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Technology Stocks : LHSP: Lernout En Hauspie -- Ignore unavailable to you. Want to Upgrade?

To: A.L. Reagan who wrote (2295)	8/14/2000 1:06:07 AM
From: wlcnyc	Read Replies (1) \| Respond to of 2467

"Sunday August 13, 6:31 pm Eastern Time Press Release Lernout & Hauspie Announces Company Audit to Address Revenue and Customer Issues Raised in Business Press Company Expects Validation of Strong Business in Korea BURLINGTON, Mass. & IEPER, Belgium--(BUSINESS WIRE)--Aug. 13, 2000--Lernout & Hauspie, (Nasdaq: LHSP, Easdaq: (LHSP) (L&H), a worldwide market leader in speech and language technologies, products and services, today announced that it will commission a mid-year interim audit of the company - including its Korean operations - with the objective of allaying concerns about the division's financial results. The audit will be conducted by Lernout & Hauspie's independent auditor, KPMG. ``We have no doubt that the auditors will confirm that during the first two quarters of 2000 L&H Korea had strong revenues and a very solid business base, as already publicly reported,'' said Gaston Bastiaens, President and CEO of L&H. ``The August 8 article in Wall Street Journal raised concern regarding L&H's Korean operations. We have commissioned this audit because we're determined to remove any possible uncertainty about the integrity of our financial results. About Lernout & Hauspie Lernout & Hauspie (L&H) is a global leader in advanced speech and language solutions for vertical markets, computers, automobiles, telecommunications, embedded products, consumer goods and the Internet. The company makes the speech user interface (SUI) the keystone of simple, convenient interaction between humans and technology, and uses advanced translation technology to break down language barriers. The company provides a wide range of offerings, including: customized solutions for corporations; core speech technologies marketed to OEM's; end user and retail applications for continuous speech products in horizontal and vertical markets; and document creation, human and machine translation services, Internet translation offerings, and linguistic tools. L&H's products and services originate in four basic areas: automatic speech recognition (ASR), text-to-speech (TTS), digital speech and music compression (SMC), and text-to-text (translation). For more information, please visit Lernout & Hauspie on the World Wide Web at www.lhs.com or www.lhsl.com. This press release contains forward-looking information. Such statements include, without limitation, statements involving L&H's plans, objectives, expectations and intentions. There can be no assurance that actual results will not be materially different from those anticipated in these forward-looking statements. Readers are cautioned that such forward- looking statements involve risk and uncertainties, including, without limitation, the risks set forth in L&H's reports filed with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this release. L&H expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in L&H's expectations or any change in events, conditions or circumstances on which any such statement is based. -------------------------------------------------------------------------------- Contact: Worldwide PR/IR: Lernout & Hauspie Ellen Spooren, (781) 203-5344 espooren@lhsl.com or Corporate Comm. US: Lernout & Hauspie Audrey Webb, (781) 203-5341 awebb@lhsl.com or Corporate Comm Europe L&H Ron Schuermans, (32) 57-2295-24 ron.schuermans@lhs.be or Thomson IR Europe: Steffan Williams, (44) 207-422-5182 steffan.williams@thomsonir.com or Corporate Comm AP: Lernout & Hauspie Geraldine Kan, (65) 799-8956 geraldine.kan@lhsl.com.sg" biz.yahoo.com