Inc. Magazine Names Vocollect One Of North America's Fastest Growing, Privately Held Companies

Vocollect, the global leader in "hands-free, eyes-free" voice-directed work, has been named to Inc. Magazine's 24th Annual Inc. 500 List of America's Fastest Growing Private Companies. Driven by Vocollect's compound annual growth rate of 60% over the past 3 years, the listing by Inc. Magazine focuses additional attention on the company's increasing presence and the market acceptance of its hands-free, eyes-free voice-directed solutions for logistics and supply chain applications.

Inc. Magazine, the premier publication for small and medium sized businesses, released its list today. The Inc. 500 Special Issue will appear on newsstands October 26 and will be on display until December 21, 2004.

"Our extraordinary growth has been over 17 years in the making. Vocollect has a long history of innovation — of applying advanced voice technology to create reliable, practical and — most of all — high ROI products for business." says Jack LeVan, Vocollect's president and CEO.

Noting that the company achieved record sales of $65 million in the first nine months of 2004 — an increase of 98 percent over a year ago, LeVan said, "Our 12 consecutive quarters of profitable growth reflect the hard work and dedication of our employees and our global network of outstanding reseller partners who have established Vocollect as the unquestioned leader for voice-directed distribution solutions around the world." LeVan adds, "Thanks to their efforts and the support of our customers, hands-free, eyes-free systems from Vocollect have become a strategic necessity for companies seeking greater accuracy, productivity and profitability."

LeVan projects that company sales for all of 2004 will surpass $82 million, an increase of more than 70 percent over 2003 results.

Vocollect's continued revenue growth and impressive financial performance is driven by several key factors:

• Rapid growth in European markets
• Adoption of Vocollect's industry-leading solutions by a growing range of vertical market segments and rapid proliferation of applications throughout the distribution centers of long term Vocollect users.
• Strong growth from new and existing reseller partnerships with many of the world's leading warehouse management system (WMS) vendors, material handling systems integration firms, and selected specialty voice value-added reseller companies.
• Enthusiastic reception for the company's newly introduced SR-20 Talkman Lightweight Headset, designed, manufactured and thoroughly tested at Vocollect's Pittsburgh campus.

"Our ability to sustain rapid self-funded growth comes from the business benefits and real return on investment delivered by our products and services," said Jack LeVan. "We have worked very hard to earn the trust of many of the world's top companies."

Industry observers continue to recognize the momentum of Vocollect's voice-directed solutions:

• Global Logistics & Supply Chain Strategies recently named Vocollect one of its "100 Great Supply Chain Partners," acknowledging its role in improving customer operations.
• Modern Materials Handling named the company one of the world's "Top 20 ADC Suppliers."
• The Pittsburgh Business Times ranked Vocollect in the top 10 of its "Pittsburgh 100," a list of the region's fastest growing privately held companies.
• The Pittsburgh Technology Council named Vocollect the leading Information Technology company in Western Pennsylvania for the second consecutive year.
• Vocollect customer, Connect Logistics, was recently honored as a "2004 Supply Chain Innovator" by Supply Chain Systems. Among the reasons: 99.997 percent accuracy achieved on order selection using the Vocollect system.

About Inc. Magazine (www.Inc.com)
Inc., the only business magazine dedicated exclusively to owners and managers of fast-growing private companies, delivers real solutions for today's innovative company builders. It provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing and technology. Inc. is the premier publication that focuses on small to medium-size businesses, which are responsible for more than half the nation's gross domestic product and 75% of its new jobs. And Inc. looks beyond work to address the entrepreneurial lifestyle. Inc., a Gruner + Jahr USA publication, inspires and informs, with cutting-edge coverage that reflects our readers' energy, brashness, and imagination.

About Vocollect
Each day, workers in 14 countries on five continents use Vocollect's "hands-free, eyes-free™" voice solutions to increase fulfillment accuracy, boost productivity, and improve accuracy. Since pioneering voice recognition for industry in 1987, Vocollect continually has set the standard for voice-directed business solutions that cut operating costs by eliminating errors and improving worker productivity shift after shift.

Leading WMS providers, material handling integrators and specialty voice solution providers around the world choose the performance and reliability of Vocollect to deliver hands-free, eyes-free distribution solutions.