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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: KevinMark who wrote (31486)	8/8/2000 9:39:14 AM
From: JLS	Read Replies (1) \| Respond to of 57584

LHSP down 25% Media Alert/L&H Refutes Claims Made by Wall Street Journal That Discrepancies Exist in its Korean Sales Figures (BusinessWire, 08/8/2000 09:29) BURLINGTON, Mass. & IEPER, Belgium & SEOUL, Korea--(BUSINESS WIRE)--Aug. 8, 2000-- Lernout & Hauspie, (NASDAQ:LHSP, Easdaq: LHSP) (L&H), a worldwide market leader in speech and language technologies, products and services, stated today that it categorically refutes claims made in the August 8, 2000 Wall Street Journal that discrepancies exist in the company's sales figures for Korea. L&H executives firmly believe that statements attributed to L&H Korean customers are misquoted or factually incorrect and that other information appearing in the article, including its customer roster is distorted. For instance, official statements of two customers that have been misquoted are LG Electronics and Hung Chang Corporation. LG Electronics and L&H entered into a licensing agreement at the end of 1999. The agreement calls for the integration of L&H's TTS 2500 text-to-speech technology into television sets to be used for language learning. "We selected L&H as the technology provider for the text-to-speech as they have the best technology in the field," said Mr. Won-Mook Yu, senior researcher of LGE. "We are closely working together to implement L&H technology into our TV sets." In January 2000, another important Korean customer, Hung Chang Corporation, licensed technologies and solutions from L&H including its ASR 1500 automatic speech recognition engine, its SV 208 speaker verification system, and its award winning L&H(TM) RealSpeak(TM) text-to-speech technology in Korean and other languages. "We are developing speech activated door lock devices and speech enabled reservation systems for transportation such as trains and airplanes," said Mr. Chung-Soo Sohn, Chairman of Hung Chang Corporation, "We chose L&H for the breadth and depth of its technologies and the fact that it is able to supply the best multilingual speech solutions." "L&H has recently had tremendous success in the Korean market based on its unique ability to bring advanced speech and language solutions to the fast growing telephony and enterprise market there," said Gaston Bastiaens, president and CEO of L&H. "We have attained these results through strategic alliances and the development of unique, industry leading solutions. We are quite pleased with our results in Korea and intend to implement the business structure we have developed there throughout our operations worldwide." "The speech and language market in Korea is very robust especially in the enterprise and telephony market." said John Seo, CEO of L&H Korea and responsible for Enterprise and Telephony activities worldwide. "Since Bumil became L&H Korea in the summer of 1999, we now have more than 150 corporate customers which are supported by a staff of more than 300 employees including approximately 200 engineers, linguists and scientists." L&H invites media, industry and financial analysts to visit www.lhsl.com after 5 pm East Coast time today, August 8, and access it Q2 earnings announcement including additional information regarding its successful Korean operations. CONTACT: Lernout & Hauspie Corporate Communications Worldwide Ellen Spooren (781) 203-5344 espooren@lhsl.com