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Preferred Voice "Extremely Pleased" With Philips Agreement
Favorable Terms Covers Preferred and its Carrier Partners; Creates A Potentially
Significant Competitive Advantage
DALLAS, Texas, October 17, 2001 -
Responding to this morning's release by Philips Speech Processing, a division of
Royal Philips Electronics (NYSE: PHG), G. Ray Miller, Chief Executive Officer of
Preferred Voice, Inc. (OTC Bulletin Board: PFVI) confirmed that the parties have
completed a new, comprehensive licensing agreement.
Philips Speech
Processing holds several US patents for voice activated dialing (VAD) and other
speech recognition technologies for non-wireline applications. Philips' voice
activated dialing patents includes any use of speech recognition with any
non-wireline telephone or non-wireline device to activate dialing and/or
completing a call, accessing any telephony database, auto attendant services,
follow-me services, reminder services and/or directory services.
Miller
said, "Preferred was one of the first in the US to enter into agreements to
utilize the Philips Speech Pearl Technologies. Philips recently announced that
it is now notifying wireless carriers and other voice dial providers of its
intent to protect and enforce its patent rights in this area. We are extremely
pleased to renew our alliance with Philips, and assure exceptionally favorable
royalty terms for our carrier partners."
"One of the important reasons
Preferred Voice originally aligned with Philips was its pre-eminent patent
position" Miller added. "To the extent that Philips succeeds in its efforts to
enforce patent rights, Preferred and its carrier partners will benefit, and
potentially gain a significant competitive advantage."
About Preferred
Voice, Inc.
Based in Dallas, TX, Preferred Voice, Inc. (OTC BB: PFVI) is
a leading voice recognition technology company that markets its services to
wireless, ILEC and CLEC companies across the United States. Preferred Voice's
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. All of these
voice services overlay on their existing wireless and wireline phones as a voice
alternative to touchtone. Preferred Voice has signed agreements with over 40
telecom carriers which serve more than 4.7 million subscriber lines in 34
states. For more information please visit www.preferredvoice.com.
"Safe
Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
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.
Company Contact:
Bill Schereck
President / COO
(214) 265-9580
wschereck@preferredvoice.com
Agency Contact:
Ira Weingarten
Equity Communications
(805) 897-1880
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