Thermo Credit, LLC Enters into a $20 Million Funding Arrangement with Teletouch Communications, Inc.

NEW ORLEANS, LA – May 30, 2008 - Thermo Credit, LLC, a funding company focused exclusively on opportunities in the telecommunications industry, announced today that it has completed a new $5 million asset based credit facility with Teletouch Communications, Inc. (OTC.PK: TLLE), a leading U.S. cellular, two-way radio, mobile electronics and related services provider. In addition, Thermo Credit has expanded an existing facility originally signed in August 2006 with Teletouch’s wholly-owned subsidiary, Progressive Concepts, Inc. (PCI), which provides for a total additional $15 million in financing based on accounts receivable. The two facilities together comprise $20 million in total funding capabilities.

Jack Eumont, Executive Vice President of Internal Operations for Thermo Credit, LLC stated, “We continue to be pleased with the performance of our financial relationship with Teletouch. We feel their strong management team and continued focus on the bottom-line continues to enhance their ability to grow, improving the overall value of our credit and use of the specialized facilities we offer.”

"We very much appreciate the strong support that we have received from Thermo Credit, and they responded well to the challenge of a competitive bidding situation," said T. A. “Kip” Hyde, Jr., President and COO of Teletouch, and CEO of its wholly-owned subsidiary, Progressive Concepts, Inc. "The new asset based line, in conjunction with the increased accounts receivable line has allowed us to increase the size of our borrowing capability by a combined total of nearly $10 million, giving the Company tremendous flexibility and financial muscle as we move forward with our growth plans."