Enghouse Completes Tender Offer for Syntellect

MARKHAM, ONTARIO - Enghouse Systems Limited (TSX:ESL) announced the successful completion of its tender offer for all of the outstanding shares of Syntellect Inc. (NASDAQ:SYNL.OB), at a price of $0.72 cash per share. Based on preliminary information provided by the depositary for the offer, approximately 9,123,000 shares, representing approximately 80% of the outstanding shares, have been tendered. Arizona Acquisition Corp., the wholly owned subsidiary of Enghouse through which the offer was made, has accepted for payment all shares validly tendered prior to the expiration of the offer and will make prompt payment to the depositary for the accepted shares. Enghouse intends to acquire the remaining publicly held shares through a merger in which all remaining Syntellect stockholders (other than those who properly exercise their appraisal rights under applicable law) who did not tender their shares will receive the same consideration as those who tendered. The merger is expected to be completed pursuant to the short-form merger provisions of Delaware law.