Exhibit 99.1


NEWS from TOKHEIM CORPORATION

CONTACT:

     John S. Hamilton
     President & CEO
     Tokheim Corporation
     (260) 470-4649



For release to National Circuit and Analysts.

                        TOKHEIM CORPORATION CLOSES SALE
                           OF NORTH AMERICAN ASSETS


FORT WAYNE, IN, March 8, 2003-- Tokheim Corporation (OTC BB: THMC)
announced today that effective March 7, 2003, it has completed the sale of the
company's Gasboy operating segment to certain affiliates of Danaher Finance
Company and the sale of its Tokheim North America and MSI operating segments
to certain affiliates of First Reserve Fund IX, L.P.

Tokheim did not receive any additional qualified bids for its Tokheim
International operating segment in accordance with the procedures required by
the United States Bankruptcy Code. Therefore, the auction scheduled for
February 27, 2003, was cancelled and Tokheim intends to submit the bid of AXA
Private Equity for approval by the Bankruptcy Court.

Tokheim does not believe its shareholders will receive any distribution upon
confirmation of a plan of reorganization.