Lernout & Hauspie Speech Products N.V., L&H Holdings USA, Inc., and certain of their subsidiaries (collectively, “L&H” or “the Company”) announced the sale of remaining speech and language technology assets through a court-approved, public auction held on the 26th of November. The sales of the Company’s individual assets are subject to final approval by the U.S. Bankruptcy Court for the District of Delaware and the Ieper Commercial Court of Belgium. The major portion of L&H’s core speech and language technology business, including its text-to-speech (TTS) technologies, including L&H RealSpeak, and certain of its automatic speech recognition (ASR) technologies, including the Dragon Naturally Speaking line of products, will be acquired by Massachusetts-based ScanSoft, Inc. in exchange for $10 million in cash, a $3.5 million note, and 7.4 million common shares of ScanSoft, Inc. stock with a market value of $26 million based on the November 26th closing price of $3.52 per share. Additional assets sold at the auction include: The ASR technologies of L&H’s ISI division to Pennsylvania-based Multimodal Technologies, Inc., and L&H’s Intelligent Content Management (ICM) assets and its Knexys division, which develops ICM technologies to Vantage Technology Holding for $2 million in cash. www.lhsl.com

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