NEW YORK, July 5, 2000 (PRIMEZONE) -- Voicenet, Inc. (OTCBB:VNET)announced today that its common stock has been approved for trading on the American Stock Exchange. Trading of the common stock will commence on Tuesday, July 11th, 2000. The Company will trade under the symbol VCT.
Voicenet is a voice technology company that has developed speech based applications and a voice operating system ("VOS") platform which enables cellular and land based telephone users to assess and create their e-mail and other information services on a real-time interactive basis.
Voicenet recently announced that it had concluded a definitive sales and marketing agreement with RimpexChile S.A. ("Rimpex"), a wholly-owned subsidiary of Voicenet (Aust) Ltd. Under the terms of the agreement, Rimpex will pay a royalty equal to 20% of the gross revenues received from the sale and/or licensing of Voicenet technologies in the Americas. Rimpex, based in Chile, has recently concluded an agreement to provide certain voice recognition services for telecommunications purposes. Rimpex also provides integrated solutions, applications, products and services to a broad range of clientele including Raytheon, Williams Communications, Bell South, Coca-Cola, Nestle, CTC, Unilever, NCR, Philip Morris, Xerox and Johnson and Johnson.
Frank Carr, Chairman of Voicenet, Inc. stated "The move to the American Stock Exchange is a significant step toward increasing the exposure of the Company to the American marketplace. In addition, our marketing efforts to major telecom carrier groups and companies in the Americas will be greatly enhanced by this development."
ABOUT VOICENET:
Voicenet's VOS architecture utilizes a best-of-breed structure employing licensed technology where appropriate from leaders in speech-to text and text-to-speech software, including that developed by Lernout & Hauspie, the world's leading voice recognition software company.
FORWARD LOOKING STATEMENT:
This press release contains forward-looking statements, which are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions including without limitation such words as: "expects, "believes", "seeks" and "anticipates", reflecting something other than historical facts are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, and other factors. The actual results may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.