Stevens Communications Announces Sales Agreement With Latitude Communications

Business Wire, Jan 8, 1996

CHICAGO--(BUSINESS WIRE)--Jan. 8, 1995-- Stevens Communications, the nation's premier value-added reseller of voice recording systems, today announced that it has signed a sales agreement with Latitude Communications of Santa Clara, California --- a leading provider of premises-based audioconferencing systems. The agreement enables Stevens to sell Latitude's MeetingPlace(TM) conference server and related products in New York, Chicago and Boston --- major metropolitan areas where Stevens maintains offices and has an installed base of more than 1,000 financial-market customers.

MeetingPlace is a new approach to audioconferencing that helps companies conduct more productive conference calls. The industry's first conference server, MeetingPlace integrates with a company's telephone, data and e-mail networks to allow users to easily schedule and attend conference calls from their desktop PC, laptop or touchtone phone. According to the International Teleconferencing Association, the market for audioconferencing systems like MeetingPlace will continue to grow rapidly --- reaching an estimated $1.5 billion in 1995, a nearly 50 percent increase over 1993 figures. A key supplier of communications solutions to the banking and investment community, Stevens Communications is increasing its focus on conferencing technologies --- offering a range of complimentary products, from premises-based audioconferencing systems to desktop video and document sharing applications. "MeetingPlace, quite simply, represents the next-generation in audioconferencing," said Steve Kaiser, president of Stevens Communications. "The system's high-technology design and advanced meeting management features make it a valuable addition to our conferencing line."

"We are pleased to have Stevens Communications join our expanding roster of value-added resellers and distributors," stated Emil Wang, president and CEO of Latitude Communications. "The company's strong presence on Wall Street supports a large and growing market for the MeetingPlace system, where timely dissemination of financial information can make, or break, a business transaction."

About Latitude Communications

Latitude Communications develops products to enable companies to conduct more productive business meetings among people in different locations. Its flagship product, MeetingPlace(TM), is the industry's first conference server --- a customer premises system that allows users to arrange and manage audioconferences from their touchtone phone or PC.

Headquartered in Santa Clara, California, Latitude markets its products through direct sales and distributors. The company has offices in Boston, New York, Chicago and San Francisco and has plans to expand to other major metropolitan areas. Latitude can be reached at 408/988-7200 or via the Internet at info@latitude.com.

About Stevens Communications

Stevens Communications is the largest independent value- added reseller of transaction recorders in the U.S. Founded in 1987 and headquartered in Chicago, the company has completed more than 1,500 system installations for a range of companies including major banks and Wall Street brokerage firms. Its products and services offering comprises both recording (digital, VHS and reel-to-reel) and conferencing (audio, video and data) systems. Stevens Communications has offices in New York City and Boston and can be reached at 312/226-6543.

CONTACT: Latitude Communications

Joe McFadden, 408/988-7200

or

Stevens Communications

Steve Kaiser, 312/226-6543