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[July 13, 1999]

Teknekron Acquired By Greenwich Street Capital Partners

Teknekron Infoswitch Corp. announced its acquisition by Greenwich Street Capital Partners II, L.P., a leading Wall Street investment firm. This transaction positions the call center quality management software company to meet the increased demand for its Performance Suite line of products. Teknekron is the documented market leader for voice and data monitoring and evaluation solutions for call centers with a 60 percent market share (Frost and Sullivan).

"Teknekron anticipates this partnership will lead to great success for both companies," said Michael Tamer, Teknekron president and CEO. "We look forward to the increased access to capital and equity markets Greenwich Street brings to Teknekron. Greenwich Street is an experienced and diversified partner, and we are thrilled about their strong belief in our plan for growth and continued market dominance. We will continue to deliver comprehensive performance management solutions to Fortune 1000 companies," Tamer said.

"Teknekron is a valued member of our portfolio. We are very pleased to have acquired the premier high-tech vendor in one of the fastest growing markets today," said Thomas Inglesby, Managing Director of GSCP, Inc., which manages Greenwich Street Capital Partners II, L.P., and its affiliates. "We continue to expect great things from Teknekron's management team. We did a significant amount of research into Teknekron and believe that their leading market position, installed base and innovative technology will stimulate continued growth and success."

For Greenwich Street, Teknekron Infoswitch is an ideal purchase because it is the frontrunner in a fast-growing market projected to grow at a CAGR of 40% from 1998-2005, according to Frost & Sullivan estimates. Teknekron is a pioneer technology company with a long list of patents and market-changing technology inventions to its credit. Teknekron holds patents for the first automated call monitoring (AutoQuality) and online evaluation (P&Q Review) systems and for several Computer Telephony Integration (CTI) products, among others. Teknekron continues its leadership position for emerging technologies with its newest Performance Suite additions. JASS (Job Applicant Screening Simulator) was the first call center simulation product developed for improving hiring practices, and AutoSurvey is the first automated survey product to link immediate customer feedback to quality assurance call recordings.

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