MAHWAH, N.J., June 4, 2004 (PRIMEZONE) -- Communications Research, Inc. (OTCBB:CRHI) announced that it has secured financing for the sales and marketing re-launch of TeleWRITER 3.0 and has commitments for additional funding to aggressively position TeleWRITER as a key industry player in the $3 billion collaborative computing market.
"This major step puts the final piece of the puzzle in place for the re-launch of TeleWRITER, which promises to be a multi-million dollar product for the company within 12 months," remarked company president Carl Ceragno. "Beta-testing with major power users will begin in the next two weeks and we have been taken aback by the strong response we've received from current users clamoring for the upgrade. This is a very exciting time for the company."
At its peak, TeleWRITER-AGS had approximately a 60% share of the collaborative computing market in the mid-1990s. CRHI acquired the technology 4 years ago, with the expectation of re-launching the product to old users and capturing the rapidly growing market. Early indications suggest that there is still considerable interest from prior users and new prospective users are enthusiastic about TeleWRITERS' features and price-point.
This news release contains forward-looking statements regarding CRHI's business strategies and future plans of operations. Forward-looking statements involve known and unknown risk and uncertainties. The company's risks and uncertainties include: intense price competition, economic, political and regulatory uncertainties, the need to raise additional capital for growth and expansion and its reliance on the Internet as a means for promoting the software it sublicenses. The forward-looking statements contained in this news release speak only as of the date hereof and CRI disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in CRI's expectations or future events.