TransMontaigne Inc. Provides Update on the Rio Vista Energy Partners L.P. and Penn Octane Corporation Transaction

TransMontaigne Inc. (NYSE: TMG) today announced that it
continues to perform due diligence procedures on the previously
announced transaction with Rio Vista Energy Partners L.P. and Penn
Octane Corporation. Currently, it is anticipated that this transaction
will not close before November 30, 2005.

   TransMontaigne Inc. is a refined petroleum products marketing and
distribution company based in Denver, Colorado with operations in the
United States, primarily in the Gulf Coast, Midwest and East Coast
regions. The Company's principal activities consist of (i) terminal,
pipeline, and tug and barge operations, (ii) marketing and
distribution, and (iii) supply chain management services. The
Company's customers include refiners, wholesalers, distributors,
marketers, and industrial and commercial end-users of refined
petroleum products. Corporate news and additional information about
TransMontaigne Inc. is available on the Company's Web site:
www.transmontaigne.com.

   Forward-Looking Statements

   This press release includes statements that may constitute
forward-looking statements made pursuant to the safe harbor provision
of the Private Securities Litigation Reform Act of 1995. This
information may involve risks and uncertainties that could cause
actual results to differ materially from the forward-looking
statements. Although the Company believes that the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, such statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
projected.