To: GC who wrote (393 ) 3/1/1999 11:09:00 PM From: Whiskeyj Read Replies (1) | Respond to
And More!!!!>>>>>>>>>>>>
IEPER, Belgium & BURLINGTON, Mass.--(BUSINESS WIRE)--March 1,
1999--Founders of L&H, Jo Lernout and Pol Hauspie announced their
intention to acquire, through one or more entities controlled by them,
up to $40 million of Lernout & Hauspie Speech Products Common Stock
(NASDAQ:LHSPF)(EASDAQ:LHSP). Such purchases, if any, may be made from
time to time, as conditions permit and subject to the discretion of
Messrs. Lernout and Hauspie, in the open market or in private
transactions.
"We share the view of many that Lernout & Hauspie Speech Products
has outstanding prospects and believe our common stock, at current
levels, represents an attractive investment opportunity," Messrs.
Lernout & Hauspie stated. "This stock-purchase program positions L&H
holding to make open-market purchases when appropriate."
Funding for the purchases by Jo Lernout & Pol Hauspie is being
arranged via a line of credit with KBC Bank of Belgium. The line will be
secured by a portion of Messrs. Lernout and Hauspie's beneficial
holdings of Lernout & Hauspie Speech Products shares. The intention to
make this investment has been presented to, and cleared by, the Board of
Directors of Lernout & Hauspie Speech Products.
"KBC is delighted to be in a position to extend this credit line to
Jo Lernout and Pol Hauspie," said Bruno Accou, managing director of KBC.
"We are fortunate to have a long, and mutually beneficial relationship
with Messrs. Lernout and Hauspie, and have closely watched and admired
their various activities."
About L&H
Lernout & Hauspie Speech Products (L&H) is a global leader in
advanced speech and language solutions for computers, automobiles,
telecommunications, embedded products, consumer goods and the Internet.
The company is making the speech user interface (SUI) the keystone of
simple, convenient interaction between humans and technology, and is
using advanced translation technology to break down cultural barriers.
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 Web site at www.lhs.com.
This Press Release contains forward-looking information, including
statements regarding the intention of Messrs. Lernout and Hauspie to
arrange for the purchase of up to $40 million of common stock. There can
be no assurance that Messrs. Lernout or Hauspie will arrange for the
purchase of any of such shares as the purchase of such shares will be
subject to their discretion, changes in market conditions, changes in
the price of L&H Common Stock, the completion of the loan documentation
for the above-referenced line of credit, restrictions on purchase under
loan agreement covenants and legal and regulatory constraints. L&H
cautions readers not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made. L&H
expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any such statements to reflect any change in
the L&H's expectations or any change in events, conditions or
circumstance on which any such statement is based.
All product names and trademarks mentioned herein are trademarks of
L&H or their respective owners.
--30--sb/bos*
CONTACT: Lernout & Hauspie
L&H Contact Info:
Worldwide PR/IR:
Ellen Spooren, (781) 203-5344
espooren@lhs.com
or
Corporate Comm. US:
Audrey Pobre, (781) 203-5341
apobre@lhs.com
or
Media Contact Europe:
Vanessa Richter, (32) 57-22-9518
vrichter@lhs.com
or
Lommaert & Blondeel Consultants
Investor Contact Europe:
Annemieke Blondeel, (44) 1322-520-180
a.blondeel@dial.pipex.com
KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS TELECOMMUNICATIONS
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