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Technology Stocks : Fonix:Voice Recognition Product (FONX) -- Ignore unavailable to you. Want to Upgrade?

To: Kurthend who wrote (1812)	3/28/1998 2:58:00 PM
From: cool	Respond to of 3347

Just guessing that the next announcement will be who has invested the $30,000,000. My guess MS, Intel. The stock will certainly rise on the news of who the investors are, as did GMGC, then back down.

To: Kurthend who wrote (1812)	3/29/1998 3:50:00 PM
From: Jerry Miller	Read Replies (1) \| Respond to of 3347

FOR IMMEDIATE RELEASE: March 27, 1998 CONTACT: Investor Relations Al W. Waddill fonix corporation 801-553-6600 invrel@fonix.com Media Relations Anji DowDell fonix corporation 801-553-6600 adowdell@fonix.com Fonix Receives $30 Million Equity Funding SALT LAKE CITY, UTAH, March 27, 1998 -- fonix corporation has completed a $30 million private equity funding for the acquisitions of complimentary patentable technologies, the first of these acquisitions being AcuVoice, Inc., based in San Jose, California, which was announced in the March 17th '98 fonix press release, it was reported by Stephen M. Studdert, Chairman and CEO of fonix corporation. fonix expects AcuVoice, and other pending acquisitions, to operate as wholly-owned fonix subsidiaries generating revenue and positive earnings. The combination of fonix-branded products resulting from these acquisitions, with the fonix core technologies embedded inside, will drive fonix to the forefront of speech recognition technology companies. AcuVoice is the current text-to-speech leader, and supplies such customers as Lucent Technologies, General Motors, Microsoft, Hughes, Intel, AT&T, NEC, Fujitsu, Sony and General Magic. fonix paid $8 million in cash and issued approximately 2.7 million shares of fonix restricted common stock valued at $4.44 per share for a total valuation of approximately $20 million for AcuVoice. fonix corporation produces proprietary automatic speech recognition (ASR) technologies based on the human auditory model. Together with proprietary neural networks, the fonixTM technologies provide enhanced multi-modal human-computer interfaces. As a technology provider, fonix will license or integrate its proprietary speech recognition technologies through strategic alliances, joint ventures and co-development efforts, for use in electronic and computer devices for the Internet, commercial, professional and industrial markets. # # # Ne: The statements released by fonix corporation that are not purely historical are forward looking within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectation, hopes, intentions, and strategies for the future. Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company's business prospects and performance. It is important to note that the company's actual results could differ materially from those in such forward-looking statements. Forward-looking statements include: the availability of the second tranche of $15 million only after a registration statement is declared effective by the SEC and fonix complies with all other conditions to set forth with applicable agreements, the ability of fonix to combine its core technology with the AcuVoice technology and products and the continued acceptance of AcuVoice of products in the marketplace. Other risk factors including general economic, competitive, governmental, and technological factors are discussed in the company's filings with the SEC on forms 10-K, 10-Q, and 8-K.