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Miller Steps Aside as CEO of Preferred Voice, Remains Chairman
Miller to Focus on Building Strategic Relationships
DALLAS, TX - (June
11, 2002) - Preferred Voice, Inc. (OTC Bulletin Board: PFVI), said today that
its co-founder and Chairman of the Board, G. Ray Miller, has relinquished his
duties as Chief Executive Officer. In his continuing role as Chairman, Miller
will focus his considerable energies on building strategic relationships and
creating future generations of products and services for Preferred Voice.
"With the first generation technology up and running, and an entire
second generation of products now fully developed and ready to go, the company's
immediate challenges are in the area of day to day operations," said Miller. "In
Bill Schereck and Mary Merritt, Preferred Voice is fortunate to have an
experienced, highly competent team dedicated to achieving profitability at the
earliest possible date."
Bill Schereck, President and Chief Operating
Officer, and Mary Merritt, Co-founder and Chief Financial Officer, will be
responsible for the company's day to day operations.
Schereck, who has
been with Preferred Voice for over a year, has focused his career on
successfully building communications networks. He was involved in the start-up
of five television stations in addition to launching FoxNet, Fox's first cable
network and the QVC shopping channel in England and Mexico. In 1995, Schereck
became CEO of the TV Shopping Network based in Sydney, Australia and managed its
expansion into 44 countries. As a seasoned executive with considerable
entrepreneurial experience, Schereck is committed to take Preferred Voice to
profitability.
The changes in senior management follows last week's
decision to focus the company's energies on streamlining it's operations and
achieving near-term profitability. "Preferred Voice is in a position to realize
its long held goal of financial self-sufficiency," said Schereck. "We expect
that with its existing resources the company will achieve this goal by the
fourth quarter of 2002."
Miller was one of a handful of executives that
pioneered in a new environment created by the deregulation of the
telecommunications industry. As creator of the Execunet Service for MCI in the
1970's, as founder and Chairman of US Tel (which was the largest of three
entities merged to form US Sprint), and as founder and chairman of International
Telecharge in the 1980's, Miller brought to Preferred Voice a wealth of
experience, a genuinely creative talent, and a unique network of relationships
that will be especially helpful in his new strategic role.
About
Preferred Voice
Based in Dallas, TX, Preferred Voice, Inc. is a leading
voice recognition technology company. Through its Carrier Services Group,
Preferred Voice markets its products and services to wireless, ILEC and CLEC
companies across the United States. These enhanced voice services include Safety
Talk voice activated dialing, voicemail navigation, VAC voice accessed content,
voice calling cards, BusinessConnect voice directory assistance and EmmaPR voice
telephone receptionist. Preferred Voice's Network Services Group provides
carrier connectivity, call management, provisioning and service delivery
solutions for carriers, voice portal providers, wireless application providers
and other enhanced features providers. Preferred Voice has signed agreements
with 45 telecom carriers. For more information please visit
www.preferredvoice.com.
SOURCE: Preferred Voice, Inc.
This press
release contains forward-looking statements. Since all statements about
Preferred Voice's plans, estimates and expectations are based on current
projections that involve risks and uncertainties, and are subject to change at
any time, the company's actual results may differ materially from expected
results. Readers should consider these risks and uncertainties, which are
discussed in documents filed by Preferred Voice, Inc., with the Securities and
Exchange Commission. These documents identify important factors that could cause
the actual results to differ materially from those contained in the
forward-looking statements. Preferred Voice, Inc. expressly disclaims any
obligation to update any forward-looking statements.
Contact:
Joelle Mertzel, (310) 586-7161
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