Wizzard Software Attracts 21 New Customers

PITTSBURGH, PA - Wizzard Software (OTCBB: WIZD) announced that 21 new companies signed agreements in the fourth quarter of 2003, whereby they will include one or more of Wizzard's speech products in their own product offerings and pay Wizzard a royalty for each copy of the speech enabled product they distribute to their customers. Businesses in the medical, financial, communications, regulation compliance and governmental sectors use Wizzard's speech recognition and text-to-speech programming tools to add speech input and/or output to their products and services. Once these products have been developed, companies then sell their products or services to their new or existing customers, paying Wizzard a royalty on a per seat or per usage basis. In addition to the new customers, Wizzard also saw an increase in customers in the fourth quarter who have surpassed their minimum royalty obligations and have increased their commitments and future estimates for product sales, resulting in additional royalty revenues. Wizzard has also seen increases in companies incorporating speech into established, highly distributed product lines as opposed to brand new products with no customers at this time. "We've been offering speech products for the last seven years and we are encouraged with the recent increase in companies including Wizzard's speech offerings in their products and services," said Chris Spencer, CEO of Wizzard Software Corporation. "We are seeing more businesses in the U.S. and Europe wanting to include speech in their products and we feel it is only a matter of time before speech becomes a "must have" technology for many niche and mass markets. We expect 2004 to be a strong year for both speech technology and Wizzard." Additionally, Wizzard announced that it signed at least four new Master Consulting Services Agreements in the fourth quarter of 2003, setting the stage for Wizzard to consult, develop and/or provide various support and other services to businesses wanting to include speech in their products or services. "While many companies choose to incorporate speech technology into their products or services on their own, using Wizzard's programming tools, several of these companies are realizing the value of having Wizzard perform the work while they focus on their customers," said Gene Franz, director, sales and marketing of Wizzard's Consulting Division. "Wizzard has been developing and supporting speech based applications for over seven years and businesses are realizing that in most cases, Wizzard can provide more accurate and productive speech based products at a significantly lower cost than if the customer were to perform the development work themselves."