CATM Cardtronics PLC

William Blair & Company initiated research coverage of Cardtronics, Inc. (Nasdaq: CATM) ($8.42), the largest operator of ATMs both in the United States and globally, with an Outperform rating and Established Growth company profile. Analyst Franco Turrinelli estimated that the company would generate EBITDA of $89.1 million in 2008 and $109.0 million in 2009. �Cardtronics has a highly attractive opportunity to increase the number of ATM sites it operates domestically and, especially, internationally,� Turrinelli said. �In the United States, Cardtronics' exclusive relationships with existing blue-chip retail merchant partners, and its ability to sign new merchants, should allow the company to continue to deploy ATMs at high-traffic (and hence profitable) locations despite the market's relative maturity.� �In addition, the company's successful initiative to allow financial institutions to brand Cardtronics ATMs with their identity, as well as its successful surcharge-free network, can both contribute significantly to profitability, we believe,� he added. �The company has successfully completed several acquisitions to garner additional scale and cost efficiencies, and further opportunities exist. Internationally, the company has significant opportunity to grow ATM count in its two existing markets�the United Kingdom and Mexico�and to target new markets for additional growth.� William Blair & Company, L.L.C. has received compensation for investment banking services from the company within the past 12 months, or expects to receive or intends to seek compensation for investment banking services in the next 3 months. William Blair & Company, L.L.C. was a manager or co-manager of a public offering of equity securities within the prior 12 months. William Blair & Company, L.L.C. is a market maker in the security of this company and may have a long or short position. William Blair & Company, L.L.C. (www.williamblair.com) is a Chicago-based investment firm offering investment banking, asset management, equity research, institutional and private brokerage, and private capital to individual, institutional, and issuing clients. Since 1935, we have been committed to helping clients achieve their financial objectives. As an independent, employee-owned firm, our philosophy is to serve our clients' interests first and foremost. For important disclosures and information regarding the firm�s rating system, valuation methods and potential conflicts of interest, please visit: http://www.williamblair.com/Pages/news_story_dept.asp?uid=1318&depID=4 Additional information is available upon request.