A method of assembling a tolerance ring between opposing surfaces of an inner and outer component arranged to mate with one another to provide an interference fit therebetween includes mounting the tolerance ring on one of the inner and outer components whereby the projections are received in a recessed portion on that component, partially mating the inner and outer components, and completing mating by causing relative movement between the tolerance ring and the recessed portion to move the projections from the recessed portion and to be compressed between the mated inner and outer components. The tolerance ring includes an annular band of resilient material for engaging an opposing surface of one of the inner and outer components. The annular band has a plurality of deformable projections extending radially therefrom to engage the opposing surface of the other one of the inner and outer components.