Preferred Voice Appoints New Chairman and CEO and Raises $1 Million
DALLAS, TX - (May 18, 2004) - Preferred Voice, Inc. (OTC
BB: PFVI), the leading provider of speech application solutions, announced today
that it has appointed former Microsoft executive Latif Nathani, as chairman and
CEO, and has raised $1 million in a private placement of equity securities. The
appointment of Mr. Nathani signals rejuvenation and the Company's dedication to
accelerate deployment of new speech and non-speech services that have been under
development by Preferred Voice over the past 12-18 months.
Mr. Nathani
brings more than ten years of leadership experience and entrepreneurial spirit
to Preferred Voice. "I am excited to have the opportunity to assist Preferred
Voice in transforming itself from a highly respected but relatively unknown
provider of specialty voice recognition products to a limited group of
independent telecommunications providers, into a premium applications provider
for the entire wireless and wireline technology industry," states Nathani. "It's
a company of good people, good customers, and great technology." Prior to
joining Preferred Voice, Nathani served as Director of Marketing and Business
Development for the Natural Interactive Services Division (NISD) of Microsoft
Corporation.
"We are pleased to have an executive with Mr. Nathani's
experience join our team. With Latif's enthusiasm and the solid foundation of
our products, I am confident his leadership will further Preferred Voice's
growth," said Bernard Bareis, Chief Technology Officer of Preferred Voice.
Before spearheading NISD efforts to productize speech recognition,
natural language and search technologies at Microsoft, Nathani founded the
successful eMemories.com that was later acquired by eCompanies. During his
decade at Microsoft, Nathani co-founded the Systems Management Server (SMS)
product group and the Speech products business group. He also had the unique
experience of being an engineer on the Windows NT 3.1 team and a marketer in the
Microsoft Office 95/97 team. Currently, Nathani serves as chairman for Minecode
LLC, based in Bellevue, Washington. He will retain his position as chairman at
Minecode LLC.
Preferred Voice also announced completion of a private
equity offering that raised $1 million in gross proceeds from existing
institutional and individual investors. The capital will support Preferred
Voice's plans to broaden its marketing efforts and introduce its enhanced
product line to new and existing customers. "This capital raise culminates a
year long plan set by management to dedicate its efforts to enhance and create
new products for our market place. We are excited about the opportunity we have
and the reception that we are getting from our customers as we reintroduce Voice
Dial, ReMind Me, Push 2 Connect and our new Content Delivery product," said Mary
Merritt, Chief Operating Officer of Preferred Voice.
About
Preferred Voice Based in Dallas, TX, Preferred Voice, Inc. (OTC
BB: PFVI) 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, Emma TR the telephone receptionist,
and Push 2 Connect conferencing on demand. 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. For more information visit
Preferred Voice 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: Latif Nathani, Chairman and CEO
Preferred Voice,
Inc.
(214) 265-9580
Media Contact: Joelle Mertzel
Mertzel Public Relations
(818) 345-4900
jmertzel@socal.rr.com