To: D. Peter Vanderlee who wrote (277 ) 11/2/1998 2:09:00 PM From: D. Peter Vanderlee Respond to of 440
BCB VOICE SYSTEMS RECRUITS NEW MANAGEMENT Industry Professionals from Lernout & Hauspie, Ocular Sciences and Precision Business Systems Round out Market Development, Finance and Sales Executive Positions at BCB November 2, 1998 - MARKHAM, ONTARIO - BCB Voice Systems Inc. (Alberta Stock Exchange:BIV) today announced that they have hired three key managers to fulfill the roles of Vice President of Market Development, Chief Financial Officer and U.S. National Sales Manager. Larry Allard, the former Vice President of Business Development for Lernout & Hauspie Speech Products N.V. (NASDAQ:LHSPF, EASDAQ:LHSP.ED), BCB's partner in speech recognition technology, takes over the senior market development role for BCB. Allard's exposure to BCB began as the due diligence agent on the $US1.6 million investment made by Lernout & Hauspie (L&H) in BCB in July this year. The due diligence process convinced Allard that BCB's technology, in combination with L&H's speech recognition and translation engines, was well-timed for vertical markets like medical and legal where the electronic document (versus paper) is rapidly gaining acceptance. This opens up a $6 billion dictation/transcription marketplace that is largely unexplored Larry Beard is BCB's new Chief Financial Officer. Beard was formerly the CFO for the Canadian subsidiary of Ocular Sciences/American Hydron (NASDAQ:OCLR) with worldwide sales of $200 million. Beard's experience with a US-headquartered company achieving 30% annual earnings growth will be invaluable to BCB as the company carries out its strategic plan of penetrating global markets and increasing visibility through a NASDAQ-track listing program. Ken Kloss, BCB's new U.S. National Sales Manager, was formerly the Systems Specialist serving medical, legal and courtroom markets for Precision Business Systems, a major Minnesota-based dictation systems reseller. At Precision Business Systems, he was named Sales Rep of the Year in eight of his last nine years there. Precision Business Systems cemented a distribution agreement with BCB in 1997 during which time Kloss was able to witness BCB's technology advances with its innovative and patented PC-DART digital dictation system. Significantly, Kloss brings BCB strong market knowledge based on selling competitive digital dictation systems, as well as speech recognition systems. Peter Vanderlee, BCB's President points out, "These appointments complete a major overhaul of BCB's management team through the past six months. While retaining the experience and determination of BCB's founding chairman and two senior vice presidents, new drive, vision and industry knowledge has been added through the appointment of a new president, executive vice president, chief financial officer, market development executive and national sales manager. Working together, this team is building a company strategy that can sustain significant growth and profitability through the years ahead. This has meant converting the company from its focus on engineering and hardware, to software and marketing. This change of focus will create significantly greater margins and broader markets for BCB products." BCB Voice Systems develops and markets software and systems that capture, digitize, compress and store voice from a variety of sources and then manages the flow of these voice files over virtually any computer network, including the Internet. The Company supplies solutions to end-users ranging from individual medical and legal practices to large hospitals, legislative assemblies, courthouses and general business. BCB has formed a number of key alliances and is currently integrating its technology with leading voice recognition, case management, document management and medical workflow software.