Voxware Announces Reverse Stock Split

LAWRENCEVILLE, NJ — December 12, 2005 – Voxware, Inc. (OTC: VXWR), a leading supplier of voice-based solutions for the logistics workforce, announced a one-for-one hundred fifty reverse stock split effective 9:00 a.m. Eastern time, Monday, December 12. Concurrently, Voxware’s trading symbol on the OTC Bulletin Board will be changed from “VOXW” to “VXWR”.

“This reverse stock split represents the achievement of the next milestone in Voxware's overall plan to reposition the Company for increasing shareholder value,” stated Tom Drury, Voxware’s CEO. “In August of this year, the Company completed financing designed to convert all preferred shares to common shares, resulting in a single class of common stock outstanding. As a result, all shareholders are now able to share equally in the progress of our business. Adding to that step, today’s reverse stock split paves the way for our Company to apply for listing on NASDAQ’s Capital Market. We believe the Company’s financial positioning and continued expansion in the marketplace warrant greater visibility in the financial markets to a wider range of institutional, as well individual, investors.”

Each 150 shares of Voxware common stock outstanding and held by each stockholder of the Company immediately prior to the effective time shall be reclassified and combined into one share of common stock automatically and without any action by the holder. No fractional shares of common stock shall be issued as a result of such reclassification. In lieu of any fractional shares to which the stockholder would otherwise be entitled, the Company shall pay cash equal to such fraction, multiplied by the closing price of the stock on Friday, December 9, 2005. Following the reverse split, the number of shares of Common Stock outstanding will decrease to approximately 6,257,700.