To: Sheri who wrote (51 ) 3/11/1998 8:56:00 AM From: Michael Respond to of 1177
Wednesday March 11, 7:24 am Eastern Time Company Press Release Applied Voice Recognition Inc. Announces Record 1997 Sales Increase of 463% VoiceCOMMANDER to be Distributed Worldwide in 1998 HOUSTON--(BUSINESS WIRE)--March 11, 1998--Applied Voice Recognition Inc. (OTC BB:AVRI - news) announced today sales of $2,113,013 in 1997 versus $375,600 in 1996. The total increase was 463% over fiscal year 1996. AVRI Chairman & CEO Tim Connolly stated, ''1997 was a year of unprecedented growth for AVRI. We earned a great deal of intellectual capital which we believe will help the Company perform at greater levels in 1998. Additionally, we are enthusiastic about our new development and marketing agreement with Voice It Worldwide Inc. [Nasdaq:MEMO - news] for the new VoiceCOMMANDER consumer product line. Over 53,000 units of this new software product were sold since its release in the fourth quarter of 1997 alone.'' VoiceCOMMANDER software and the newly announced VoiceCOMMANDER handheld dictation device (to be released July 1, 1998) will be marketed by Voice It Worldwide Inc. to its 10,000 retail outlets throughout North America and 15 countries internationally. Voice It Worldwide Inc. CEO Dennis Altbrandt stated, ''Being able to immediately offer VoiceCOMMANDER software gives users a very user-friendly interface while harnessing the power of IBM ViaVoice. AVRI has a tremendous amount of experience with voice recognition applications, and is a great strategic partner for us.'' Founded in 1994, AVRI develops, markets and supports original voice recognition applications designed to meet dictation needs and solve targeted business problems for the Global 5000 and the medical industry. Its professional line of products include VoiceCOMMANDER, the first integrated office correspondence suite to use continuous speech. For more information, see the AVRI website at www.voicecommander.com. This press release contains forward-looking statements that are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Actual results could differ materially from those projected in the forward looking statements as a result of risk factors such as market conditions, product life cycles, customer delays in purchasing products, technology shifts, potential difficulties in introducing new products, competition, price sensitivity and the uncertainty of continuing market acceptance of the Company's products by distributors, retailers and consumers. Careful consideration should be given to cautionary statements made in AVRI's reports filed with the Securities and Exchange Commission. Contact: Applied Voice Recognition Tim Connolly, 713/621-5678 connolly@voicecommander.com or Karen Hott, 800/292-AVRI (Investor Relations) khott@voicecommander.com