!!!! P T E K HOT OFF THE PRESS !!!!!
Premiere Technologies Announces $500,000,000 Appreciation on First of Five PTEKVentures.com
Portfolio Partnerships
WebMD-Healtheon Merger Increases Pre-Sold Physician Subscriptions to 11 Million Months,
Boosting Orchestrate® Revenue Potential
ATLANTA, May 21, 1999, 2:00 PM - Premiere Technologies (NASDAQ:PTEK) today announced
the current value of its partnership stake in WebMD, assuming completion of the merger with
Healtheon, at half a billion dollars or approximately $10 per PTEK share. Premiere's equity in
WebMD would convert to approximately 5.2 million shares of Healtheon/WebMD, including
422,000 shares held in an employee incentive pool. These shares were acquired as part of Premiere
Technologies' strategic investment and partnership arm, PTEKVentures.com.
The merger between the two Internet healthcare companies provides a major sales opportunity for
Premiere's Orchestate? product, which is included in WebMD's physician subscription offering.
Previously announced long-term deals between WebMD with DuPont and Microsoft call for 11
million months of physician subscription commitments. Orchestrate is the Web-based
communications solution that links voice messaging, e-mail, fax and conferencing with access
through the Internet or the telephone. Premiere expects to receive as much as $15 per month in fees
and usage revenue for each of the converted physician subscriptions.
"This is the beginning of a great run for PTEKVentures.com," said Boland T. Jones, Founder,
Chairman and CEO of Premiere Technologies. "Our portfolio strategy 'powered by Orchestrate' is
starting to pay off in multiple ways. Not only are the investments generating incredible returns,
they are giving Orchestate the distribution it needs to dominate the Web-based communications
category."
About Premiere Technologies
Atlanta-based Premiere Technologies, Inc. provides innovative solutions to simplify
communications by combining the power of the Internet with the reach of the telephone.
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Statements made in this press release, other than those concerning historical information, should
be considered forward-looking and subject to various risks and uncertainties. Such
forward-looking statements are made based on management's belief as well as assumptions made
by, and information currently available to, management pursuant to the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. Premiere's actual results may differ materially
from the results anticipated in these forward-looking statements as a result of a variety of factors,
including those identified in Premiere's Annual Report on Form 10-K for the fiscal year ended
December 31, 1998 and its Quarterly Reports on Form 10-Q and subsequent filings filed with the
Securities and Exchange Commission.
Copyright © 1999 by Premiere Technologies, Inc. and Direct Report Corporation. All rights
reserved. |
