Fonix Announces Additional Financial Support for Expansion Into Asia and Investment in Audium

Apr 18, 2001, 01:00 ET from Fonix Corporation

    SALT LAKE CITY, April 18 /PRNewswire/ -- Fonix(R) Corporation
 (OTC Bulletin Board:   FONX), a leading provider of natural-user interface
 technology solutions for wireless and mobile devices, Internet and telephony
 systems, and vehicle telematics, filed a Form 8-K with the United States
 Securities and Exchange Commission reporting its strategic investment in
 Audium Corporation and the funding commitment of an additional $20 million
 equity line.
     In support of the Audium investment and the recently announced expansion
 of Fonix into Korea, an additional $20 million equity line of credit has been
 obtained from a private investor.  "With our recent expansion of global
 marketing and sales efforts and our strategic investments in companies like
 Audium, Fonix has added financial capability to meet these growth
 opportunities", said Roger D. Dudley, Ex. VP & CFO.  "The added equity
 financing facility allows the company to move aggressively to capture revenue
 opportunities in the growing embedded markets, expand its efforts with
 additional product enhancements and support the dynamic growth in VoiceXML
 opportunities."   Draws on the new equity line will require the company to
 issue shares of Fonix Class A common stock, under the same terms as the
 existing equity line.
 
     About Fonix Corporation
     Fonix Corporation (OTC Bulletin Board:   FONX) is a leading provider of
 natural-user-interface technology solutions for wireless and mobile devices,
 Internet and telephony systems, and vehicle telematics.  Leading chip
 manufactures, independent software and hardware vendors, and Internet content
 and service providers incorporate Fonix technology to provide their customers
 with an easier and more convenient user experience.  Fonix products, including
 Text-To-Speech (TTS), Automatic Speech Recognition (ASR), and Handwriting
 Recognition (HWR), provide the most natural communication solutions available.
 
     For further information please contact Media Information, Whitney Seamons,
 801-553-6600, mediarel@fonix.com, or Investor Information, Michelle Aamodt,
 801-328-0161, invrel@fonix.com, both of Fonix Corporation.
 
     Note:  The statements released by Fonix Corporation that are not purely
 historical are forward-looking within the meaning of the "Safe Harbor"
 provisions of the Private Securities Litigation Reform Act of 1995, including
 statements regarding the Company's expectations, hopes, intentions, and
 strategies for the future.  Investors are cautioned that forward-looking
 statements involve risk and uncertainties that may affect the Company's
 business prospects and performance.  It is important to note that the
 Company's actual results could differ materially from those in such forward-
 looking statements.  Risk factors including general economic, competitive,
 governmental, and technological factors as discussed in the Company's filings
 with the SEC on Forms 10-K, 10-Q and 8-K.  The Company does not undertake any
 responsibility to update the forward-looking statements contained in this
 release.
 
 

SOURCE Fonix Corporation
    SALT LAKE CITY, April 18 /PRNewswire/ -- Fonix(R) Corporation
 (OTC Bulletin Board:   FONX), a leading provider of natural-user interface
 technology solutions for wireless and mobile devices, Internet and telephony
 systems, and vehicle telematics, filed a Form 8-K with the United States
 Securities and Exchange Commission reporting its strategic investment in
 Audium Corporation and the funding commitment of an additional $20 million
 equity line.
     In support of the Audium investment and the recently announced expansion
 of Fonix into Korea, an additional $20 million equity line of credit has been
 obtained from a private investor.  "With our recent expansion of global
 marketing and sales efforts and our strategic investments in companies like
 Audium, Fonix has added financial capability to meet these growth
 opportunities", said Roger D. Dudley, Ex. VP & CFO.  "The added equity
 financing facility allows the company to move aggressively to capture revenue
 opportunities in the growing embedded markets, expand its efforts with
 additional product enhancements and support the dynamic growth in VoiceXML
 opportunities."   Draws on the new equity line will require the company to
 issue shares of Fonix Class A common stock, under the same terms as the
 existing equity line.
 
     About Fonix Corporation
     Fonix Corporation (OTC Bulletin Board:   FONX) is a leading provider of
 natural-user-interface technology solutions for wireless and mobile devices,
 Internet and telephony systems, and vehicle telematics.  Leading chip
 manufactures, independent software and hardware vendors, and Internet content
 and service providers incorporate Fonix technology to provide their customers
 with an easier and more convenient user experience.  Fonix products, including
 Text-To-Speech (TTS), Automatic Speech Recognition (ASR), and Handwriting
 Recognition (HWR), provide the most natural communication solutions available.
 
     For further information please contact Media Information, Whitney Seamons,
 801-553-6600, mediarel@fonix.com, or Investor Information, Michelle Aamodt,
 801-328-0161, invrel@fonix.com, both of Fonix Corporation.
 
     Note:  The statements released by Fonix Corporation that are not purely
 historical are forward-looking within the meaning of the "Safe Harbor"
 provisions of the Private Securities Litigation Reform Act of 1995, including
 statements regarding the Company's expectations, hopes, intentions, and
 strategies for the future.  Investors are cautioned that forward-looking
 statements involve risk and uncertainties that may affect the Company's
 business prospects and performance.  It is important to note that the
 Company's actual results could differ materially from those in such forward-
 looking statements.  Risk factors including general economic, competitive,
 governmental, and technological factors as discussed in the Company's filings
 with the SEC on Forms 10-K, 10-Q and 8-K.  The Company does not undertake any
 responsibility to update the forward-looking statements contained in this
 release.
 
 SOURCE  Fonix Corporation