|[November 07, 2006]
Inter-Tel Confirms Mihaylo Resolution Failed to Pass
TEMPE, Ariz. --(Business Wire)-- Inter-Tel (Delaware), Incorporated (Nasdaq: INTL) today announced that the "Sell the Company" resolution proposed by Inter-Tel's former CEO Steven G. Mihaylo was rejected by Inter-Tel stockholders at the Company's October 24, 2006 Special Meeting of Stockholders. According to IVS Associates, Inc., the independent inspector of elections, who tabulated and certified the results, 11,272,46 shares were voted against the Mihaylo Resolution, representing slightly over 50% of the 22,524,535 shares of the Company's common stock that were represented in person or by proxy. Stockholders who voted, other than Mr. Mihaylo, rejected the resolution by approximately a two to one margin. Mr. Mihaylo owns approximately 19.4% of Inter-Tel's outstanding common shares.
About Inter-Tel (Delaware), Incorporated
Inter-Tel (Nasdaq: INTL) offers value-driven communications products; applications utilizing networks and server-based communications software; and a wide range of managed services that include voice and data network design, traffic provisioning, and financial solutions packages. An industry-leading provider focused on the communication needs of business enterprises, Inter-Tel employs approximately 1,900 communications professionals, and services business customers through a network of 58 company-owned, direct sales offices and approximately 350 authorized providers in North America, the United Kingdom, Ireland, Australia and South Africa. More information is available at www.inter-tel.com.
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