Voxware Announces Fiscal 2006 First Quarter Results

Continued Revenue Growth, Positive Operating Income, and Increases in Working Capital. LAWRENCEVILLE, NJ — November 1, 2005 – Voxware, Inc. (OTC: VOXW), a leading supplier of voice-driven solutions for the logistics workforce, announced financial results for the quarter ended September 30, 2005. Three Months Ended September 30 2005 2004 % Change (in thousands) (positive numbers indicate favorable variance, numbers in () indicate unfavorable variance) Total Revenues $ 5,379 $ 2,894 +86% Net (Loss) applicable to common stockholders $ (108) $ (702) +85%

“In this quarter the Company once again enjoyed strong results,” stated Tom Drury, Voxware’s CEO. “Revenues surpassed the $5.0 million mark for the second quarter in a row, and we again achieved positive operating income, equal to $121,000 in this quarter. After the exclusion of $415,000 in amortization of deferred employee compensation associated with stock option issuances (a non-cash item), operating income was $536,000. Voxware believes this is an important measure of overall financial health of the Company because it is more closely correlated to cash flow. Working capital stood at over $7 million at the end of the quarter.”

With its strengthened financial position, the Company continues its plans for growth with increased levels of spending in research and development along with sales and marketing over last year’s levels. R&D spending is focused on completing the Company’s next generation of products. Concurrently, sales and marketing is being enhanced to support these products and expand distribution channels.