To: Joe Copia who wrote (13913 ) 3/30/1999 3:52:00 PM From: RCJIII Respond to of 25711
Major news out on VXCH- (COMTEX) B: VOXCOM HOLDINGS RECEIVES $12.6 MILLION INVESTMENT FROM EU B: VOXCOM HOLDINGS RECEIVES $12.6 MILLION INVESTMENT FROM EUROPEAN INVESTOR Group; $4 Million to Be Used to Repurchase Outstanding Convertible Debenture DALLAS, March 30 /PRNewswire/ -- Voxcom Holdings, Inc. (OTC Bulletin Board: VXCH) reported today that a European investor group made a $12.6 million equity investment into the company. In connection with the investment, an exclusivity will be granted for marketing MAXpc in Germany and potentially other European countries. A spokesperson for the investment group, expressed, "We have never seen a product like MAXpc, and we recognize the opportunity in its worldwide application. The group, through our contacts in Europe, plans to introduce MAXpc to all the major corporations and institutions." Voxcom stated that the investment funds will be used initially to repurchase an outstanding convertible preferred note for an aggregate amount of approximately $4 million. As a result of the repurchase, the company no longer has any convertible debt or convertible preferred securities outstanding. "By repurchasing the convertible debt, we will eliminate the selling pressure in the stock that resulted from the conversions," said Larry Biggs, CEO of Voxcom Holdings. "This event will be significant for the future performance of our stock in allowing our stock to better reflect the future potential of our company and MAXpc." The remaining funds will be used primarily for working capital needs which will include an aggressive marketing program to launch the MAXpc product worldwide. Don McLellan, President of Voxcom, stated, "Our product performs functions which most people don't realize is even possible. With this investment, we will be able to let them know who MAXpc is, and what our product can do to change how people communicate over the Internet from their desktop PC." About MAXpc Technologies: MAXpc, a wholly owned subsidiary of Voxcom Holdings, owns the exclusive rights to manufacture, market and distribute the MAXpc product -- a media accelerator card that equips a desktop computer for video communications over the Internet. The MAXpc card allows a PC user to video conference in true motion over the Internet or LAN to anywhere in the world; record, edit and playback audio and video; view MPEG and DVD movies with output to a TV; as well as enjoy positional and wavetable audio and AC3 Dolby Digital surround sound. Powered by an internal media processor and patented operating system, the MAXpc card processes media at 3.6 billion operations per second. Priced at under $500, MAXpc is the first cost effective desktop videoconferencing solution to provide full video communication capabilities over the Internet. For more information about the company or to obtain investment information, please call Voxcom Investor Relations at 214-691-0055, or visit the company's website at www.maxpc.com. Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties which may affect Voxcom Holdings, Inc.'s business and prospects and cause actual results to differ materially from these forward- looking statements. SOURCE Voxcom Holdings, Inc. -0- 03/30/99 /CONTACT: Investor Relations of Voxcom Holdings, Inc., 214-691-0055/ /Web site: htt://www.maxpc.com/ /Web site:voxcomholdings.com (VXCH)