.0)ZI>7M.GEE#NRNH
ME'F4KHY:%T"@><@%0WD@NM!Y>"!\0#$>`Q4D)!(`1U$!3F`_!;BM?WH[M[>G
M>!NUJ8K0J"C0`*"%F0,9$)H),T!##`>)/JS`<VN/GGF.&!7P\<&!`T@;*(7T
M<<&'""<B^(0,>:TE+B<;ADC4L\*'#Q`!`CAHYDB$K)]`@PH=2K2HT:-(DRI=
MRK2ITZ=0!0600"),NJM8LVJ]&J9%UQ9(-/382C9KB;,5!KSC\^'3'U8__U<]
M4K1A"56R1%JP6!$#"9(P$OPB:4$"284`0E#=VN7H&9X=-=^4:$&Y<N4P2&2`
M`)%QA2(G+`"$4!&GS1<4$+ZTX6&B08L8+H1P=F0/7[Y5>*")@*Q(08714]J@
MN%&C3IT)"=JTF7(@1)(80JB`V$9)%RK(>=!X$&S9,A(//09W'T^>_&`D2AS\
MZ(;F@@(D,&",2!(@CZZH^//KW\^_O___`/X1`P?$)0!!`GTDD$`$##;HH(,W
MW!`!@@;V`<<`1@SWX(8<0@`!#\PAH98+_N!2BE"MX/%'+@X,,`6'$=R``@=1
MK/!&<!["X>&!$)@``!`B+-(,8R*@L@L(2?"PX_^2$$0`!P]8P$2)9T($<`81
M)GBX(((3J*%&!'W<`(<.`P`AA`BKK'B+,1;I\<<>05(A1`P`C#"%AZ@Q6,,$
M??2A90TUW##%"P.PL!D(E/"ABS\X$<&#@4T2YZ>./#"0):0*0LKDIILF@,*G
M&00@R@\N:/""&420`(,12@10@(H!QBKKK$0M<,*MMPH@%*ZWVB"+K;P&*VRP
M5`S21+!!`#5L"C_E$*RO/W5Q0A$=V&&M'1V,(04&4`TX00UJ+-AG!("6:ZZY
M?)([`7(*0C#``>&>*^^\:JRQ1ATU?#%%`P`$L(%GX.2!(F[VX1%%!B@X>&X=
M-&[P!AS$V>NE<7VT<8#_`@Z`<,\^>^11)%N<K9`$!'V67/($:T2`@P.B@)"%
M$PJ\P`$*$^`+Z`U]>EFO<5^8($$,(GQ0P!\;J-A*FZ^```0`#92&\K?K%L=G
M'WJJ07'/,&A@S2CV?2!*`1LP`('5=:B1H!H3')A`I28DP&X"7B)H\MQT]S'!
M'.O>D`$0E.`TP@A'O/$&00<H`4(LM":N^*Q0^.&XXW8(];CC8\A"P.289YXY
MLX+,@+D</RV@.10_=8"Y%[*``(4!FC]N`!1".#6@A#+2'N'MN.<>8X0,&A@!
M"ABBD$#NQ!<_''$V_QZ"#)G,(\@'L!J2XBD%.#$""E0WF#L$*KRAQ<,*]A&H
M_Y8HP/%%".^@\M:*SVSP02T;`#`!C!-"L#+`#BAQP!=P=QGN\#>XP_S"%*,%
MH>!B/_`!*XSF"E4(P@E1"`$*:K"&.82K9NNRVM2*$Z8#1:!>*)A""6+@A%6H
M9`,%$$$43)"@=D6(:EIB&\D\1+\:,N@&OD.!$:RQ`B=X8017:$`&RJ`"',@@
M`RS8P.*6R,3^-`YS)Q#83S!7!,X1XG*MR^+C<J"K/PA@<]PJA!<TQX842)$0
M<L"<!5(``D*`P`Y:G)P<NK@4;^&K2VO0F1[WR$>T&2<"=;C!N_#5QT+J+'L3
M6A"##NB!C-%$#SXX8R$>48".R&`*&>QCVE00A0^\@?\+XXK`CN3FI`$X0&CY
M`,G[H"&_>=5`E"B0`!42`0099`E,8+);U`!5L@E-J&81@($'?O`#<.BA%30!
MFP..D($V@`MM%9J:R6H0/G+M*9?(@<$9,L$/$51)!S>HP^^(`RCCE`L%E@+D
M*_?T+5>Z<T_$T1N0-@"$$2B!"B.0`0LJ4`8@"%.)30RH0)OR1#DV`2B8LX(%
M#('%.+;N!`@8!.LF!P5H$>(!FC.`!<(X"`QDS@(6:*,@0)!&A[J.CDD9$+D8
MM*ZW9>JE,'WINMSFK@QL*:8XE2DT,\4['9HR#Q_0PS9^TAB/4:`!!<IIGSBY
M@T]V29HM1<X!->""ZYBH,:__8F5.%10A6?9P``B3D"NE6;(:V,UJ$&@`T'R0
MCUO()@``.$`;OH4S2#DH?.NBFMW*QJ<%%2<!!X@!"!0Q!#148`KV"A0O=9E+
M&;9KJY#-5)@"N;>0L.``9\#`WX38`Q<0`0$`':AH1SN4@DZN",6214(76HB&
MFA2*$16$Z4Z;`T/`47-,0.D?$/`Y"R1K$*Y]K15BIY39!0IG?=(4ISA%H1F^
M:T'+C>[8XI:IWGF*`QHX90$:051'@,`!2'@1-9<K/AJM8`%<>.JZC'.<=J&@
M!$``@6U`@A$0``"R@<*!$(0`!(2MLSCFC%%R%61-X_C/3PP``AC:ZK$6B>%`
M@.HK_P0DU+L#Z3+".OL6@XR3`!.P(`^0$0(+C-`&+Y7SE1'@D]H<JZ7(1A8"
M@3+"1_(0@`S(``@A8,`(:+`$,.@``9(DK9"'_`?3NJZVJIV<0AGZ6LV=`,E_
M*`+FV/#;08!@HIF#P@+$B+D.6,"B>2BI'#M@!2O8`<N3DT*0BZ)2%-NM;G">
M6Y<@D#:PBBO.<&9G5+\UO`F@(`0QV$`CUBR(4J10`2H0:R[K%@$:96$!<.@#
MVJ(*0[69@'G%<`3\**('^\JM;A.X@7Z=```EM;-F`4ZJ@1)03GPI:'X9&*8C
MI-$B$^B(7'=,D#6IAM?BL/."Y?(2#R0@`D:L``,X4)+9+O_,TD`QB&TKQ5E>
M\5PW2(5)QHVHIQ(T>P8`E"$*%VC``H9&Y'*3ULB/&VZ2T\W:*U(1I/".M[Q!
M&ML_V`!S=K!`:@61@RP^`,J"D/+DQK#&0?1[<@8@P+QO.SD[6/$HQKU!DUI(
M;3@;J,X'&%[%Z<:@O:[KAEVZ`0_@:Q]"$^T'6NC""Q)&0(M#P+R?3``<W,8N
M"W_\@"E81<=`\`-^X,$S*[COGO>,`BRL(``',#!,,V@O`_,)CZZ&V]I&<`G:
MY&$`8KA!'GWM9E3/E$N`>I`NP]4&&+!`:-P``!SNL`8<?IQV*IX0V\*./*@-
M_>Y[[H,X]X:*%F4@!B]XPQ+LV8/_!OC+W(@?*+H?5V]"K);)IYVWY.'=>#0;
MP`M=(,3B'2<'"TARMH[3:$@'(?#'00&D0;"!`+K0!1N`/O15AC@'VM!B!`'J
M2T]]99]>:7L#X;!)-0#>`2!PASC[/EPD^Q(.A[?H"-R!]Q'@P@`*T'/<L&(/
M*P&!$"2`6.0OFN,<H``>T&NW18>O3S(*9`F:YXA34!(/(XMSC+``A`I$.D'(
MT>6!0CVVL=</01T7*#P0`VB@!2LP)QGP00JR)WJ6-]+V9F`R/[?S06FC!C?`
M`0LP!"N0!5G``AF`7"83@;E$+B)G*;278GVE+L2Q2^(B2H_E.\&W0_^R`@Y0
M`BJ@%B`0_P,2P`4R0!N)]X-+M'E^8`>Z]0>/UUKO)E)(\7I^,`8/QW":LRV#
M8`-HUGF-QX0@U01*R&\?Q5%&,2`0(#Q[A$,2LDMV8U91@TNXAW$04`=Q9C84
MZ#9?TD("MGMA1R$AX`)M\18Z!PD.$`-&,#;(T7%Q%G[C!TH#Q&C6Q`';5`"<
M<1&45`#W!6>[@P4L8`;8@T-S.#\+,C^[@T-@LFJ(9(%?```H-P0!0`(\4#^Z
MU%+E@DO(U2!J(R,H^&SP)5]'QP#W1S<?-RZO)$,W@#)YE(8KJ&%WADM=8B!6
M@P)[XP0[L`,J]`(-4`)/,`)ED`14X(-`N(V,HT5>$&1'Z&Z1M_^%1C$&"651
M*?`YF#,&="0%4_9EA,"$4!`$:W9E!F``<I"/4G!02#$@GZ(VXG,#_!,F9XB&
M[$0U9&A7;?`N$Q1G;BAQ84AG$B(WO%<S@/)2ER8"B/,6I5`++"`!2I(]%6>(
MY)>('!<A$_`%92!8]\$8KY($GU9M.*`!H!0C8\-28.(E+P<#(0`#,],[H70#
M7_)G/R`=I39*TS8NO:0];R99$M>4#1`%SK@#(,"0<-:+5/.+EO(I?9(NGS(\
M!FE6)O-2'M(G7[!#GK`#^\4",E`!.)`$5#5KW#B7L2*$0YAYCJ=D[09<2:@4
M[MAP.2!2GG-:YS@(YAAY#X=1<H0ZLF#_`Q9P`E(`;P!7%)?(`0=PF9AYF1,&
M@A?&)UR0F:`9/,M6-PQSF1EPF@>`(UV"8A:)'!ZB!A`P`D)0$=-#"WD``":P
M+F5)5G5#DHCX?7-#AC7``T\@!$*S![F1"WB@=I08(S@``'06BFL@623(`4>@
M$P'@`3``8\4'0[W'`8X(!"K0)*CQ9DO9)P;6!Y_R*1(73A;8)'PR!6<07RLP
M!$M0!FW`F2:#E<01`6W```D!FIBYF;O7BE3SF0)Z`"/`-XZ`!A+10T`P#`JT
MD719H?MAEW[@!5L8CGPYCDK1!+V%EX?Y.!:`9ODF16R`.:>'EUR8.0]@`:'5
M44$0!`B0`SFP_V5(L0,*H``40`9DL*,*0`8N\BFXI$M]`@$DX*,[&@4[2@91
M<`49(I8<!P$5X*0QP`(L0`9MV4QZIWMWY)J`H@(!0)O(>0I\T`49((@39IZ%
M*'XE"9PEPU-N:`)D\`-M80SMMYR[6#<H@`,2T(:<^#^V-P$<P``;H`4<`0(:
M,)YN8Y,T%P%S0`4.``!?@#9?"9PM54$A9`8Z0`,T$`)F8#XU\'S&`0%YB`9"
ML`.D-@5S(*5REHC]N9!`^J.S>@9M,W%=.3400`1*"J1!^A"+X#%#,`1:@*@^
M\`-"8'(6NJQ.85KX^#DX*@@<*@C!502CIQ1HY@<%]P>OUWE0J%%A)/]FC@-2
M6Y@'V>HZ=B`%#_<4]K$HNK`*&Z``+\)R8'(<.-,&2!`D*_`!'^`#8+,!4-I_
MC-8&2>`+_'JG&\`"-,`#84<RNO1J:P`!&D";D+@!`5`!;<!8'P>G)N.;Y>=R
M>U4#$+"27/,(IL``^KF??1H"_9-_!V)B"1`",V8,3N!/;="J+GA6-9,"9W``
M4'.D<K.:71(!<9`!2J``[Q`23A``,:`$#<`#6E<#%U,+'_`#[X*"5YF(Y-('
M/#``0N,-X(`'(L`"7"!Q1=J+;?`$05)):!<)R*D'+*$HW\"L=(L?SOJ7D_,`
M.S`(T_H'P76/@!NX@@LZL@"%?J!E@H!F;&#_`4:FKG]`!;T5>X(PHEDD!U;`
MCTZA"GC@#^V7!_+J)Z'H-B*;DOEJ))64G`$[FG/S.TD``M9G$1^`@/V)JY*U
M!E\P`*F`3-#@`#(P?*>6-QQ;,AYKDG-S<<DS;,,0$HW`!SO``,%K-VV``R'P
M9H.H(&CS.Q+0#"R!"5OP!8'TCSLR'#80!G"05[II85XR(6U0J`^1":F0&R+P
M`P[``DF0<5,``$)`6`%@!AH7D_NIM7S2M7*!IP$3`%P@2KB4`,>18BCP!(^@
M#VDB"/5@(BSQ"'5[P<V*<!9@!9AC`!;5M\'U6@8@)X90>HY3!+4E.A2U1NOH
M*P?W.%YF48/0!8:;_T4=T'A*T1(*D%ZL1DV-.C8H4+J:Q@K0`*6`1(DWD`3$
M\,`?``8N$`8P)HK4:;L5P`='<P]+&P(DDV+LY&9M>H@?6VUN0S5SI@(*@`S_
MTI'.2XD3$+TP`(#5&U400`,:`Q)*H`*7J0)XG,=XK`%FT"2;*'%R2'8'D&!S
ML2;MJA)+HP)EL`2#A0T#$&F)E+4C&,"X^P@=\P@8P,-WR&>PB01%%;;1\Q8=
M<U6I<`L8G,I*X:P@E:T/$$8@W&0(%P28.PB\I63)<@(:'%+B:@6UI<N(*0L"
M4,.M8P!C0(Y'`0T5_,`[/)T7"6,2IP9!'"0K\2:.8,1NR&A)+`[?H$0;\?\#
M9S`%"6)A$V(V0@D!)?`(JT"#20`Q%!9V6XMGPQN\R7@@0BF0(<`"R+"\><``
M>-;&TCL\;H-7\Z,&<-``+#!HU(,!*>"K#JT`1S`%-.,G.".R@VPQ'N`OD"#!
M>\"Y>0`$/WH!V[4""I"`@DS/`,RU`[`2;KO)9G.1K"9*GPP-GC`]]N`FN.$9
M;87*JMS31<'*-H!N,R"M>@EYLNP'&A6MA&"B%N`$B@DY%E!;'.PZGF?"KW.M
MAH`!3*A%1?`4;84;S2P^XS4^TIRO;;$!L7`*`6`$X11G$)`$8&`2(>$*\"`"
M`<`!B80@FAAJ_CD"*0$.OT`!!S!!,6(U(AM.O#G_-_,,9_6B)<BA!C40!U@P
M"HK`!WS``(E=,G40O42P(UZ208&2`',P!2-@#*=0M3^`#!<Q#Y#1KWI`!,(A
M(6'X06H3+M;I!!H($(6`"6FY`E/B39HEE#KR0J"6TETK")J+&WJPR6O03@LH
MTQ``RH@2"_S*:7]0W3N=#SZ]W4(!U'\@KG[0`=P2RT>-U!:@U(/P>@9P`L.L
ME[YB9%Z@U7)D`3A<"%3`!%O=.@3@U3S]!Q2@2.P2BL%X!TA`"44"#JU`8VR=
MV0@)`/(%`M@-5`707Q[$83#F)W[FUR'1KP%0`G"P)RVT(#B#-O+LIK\99Q*X
M@N-\,2"@!=;AS_+W!1+P_Z?HE\V]U$)),`Q-S!$^"*].4`!:X`!X'29DY6=P
M`R5@8\&&\(PH\0$&:!\'Z")/93<&\D=TAGRZEY4J350&[%=X)3[?4N!\@"9#
MH=W<?>9!X=U,D#EJ1MZ/8P=E%N=R+N<OBMX!MX[`_#@*QRPO?,(IH+CP&!0@
MT`1,0`!6<*X(MZY/\=\,\C_)->`%[C&H<'UZL-8IAL0`\(R&I@I`]0%`P+]B
M70<&\DH2^0*<H0LB,``F("F,)3Q&^L5OBF<QHB[((7$E<'9FR@"N.I8)(..E
MIF)X9@(E<)UV&E1X"J\;L!D>D#T2,DWM8@9GI^2&8")%P@CV(0(*@)])Z3N0
M??_I\Y/E6WO<LD!C7.#E7`+F-1#I9([F[,X4WIT'ABL'(%K42!AYDS=O=OX'
M>>XX5O#4CL,$&_4'5S8Y;+#FP3P4&-`$.6`!7O``9Z8Y8[!O4,'H"B@W?4;@
M!C[I];#6P2A_#DX/N1$.-N$"!\#%?]7#<(/.'_$!.`$#"1,H1KI_#"Z\)A[&
MH$9@KJB>)E`!'\&\:UQM<!#$&M`VR^?6/*`")3"?R0H+E)"<*:0$F4B0)P.;
M4V"H'_`,W;4/:_(#0%`"/##1XJ)QH?9[,0+N9B7NAD#NYOYF#*CNH]SN</_3
M&@PM*CPYP;5D]?XXUMH$*=#W?O_W?L^BA'!O#?>M("7_15`H!_Y^N!8@^$(!
M`@*@\$%``%O-!C*\Z(KDZ`D"Z1F/X!:!=!VOS0.@,6O2#WF`J"Q@`APTT*SF
M/U]0`44R!$M#9Q-P!]8K3OLW'"4.QL0K9PG2BOCB)X%%#"AK<4&/!`'0`/E9
MEA9G(#."!&?@`%KP#;J!"EL@:3CS?6`"`1DPL?R0"D1E"B:R(B*@`3SP];Q&
MT(ID86'GBUL^[EU.+E_>]@;^]G%__T#AW8*P^.`-"%86?X2%!'Z(B$46((6.
MCY".B8AR!I-V%CF%7I,&=I-^%HR/("DY"%X$`I%Y*38=H'*CD;2UA!0)$1%J
M"0E]?0DW$W=(&WDB!7EX>WMZ_P%&PK_2TA%W`S\%>GIYW"L?0@P\-1,1$,`)
MXQ,37P!Y'P5D8A-K-VH0$VH3$`EJ-QQ<TP+VX4`!SP*`Y`3^4J>NC[H:=6K4
M@[`E0!X]#"(H!`;A"Q8'1Z:<V]@'0H0)$;_$*:-APP8\>38X*>!DQ`U=NJ9%
MN`%!`A`M?S;PJ<5-&[=D+!I`0*%&%X1])_N@X,)AG[`:&OM$J-&'QP!:>0)P
MR56CE\,^XVH4.X;'EMNW<./*G4NWKMV[=Z%TLF"C4`I0@`5!.C1I42.\GP`G
M6M2DD`!0EA+)"@+)"B@IMA#$LK`*[R-<6">8!2:,F#%DRI@Y,Q)U8XT!:'SX
M^#!DQ_^*'T[(<!"6X*FT<4VGD-$R)(!27KT8]MYJ`L`!73<%$C2(,*O`"35J
MY)N@=:OH!&U*.!C2@Z3&.UA^N`C#5`U)AA)OW$`Q!T>,'Q]B\G%BA&2P-F?@
MX<,?>[15BS9Z[/&!#P&0@((Z^?36RX0\,&"&5K]@]<M677W%BEADF<5=6FN)
M8*!G**:HXHHLMDB+7HD8P)<C#RB6B&"/$+;8+'?5:&,H%E#A2&2*=3#C(V.`
MPD9?M.2P60HL@G;2:,$,4V(RRS3S3#0*[00`,@44,(0>*P"A@(/J/&5.AN,D
MH`(+'[@`P!0)Z+./.A/.%P(9S^UDG333'>30G]/(EUU#(IK_XP\93E3@2Y?#
M8(&&$!J8``%7KBV$779J3*&#`B#D`0((#AQ@7E<Q%/`!@2="8A0W:(APA@GX
M;#=A+T^IH,"%7*&3%8=>@07B5B*BA5V)K;JH[++,-KLBC(C(R"0A&,CQ(XZ.
MZ*@(CW;-\.-DC[#Q(V.0,`$9$T)&`BTE%C2VHI3?_5*E:<=@J=HSK0FT4Q(.
M`.&OOS$`T,`4$<S1FTEGX03!"PZ`H,`!YAQ<YW?VF'!&#"I`1^A`!0F:D$+@
MH7##.".)IE4")03`P)H*18H-$$C$D<M&6:FQ73\)\-#`&0X(,803`-&L!@\!
MZ%'`']H<N`TW(`00PL0,3;/4%!4$_V`&=AG^RE6P'XY%K"\C'GM:LLZ6;?;9
M:*\K[2/K@H*M(:`8YAD(1"IY9"%)*F8`%)Q!\A@H'4`)2;6`MQNEK_&29N5I
M]N[QQY;<;93``0TT8(81*HA!!P]?:(1K!&!CM1,'1S1=`AU]N#=AY#9/@80#
M+/0974"!5K>1&6GPL"FF#6W*`PT2/*J0&G?@(,0*959`,,T:X7,R"E*UP0,`
M`?P\!TF_$,T-TMM'@N`V#E3`@^?2-*05!&'X>_5O6G<HK-=E@6VL6F.C;?_]
M^+.H]MV%U#W)VX30EA_DYIG$`&81@BN$!6PD"P0((1(&3$0'NO"(5QS0`@E,
M$;RH5)HKI?]&2P?@DD+FT(8VR`<%3ZF#"I$3C-0Y1'0W,$,`T!"%.$`@(NF8
M4!_6L(8#:``$;@BAGZ33,=LIQ`P:X``*TI(."$$D`2:0`,L"DH`YH$`"3EC!
M$*@0`!@(+R#<.=A2K(*2"4PA"4/(`QQ(T@\>7,$EW'.<TG;``A7LXU8.@<\4
MCB`$#%QM8AK2RM8\!(FPP*]8)*I?_A;)R$;:8G_3*H2W%`/`/PCP1XH90RU\
M!)@36(""CL"`C=C`/T<T@8$/&`,;K`48`S#ADX<+#0<75Z\/KD:$V&M9&1EB
M#Y%%8`H#``$+,A"-/T%@#OF`PP"<(((8R&YCM1N43J"3@0`D01S_:U#=%S42
M`0Z8YP9?P`$VEO$'(##`4KJ``UDT<@-!HL1F)=G'%!AP!9&0Y`8\4,`.LK`'
M)PP%+'G@@PB`$()YS*X[-YD`#RI`A3*9H09W,%3[N%;(8<7O+(EDBR,WRE%&
M0C(2E@G,('*$R9)JDA:<:*4H\@`)5L8-@[4(:4D!\X"5QG)*CYJ7![.TFGSE
M\CK9X1TY=H&"$"P!9@C+"36:`H$&8``$3HC=30X*J")*DQK4#``+='"2<=Q@
MFSOI0SLW,@$4X,`!W'!<'C`@@Q=8REC<F8!\<E+&>"8`!2I@@#=I5H,V#&`#
M*]B#,8A2`#XX(`DBD:MUL,/8!K!`"!^P_UHN=!%(8!'R$88,D?PR:J*.>O:S
M9?LH)&Q`R9%F:Z;7@N5H%8,)351&,5Y0;20$X%+4^L%(AKMIXG3*.%M"[J?7
MV=2?#M4'%9S!"0JP8UG#6KX:0*`Y(/B`"&*G,2)2YZH;RJH#8N!-QD8NNPMY
MCUG1R@T\B$D(YK2C6.6*'6XV3S1/T4@;#K!7UZ"@`@XH`$PN0@L\2!=C#Y)/
M^=30)A0,P`$B8)`9;E790;Y/LQ@5FT9!2^$*JTBTD!"7VTP+-]N*%)2/$()B
M:AK)0DA!,:(X#"U24-N2VD$*%@B"BE6TP9QVL+<\Q==W@:NI[F1G0U(QP3(#
M\`*3Z*(?T^`.#_\D$`#93#=C0Z2=53^6W9U4<U0`V`?)="(?`4O.K$+`@YC#
M-`12.2``%<C`%)Y2CX8@#+[H<"XZW@,Z&"C@`Q]`$"U4!802B(,G;`+.!-K0
M@`!LH``*9O!$+^N(S'XMPO2;L(4G36FY8/@15/!?)2_I84&`^!$M]@.,.P,)
M_X'++5WH@/]:65-1D/I=B)LEO5"3I<=!8\<\SH<@5:B."*#@``,`@A.4H#NM
M>%EJND+#!7SP`^I&>1K1I')WK&R1,A$!`C;[TTZ$,5:!]`+,[Q!S3+C!C0TL
MX0CG-"%#Z"HA`@=C#221B!D!L"`]%X*E1T&##.*P"U^O\R3E4($,`#O_!"T`
MP0Q/6>>&'-PU"(<MTIVMM,0G'@D;$.`!&"=Q+1"0<8P3@,.$R,'%.T[RDG?\
MXY]V!!/&T/%%4(86)RA"Q\=02EI0P0)%J`1D[,`W4?3-1366UXUKF>,0XAJX
M[D'+"GG1!A.0805">%BW%0*!.#!`V#*!G:E($FUM9]4=>GB8>Z;(XSK<X*SO
MR,,>P*YV1#-[`VBFD_-V\ITYCX9Y:O@"#(!0`.3IH=%_8%H`#O`@%98$+;H@
MQWV!X``G."$L9A#9';*SZ`<_^N'(HKCF-_^''/B\YHX0P.=%00L$C/[TJ/=Y
MRAM]>M?20O2C=]=;0-"$U']^`>D">JQM3$M:_]_KUCQ.<H9XC0(>P&``5-!"
M`$I0)PQUB0MF"('T82#]H&VDZ].T,@8._0$',``.*/@BCVM@5A>D/0\[P+/Z
MPQ2FL`#`#&W@!S`N6@Y<?;,?0D;K"OY.B+1RHU$\T!UUH`];T41J``-IH`-$
M0`0*Z$USU6#NTW"7-S^9QWD62&E=(``:*``88`MYD($;^&J.`((A6((F&((/
M5`LFV(%$88*Y!Q="(`!-8`,Y4(,Y8`--(``IN"Q!ISBSUC@]=70_%3D0H0\J
M\`0Q``1E-@`F`$_O`0Q?@`)2.!]39UT>XW7:EP=A,ETPL`_!MR'SP60N\"]4
M\"\N0`6B<@PQX0`:8/\&=-!\=9`<]:</YM$0;9`!"O!X+-5_Y)8'"L`!7Z!8
MP84=*!"%4AB%*H0".P&!%(59%H5($A9Q%SB)E%B)%MB#O$5TOX=+/$:$964&
M5^`"0I`'0O`,3"$1YD%9$#&`&R-EUR5M.'$#U=1^!2`$W/6%&R*%9B`!O-B+
M+="+2*``Y`4"*]`T1Q`'#]('<8@H^$!V.J%K'0$#"+:'@4=N&%`"'8$/RV$^
M+W02Y-!K6V%V$K5P$5A1A[19D4@VEKB.[-B.C82)0^=[6L(:0HA5\O(HW)%X
M7V`&&*`%6E``:+9&(T(2'<%FMR)^KGB%V2>+`8!G3O`#6N`"%0`'?W)W-`/_
M7_N@!G``!^90!VK@5_J7!UHT4`WP(-C!#V&D!O#6?,[W&TUQ`W?``SW``ANP
M=DL3$TP@!KW"$=CV7;ZFB&6A)O<@5R/#B(QV;X^(CA"GCN[8E$[YE"T"C[W7
M.+;&B=-@,+S1&U@#.F:1`%7S`4`P)^;31`Q1EF89-=B#?5A%;7]P-,:0!U30
M`&)5#_:0D6SD"\YU*0/(%2H)`0R@A]UP`1<P`,?43NO692B0`2$P,L!@,W=D
M%@`'`QH`!")9<$Z@`80''$F'#W5WD'`E.CEAE)9W49BG2%!YFJB9FG0AE3_H
M6T8G7BAP![Q@#IC2F'*E`@/03!D`/>5SEKYIEKFD_Y95QI!M&10!E0=G`#$.
M@1RY)!IXX@MU@!9U8@\ZD%\[,&YQ,@#\`#7&UF4-``!PX)$L>9#M=!(94#5.
M``(,TH7-HVOD\YMGB1.41XZ-V&A)"6D5J)KZN9_\^0>LN5.;6(^Z``,V-)LH
MV9MJD)AD(#Z\^5ZX&)Q3AH7$>33^YP`2H#O>U1OQQ@_:-")@<P,'0)E:]']`
M0`)5)`P-@1/E,`(Q$`(FF1R="600,`5F4`$>$`7A,`?QTEZ^H4(^ZJ-<H53-
M57D22)H4:)K]F:1*VH[_B6._YU,!$0$`<*$XQ0N,92N):2ES=Q8/FI81NI#5
M5)S&$"K3A7!-I*%=HA$V$_\OZ)`<77$$#K`"_PA59S`%3(&BW'$3V7$#!)`;
M<N>F78DAH--+4V`"R,A">(D5%LEE;!9>B$>?1]E_]UF:DK:DEGJIG->DFCB/
M5IE=`\`"(?`%$;&=FW(.&A%^4?->RG&0>`0,]5A5KRBA84JAY,8'+C``'.`=
M',$\>11&O1`_V`$!*L`H6O`#VY4!7Y`+9=D=A)@"*^``88`ZH*-M-^$YF]*9
M7*EE/Z:BW,H34DAVHEFDD+B4F%JNYEIIFBJ/0>@?N:D!&5"`!^H47E@KNI9'
MK'JOK.JEL0JF`5"<S,`J/Q``$J"(NC`S9/55,S,A91&.^M``#*``"C``,"`R
M+Y3_JEOQ:RL0)@^S%`G0.50D(KXZ,0,H(2BA':TH#538:WI*I.;H<$=:J><:
MLS+[CKLG=%/Y054IH!`P`&!PJ[DZJ.?`$[Y!KY'3:Q/"E?AZM/JJD&LYH03B
M.`7R`\U&>/*!D%B5`&90%0Z!EQI1A/8P!0>0`1P`!TVD%2FJ"U^`!.D7D4PX
M1E7X1?*1<"@QLG>T;5UVMUXV'_<P=KX"J:,YKODYLX([N&>3KD`X>)VJ%0:&
M!D/@?3P``5DY6<FA0[V9"PC+K3C1"WYRLK\@G-/FM/^Z=J@!`"8`/5`Z#7<E
M`2'0!MH19UQQ*$TA5EF1#ERQMT,%`3Q``3L0)H85#DLA_Z2^<"ORV3MU!PP\
MH`('D+S*N[S)B[QC@1SAVK(3R%E,2;C6>[TH8KB^!7P;<0,#X#,B0&1MH(P*
M&U=U>7?8<;<B@[>(N;Z<RS'[VK2S^K0$XA)BAE0$5H73\)$X,`!3H!V"M*<"
M-E2<\JL18;MQVP!:"`)\@!0O$(C5>H^K<RC.8RS`\`MW>`9DL,$<W,$<K`$A
M,$9]*TCEZ(CGB)](BKTJO,)TH0<4X!!9B;*]!Q/+<!&_U24H```@,`3?P`)=
M&(?S6BL28["^Q@'2=\1(G,1FP`7Z2PT$40""TI*?6TW*\+3,,&X%X#`'P&ML
MU`8X<`4A``?NX1U$V4ZMRQT)!_\1<J9K('H$/!P3T>4$`4`$=/(K0/80$.(>
M&H*7-Q`'!\9,(A#(@BP"6I@,0)`&BB@_P&!9[R-(5&*RQ2!0U<O"E%S)A>#"
M.V0.ND8.-X0"2(`:+(4'1O$,3P&?KP$"(K`!Q*@`1D"P\66;B+(/3V%UCQ=8
M:N<XVE``QK`#'F`"WGB66$$0/O`&!$-W\$%YU;0!?]`6_VI>S*#+26`"J8.O
M:.'%:!``9;`ZOII'<8B/\"%&-P`'`.`$%R!FYAP32]`#W@01DW<'\DEU/0H'
M6$`%.\!_D+!VRN`$B!Q6\#0Q.1.I@2<6K%A&9E$'GDS(@V7)"KW0A?#"])`Z
M"5'*7_#_!"+P`?NWS-PS>.9@RM>@RQO0?0#@3:W!E4F&)Q`P`BR07\E@#+AL
M7H2L![W<JV89$<*L`5-`O'B<'1FP?1C=S!]PQ=-5`E]`ELOJ:S@0*W.";<15
MN6%49;U@,U_@6.Y@SN+F>`([!:):!VO`%0=5EHI:)R#*`NAGSX64SVD0?W>B
M.GA2GTC)!0.XG!A95I^<#-3(T':]PBZ,`@8=O#?1&VO@R?BQ`SN`-*-L*DG7
M)1T=4/GA```0!R;$DR;Q@')UAS&`8&$B6'UH-,K`![U\LMPAS,3,C4`F5LG<
MTXXC9LRP!P7@`L[T!?%V=N8'!!6@`DLT@+'\F,*3>"KT!2%`_P$K@`<B4`C[
M%1-.``1G4`8FI!T"=K2Q6,#`=)QR!`EXP`?*X`!IX(74@#"X"]`%@`%3,*J^
M0-()B@38D#1W?=[8FP<4H-<(.S,$]M?D_0-IA2!A<0#R1S,=;0R%U30,0`<1
M`S;?I0XHX,?,%%TKG=G3'2:]7)M@-!!-X`,V7<'4\`NRR-/,?-JHW99H("=Q
M`)]U$`$2X`(^<,VXFE"<>3"]69;T,`4A$``@8!L[\*_5.&Y0%0,2<`!MT)-H
M>3*Y$!%P0`,.@`>A$MV/8%[<8-TWP,5HW$[@`=!\T`5N?5'+J9(W$-_=P\)-
M0`!:ON5<SN4G@``VL(,JV.5D7N9;[O]ZCM'E)W`7(F?F;K[E<I$"9+YZ<8$!
M7F`'=>,)!,""MB#G;_[F=(X7ZMT&?#M92I>V+O`#+%T(>T#*DX6YY1!,URDJ
M?2=,H;HZ'HDUY-`&(V`184;7QB!NN5P`(M#+U8JYP%#3-UUE*EKA3B!F]+L-
MYF5><1(`-@$VW$H.$N``>"8"3I`$&9#C5-)\Q/L+*#`%)5#911'CT5VK[><`
M9S`"EF(2Z2#!]9"8"B`4Y;5G^;$'UJW7\UD.$>-78,$")@#>"0L1*$`"B2X"
M1*[")^!AB6`'3)`9\@X*)^4(FG$)=Y$W]XX(<L%)B0`%=4$%#[!J@!/HA+#O
M_^X')88B&T#_`70BE$_!`U+8!D_@`(JN=HS^##SPN!2O)M.S`M>)((CF`&2@
M9FHR(4*9`3^D#*C-#.:L#2Y=ZB:0XR$/`1RI`@7A`6N6\VJRTX\GRO^Z#:HB
M9N^0&\'^%"540A6/!:'"!WR`!VRH`P?PN*%SF!"0XR8``PP0`"+P`X3\!X,M
MW>:E7P$M`S30`/^@)B@4#/-Q1D'^S$S9?MY>`FW`D2C$]'D_HP"]`>:NMT+)
M`VV``A@O!*%2U_#>\`/T@OK.^`.T`(_`\)20@W7A[__>!!FT8JPE>W#!8K8E
M!YA1>I#/!)Z/(GG``EOP`JS?^J[_`@C`!R2_`O;9`SKP^J^O`QZ0__@F[P,#
M)0,E@/NN/\Y:<!'\)_-B1O/)P`<*\`3"[_I/T`5:D`+!__RLWP-`$.H)@LM&
M@V?#[00`8/VPOP+<,/5Y(,<>L`5L#[E358@\8`)EH`,`P`)`X`)JV-+)0M5\
M6-PL``A'2B\C90<J!P<9#3@L('A[>Q]X?Y66E7A\>7].22^?H*`Z+R4:EY=Y
M`5NAK)\#.RL[.Z>TM;:WN+FZN[R\)W[`P<+#Q&.V",3)RE9!I\C"<A9-O99C
MRM?"%C:Z7LI,5+Q==MC$!@O'Y-A0S=2XL$X.0B!.]/#P#DXK*WHKE9$K>8``
M<;*AH$&#0$#$RJ-'SQ\\'PJ`,"BBXL$-3O]$%/B0)Q(M/'CR\"F0!X0(>A<-
MVBMP`<V&>2E5$LQ#R:,E/`7P-(3E`./)@_3VY=E`4\\[!P&.Z&B0P4B&,B-P
MR&"!3PO)/)MJ1J1T$^2>2CLWFA2!E`4%,C%8`,&WB6%.6WJP_BD@T`&^#78K
MTG,!PE8!+3WGU<N+3X@^?>T2*U[,V%<Z;.=H/7M,C)FS8=&FM;-&F9@V71V4
M/="LJTCG8!VZU)I\&MBZQJ?R[,@CXL.0A1]$Y/GQ0^'L67_^8:W=L'CQW4/B
M;L`S6\3$#;KU%"CP`RN?D14M8OUJ:0_#/-.Q%HANO/AX)R!RYP'(L'Q#LD09
M>L39$"3#%5DJ6K__KFF%$/`BC%0`/W&)\`,:0MA55ST5%7`;+"!I]=9\D.Q1
M'E;KL3=40;S]M\%QF]1BE%MYH`<""`5`]X%5%7'U48IZ?,#/"B;ED=L&L,Q6
M`&P\]NAC+K^T)DP'`D@F9#"67<*:'YDEQMF1G^%"Q34&Y+!+'@80(\<#!!!@
M19;%A*CDD:XUPU!-[95G'TU?Z>$=AACRT=M"!6@R'@BS:?+F!D.`@-4D.4U'
MGUBS@3<1G%A%J(E(U!E(CV[Q?2=>HY-B%1<?.`E:HG-$79IIHGJ$Y$1'.F$8
MWE#B#5%GG8BN5Y*@.)4D7D2!?K"#3G&!("!`GX8Z74XC-33@'PW)UA&&_\5Y
M!1Y',Q6:**ZXPDDC'RM,%U$>/GP0$1^ZZ;BHA;/%&.V?5^U0H$B(AOH'>!@N
M%Y=-/\8K;R5!(FG!O?@R<0(4;"3#A)B5+!D-O@07C"\[E@@LC9/#6&'PP_AN
M@XL4V!``3BXY#&.`%P:;-HP=I"7<,,00-_-A`6_NQ"YX)&T$4JBH8K7!0R<Q
MI"-(*+E<(A]._*"?;B1M^\$>IQ8KPH?%POG>>#^`(8(/>^PPX#P[B$!C01OE
MYD2$6,UV\E9N76?LLAQ9BFA.)6Y`W7BZ[0;&)%Y%$@EU&^SQLG5^0N<G>#Z`
M(5U<=-NXPP:8IEBMCB555U)(+&.T;J>S72O+4/\.K"""'J/6^N=V[:K-Z@=.
M@['"M;*ML($/5@.D\E4VVW@52(M:C>/@4N/A!$D[P(/V=?/V_F.]P#B,0`[$
M%Y]#$!X+,T:18T)C01#&1R_]9<Z'S,N3P5LPO/3<6W_*!E9@TX'WM$`Q#!3W
MYI""`!ATD<(#&@<!\!]+.LS]_=NTMP=1:\I=4]9;V8I$'``1;:EJ*#CYGP^R
ME8D/;.`'D_B`#YPPB9/49G_UV8F%C**<C/"!'Q*TEHWF0BR,[,`!>HB/N61&
MD_%\"(.9.%8'XZ.V#_B,5'Q`$4BT-2`]^.`""_R!)E#2';EYIR`V.:*YRB,+
M,/R!5DTC7`$&UQ8GI+#_6;?:GT9D5C=*6$HY1^/'#O8`CZKA(4#V01F&Y"82
M/A@Q1_O(PF$:T@\?X.$V(`E.)(C"G1C)""=@P]'LZO8A8^7.`1^HA+9\QTC8
M`,\/#E/-*4`@A"[(81@/B(S(G)>"Q2B,?+G`'B0M($G8V`!,P+BD,`P0A+[@
M@@##N-<"7&D)&Q"#"<S;I+TP0`V'8"(3FG@(L7P9M_W5HR!#N<>HBN4$[S3+
M@:.:2=V\8\=9%64GYB+6"E"'$J*(``SX0$DSU4:LKEF1#Q]P`1C>ADR<'`UV
MTK$/!_]0-^E,T3WOVB-1'C?-J,E"%J?@6J>(>1YZ6.IEN)I<W7PP13@-:(,2
M__PA)>+YQ9S@89TB..(&U@F&1>W@`J#;2J@,4A3QV'%_X8&$;GBHFY/\P`%O
MXTTDAN)"G/@#(_2PBQMMA,<4\>%TO.'-!:I#CT8:53&/C.0M0B.,!^0`8`KK
MI&(^R3!A*)5'R0-&$5#IFES:`I;*0]@I#$!6`\A!#E*0F"ZSQ\M>7&4NC'-9
MLH3%D8@\L&U_XDU$9H25:K7P*BW;SG(^H(D0;H"'I=H-0R+X0VTQ5!\H(HEW
M=A07K/@@A5A1R$)6>*H/4I2#U[(GAL;%,H>*1%N8XF%Q'@*2C9!D`]4R3YT<
MFZWI=`J0X[%3`0#2'!]TA'4;Z4ANIK/$UJ*H=+*HEO]$I):'"[BS/8S[ZZ0V
MLJC25JI0`-DMKVSK@Q\<EJ%GRVW05C"$LB$*%K?!T%'7VXNDDG*IF`S"Q0*&
M&0M(-3%4W<S(2MD850;C!%GU0P?4:HMNG.\6`BB8E9JW2VJ<)"\V,PEZE".;
M`OC@@;:SB"![`X(;#F$(!!G"29P@A)^4KD0.`()&?(*&>?S`P@S%BPO@02,7
M7,`%>CW)//1#$RT8RSD^."%;3G2/M?A,F>"IK"SLJLR,8(@@**("7AR0'0?\
M8,;+>JU!0^(@$-A%+#/)@P-<X`(T0+"@+!)!@G3#LUCD3IV/*L@^<J<V)[]$
M#SI>04X3E#?G#,&[+B%+.//_1AN]@"`_0G`:1AP``C0HLR(GS`>4YV$C/8,A
M01^X@!;"3.(U.\W/8+A'BN]"9`?D00CL3360]GL+KOJ!`$%H*WTYZ<GZ@A(7
MHKQJ8YI07R80XP3S.X4MM30&65L"`\2SP0*:<-]9-[@7`5!""9!PAH2L0`%)
M4`!Z/."!?!2@"TE@@0)Z@(4>`"`&0AA`#]9];B%HP04``,`2DM"#"E2@!^&>
MP5HTT(,7X,`#5,```*H-`G!OTP=H&'<)L*`!*BC`WO=.`@;470$E`(`%,UB`
MA8&0!`K(0`87F'@)2H``M0``XA5X@Q!D@(,25"`&5*@:,K4%A)/;NP<S8,&Z
MUZT$_Q>P0`DZ>,(`:H[R)`C@`R;!-@`PD&<W,,`#\J@Y`!R``(CW8`&TH4`2
M`C#4GY?@"3(`PA*6CI4!3(4!]U;"``*`@1GLO`<*T(`28K`;!2AA`4"X=[U[
M`(0!)"$>2U#"N.M][P'(@^I1B#89'*`%#P!`"#'H=P_.L`1[,V#=2="`WI,0
M=FY73>`8.$,%NO!#"L"=!?=.^P62,/4?Q$`)42!\!;`@@P``X.L`4("J=U\+
M]_+7$GD(L!^D(%\&IQ)]-DB^\I>??&.OE4D+T^^0H(``YEN?P%_%I`5RP-1@
M/,"KM?`O,>Q0A!,T&Q=+8@,4<G!]YE\""V*`0094(`,JZ/^!`3P`0`"<T`()
M(!(,9)`!1P``<:`"*D`'%0`$(\`!!\`!<4`#+"`$+*`"1J`!#7``)A`'!]``
M1V`$"L`"1F`"(7``1N`!+-``#4`&.V`#&:`/!8`!):`"+Z`"#1`#^(<(-*@`
M#6`"A\`#%3`"3^`$8*``1C``+T`":```8E`&.U@!5["#B<`!6V<$1C`"8A"$
M)3$$'/(!+#"#)L`%!P`#1S`%B:`(+,``<0`#9J`"9#"#7``'!U`&&A`?+V`"
M8C!T/9$'&F`":0`$&Z``*I`!5S`"/-B`?^<`)2`&,N`">3<%(3!_"N`!91`#
MIA8"1*`!!MB`4W!NA]"`]%<!=`#_`+O!`%/``%>``AR0B@=P!2%0!3$`!!IP
MASUH`C+8$P'P`MD6!R$0`&B``QEPBV*0!@T8@`=0!V`(`Q4P`2K``29@`F1`
M`BU0(@*0`3&`!'0@`WF``3A0!0-P!!J8"&5P`1BH%C)@`@#`@*BH`D@``%P`
M`PT0!Q7`>_)H"8_$!B=@`RF0CTU@`SDP`_`S#!VP?5!5#F55D`9I``BP&K96
M5:MTD`Z9"Q@P#L%@`$Q@`0)@/M#P5*^4#G)@!3/@?$:B,0YYD)<0!V%WBV,`
M#V60`400``X@`3V`8P6@``<@`P,P`E<0`!+0``$0`@"P%AZ@`@O@!#)@@&?@
M!`%0`31@_Q<>8`0Q(`%EH``"T0`CH(,'X'\I<`#.%`-B<`0!$`-&(`,`T`!`
M,&,^!P,>8!<#T``#<``",0!&<(MA$`,J4`$II@1L$`,C,'2\(0(R``-D<`5K
MB0$OX7`:``1H@&+U!@(78`-EL`1KD6(-H`0!<(L]YP"W%P`N,&8.<`4J,``2
M@`4U\X>IR`(;,``<8`8!,`(`8`\H,H$9H`,;$``-(`-7<`6X:(&4N`$A0`(:
MP`$Q`$Z>$`-R"`0?@!0,``%$L`,_$`)<D`2>F99EY@1$$`<O$`![^(I`8`8,
M4)9#<8NYR`$#(`(X4`9D8`)G\)5&8`$I%@)(X`(B```J$`!`,/^(LR<!F.,&
M9A`#)``'_A<`9C`%9A>5]*"9&6`"$@`$9V`"`;`"GCD`\/``)>"2)=``\SB/
MC]0:)Q!]S]<9,S!?S]<DTB<D5`"BI^!KPF`'SY,'O#8,4@"2I]`OCX&0P=:A
ME%&BE<"3+<$"*>`$GID$&;``&[!N.)8'-.EX,'`%"A`"(0`$/DF?'1@%+N!R
M(=`#/Y!W).!ECDD&;+D66C```M@`#!"5"I`!:@,&=$D#,8"=8V<&MWD%0*``
M,%![MM<`%)`!.>`$,%`"0'"$,L`!9-`2&*``@P@`.7D%3A"4IA@`"N`G3G`$
MRS@`#D`20E!O3H`&DKBF]*F`#9">`N#_""#@"0'`86#@`B]@!@?@`5I0&R"@
M`&:0`0BP`TA`!)/(FF]J10!0!@Q@`J$&`S"@`4JZ!![0`"SP`ROP`I<(G/4I
M`2]P@D>0DRY9`;[J!BY@!F:@!%=P`,^:DPX0`CJ@`AZPARGP30<``.LT'>!)
MEPPP`@+0`V40!2H0`F00`%'0!5D``B'P!#BF!`=`G\29!.56+?JI`"T``R&`
M`11@K0,P`.99F4"0!V;0`A48BP&P`P'PF4[0IV8`K.)VH?*8H9WQ`/?B?$O2
M&01@`2$9#")*#:+4&=MW"^$C#$40)>+G!T5P:Y60!]V7#AU`2]0C)%%"!$\C
M8B=R>U=0!CBP_P$X@`4<1@$'H`$#$`=B(`8^J(!Q$`=5P`,,@`%1D`%D,)8N
MV0-A@`<;(`-&0`8>"`):,`1E>@3F^01/L`!:62TN8+95(`82,'9T@+55,`8L
M``-5$+C<Z`"?$`,F(`-.\`)AD`1F4*Q()P2TR0,\<+<RX``]H`)58(XMY@1/
MT`9PH`,!H%T]P``OH0&3&[@CX`)D,`*!2ZP5`708(!$K@`9_2P<EH`#C^F()
MRZPQT`!@R[J!*P9Y^@(,<`0'H'(44`:HRP(+,(E@@`;(BHE8*[F!:01\JP)-
M4`$2,`(R<`8OD`;0R0-3$+AET)Q$H`1&L*`*\`%H4*X;(1T]F6TJ</^T/5">
ML*B\8@"Z0Y&O(#`$```'8A"X''`%3]`")S*-`D`")/"N2O`$;'D$>QNX+S`$
M&7![M6D"`K`"`6`"XTD%,?`"@9L!`^"QO`>RCS&S+_NSK7&R*9M*'-H++4L9
M*5P+KB8%%ED)*#J18F4+0@`%KG8-;`"C)2O#$@,#+B`/'C`#3C`"BZ`"9O"2
M/<!H1BJ`#,MM8QH%([`%\:8#(X!Z)H""XEFI)(`5'I`!"E`&1T`%+78&&6"!
M9&"!27``&<(",K``,E`!4@@`&?!Q,O"!,"`!`)`$O4D%0)H$3BD$?JH""K`"
M'BP%>BD!?+P$"D`&;S``)&`$CI`'`]",2C#_*@PQNK11QGP<!4#@`60@EHQ`
M!2N0!#J``;.A9T\``PR0`3"`!52V`PD+QWM9!JLI%=U;F338A%3@`13@`4K0
M`!4PK#&`!B(P`FF@`0=0`7XGID?+`!]7;0R`!#T@`1*@!&F`K2I@S3+@`7D0
M`B4@`$8@`2:@`%-4KL&$!U1`!/*;=T9``Y/H`5%PQP>@!`5!!$@``GJ0!!P0
M;SU0DU@@`2*P`RQ`C0K\`@#P`FLI`QT(`!\7!5E@!@/0E!5@`EV0C>()`E0@
M`U%P!@#@CB2\>R9,)>J7/B9*/V3"PBH,?3AK"S'\&#-\"C-07Q:`:G]`!:Y6
M;+H``D'P`#4K&L$V_\0V+3$F<)@*.`+JJ@1;`)S<#`0N29-'<),8``1HJP&L
MZ64:4($C``-*P+@E8+DD<*DR8,:K0(D!L!1<2@%3J@A"^`%FJP!"``1E@`6Y
MNG]K$0!S"@(N,``P$*>+\`1C]@(TH`#FF+$5X(&L*1!'K`1AP'5T20$T8GM)
ML`3Q40"C2Q0+P),*P@(CX`$70`4,T``8T`DMN1M>5@9+5P$0,``_T%VN2ILP
M@`,,6ZA4``0E>@9&H`1*4`'[V0!2>@$5$`)63=5&4`&_B6X.D`03V@`:,&9`
M(`39?`098`91<+[1"0]`@`=$P*=QS`6+[`05O`=\\!`8(,]TN01=&(=P^?^*
MM+D%Z.'/0K`#`HT1"DAO+>D`,E`&+-`"\MP``&X&'Q>5=A$`$#MT_,H!7?`!
M`2">2&$$23`0@GW2JI;2R=`!&\K2"KE*5A#B(C[B([ZA+2S3#)E*)+[B(G[3
ME_"/]K)@E;"S`C;3E0`"36`!7F('/SR1V.?2T,#B*RZR$C,"Y;H%)G`$%=``
M0H`&O9L$$F`&-$`#D)P!)'T`4\X!23H",_!B\`J70Y<'2C"?$C#&*V"VXA8'
M9@``.L#!)]BH,9`!!P!4,1"&`"`!7""6?#CE+U>;NR6)+*`*<+``SH'8#O`$
M)E`!NXH%5^"K:3#E"/";)5#2O]AA>!!9B[("]5;_$![``320!FF``TLP@@#`
M``>0!%0@`H*,`25!2250KC#`!0U@?WD0@`&``R:9VPT0`H].`P.P!1+0H$*P
MSJ2>!"H``"Z@"`!`!"IP!F?``2QP`9K\`E?`DC2P!4C@`15``A/(`0Y``M`9
M!T00!H^.`7N*`0[0`#R@`)A3KF9#!2^@!"P@!D#0!88;E2I0!@.`ZQ"*KT]`
M%$K``:\\`@RPASYI`B5`!25``@K``PW@`##0C2K0ZU@0`!DP`UX6@@^.`1Q<
M(C'(>EJ.X:GF7B=``&SPP_8#?L8'?21C,">^LC`\,BU/,#)^"2E0LV-``">`
M`#R/`#`.#`9@`3Z+"WF0_P(Y<"]CP./)4`0D*_,S?R\2$P-;D-WU%\@M%M@(
M,``E`.I;X`%Y^P8ZL`7`3@%"D`0>4!$L('1*L`0_H`44\`1+8),_L`,"@`5+
M<`%G$`+66G]`(.]"D&X2T!\@H`%$$(8#0`5DH`/7'NH8P``40!.1EP*86@%N
M0!!J-P08(-P5S`(NX,V@3@25.Y9F$`)IF="7[B<C\5-F5RTID`;C3@-/P*@T
M<`!F4`%WOP$>@.H`02,*H`,PL`5G\`2-^@.HYP1OT`,L$`-8T/=IL`5IX).9
MQVA.4`$+H`!ID-T5$`!4`/:+<`8>G/VZ008)B`.@K@.@+Y88D`2H3M%`H`-I
M@/\$8?`"`@<`>H`!,J`#+$`06T`&E@((!0X`&AA/#B!.2CTN&D0',`Q`("``
M`)1G-$-Y'P!)0$EF&20*0Y94.``7%0H*+VDD.A)=%61Y?#);5#Y4)0I:0RP2
MHEMG?\?(R<K+S,W.S]#1SR=^U=56%MD63`;6UF/0"-Y^<A8+&.CIZNK+XM[E
M3=+*8^/8*>OXZ%3,!./^_]4(")"'#(2`'$$L//#7`8$R=]:P"<B';Q_!BQ@S
M:MS(L:/'CR!#BAQ)LJ1)9]2\8>OR!P05B-Z@/(-)SD**C33A9:2GT@++C78`
M"K5FQ\8R#$&@C+'280&S/!A26!E7SN(QFM@PG-S*M:O_UZ]@PXH=2[99RH@^
MDWGQ9\!HLYPV<5*U$`\C3[0_,PH8RM?/"1#*%GKS\BQ'-VOE!B+#:D%KV<>0
M(TN>3+DRV;/7TB++$W2<G;P/Y][4"+?NQ;N905]<VU?H`\7(^GECXY:9X7=T
MDS%V;+FW[]_`@POOBMG/2F4Y_HW)PPSNZ(RE=];3G+%#:Z%R;#!'-L.?%*O*
MH,PU_6?W\//HTZM?W[OX<66RO1D@OUBT7-STI:$V3OWB7OD$G"#@@`06X<\)
MH%%QF#5M,9/"@M6PD5M]/?'&WH489JCAAM*XU]\Q(,CACQ6JE4=5@`BDJ.**
M*[9SX@DLQHB`:OMU0``3,L;H_U0R@A&538HY``ED$!#Z\<".L?DCAQ1Y">"%
MB.,0$!>%UM@X0XXL(LGAEEQVZ258'I;X!Q/_,.'B=6R=B:8U#B6SWYH/*%-D
M$1;80,F=>()@'6[;'2-`D=7(P0934(YC`!/]T03GEXPVZNBC%X79S)[>V&&A
MB6O*UX6%BE['!&AOHDGB=LF-(X4%L#%C@3]C7&I@ID9:$$2?F,)J7!>`0:KK
MKKQR*2DS&`#*!*V=7F=`G;K9ZH>4;BKK1P<66+1?.1;DZDRAU=A!'PAL9(K-
MA%3""FVJO99K[KF^_<J//]HFJ^RQM=6:*;/(A'H=M!9ARU\.T;S*8!#@M=3M
MO=GD0/^KO)F.B^["##<\EKK+4*&O'T586VQK\+H+*[W'V-L:OG]T)Q\4X#I3
MJC=C/(<,%5!,+)\=4LIZ*<)K*NSPS3CG_%$*)Q!0Q,\DBXE,#C[__#,!SPEP
M`A1&-^WTTT6,@2PR2C,-]=4_GYJ,#2>,@?77).^3P])&2QG$S,N`T'/34/";
M=@Y+V2''W'-W\`#)!9/K9]=?8TVRWCH'+OC@RMB@339"(R/$X=F<G4P*C$<N
MN3;Q'@/YY)AGLXSAF6=N%>>4$W3YX=8JDT(.F2/0Q,'(=9XYX(3'+GO#>8+`
M>MJUTYI'[;SW7OHQN_LN/.[""]]G[@0%C^?MB@M@0P[0YV`*@P`!-U-\\7D$
#`@`[
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
