Dictaphone to Keep Florida Manufacturing Facility.

STRATFORD, Conn.--(BUSINESS WIRE)--March 8, 1999--Dictaphone Corporation today announced that it intends to keep its Melbourne, Fla. manufacturing facility. The company had been exploring the sale of the facility.

The company, which recently received an equity investment of $20 million from its owners Stonington Partners of New York, said it made the decision to keep the plant, which manufactures printed circuit boards and other electronics components primarily for third parties, for financial and strategic business reasons. "Our Melbourne facility is one of the largest contract manufacturers in the industry," noted Joseph Skrzypczak, chief operating officer. "The continued growth and strong profitibility of the facility played a major role in our decision to retain the business."

Dictaphone Corporation of Stratford, Conn., is a leader in the development, manufacture, marketing, service and support of Integrated Voice and Data Management systems and software, which include dictation, voice processing, voice response, unified messaging, record management and communications recording. Dictaphone has a marketing, sales, service and support organization of more than 1,600 representatives in more than 160 cities in the U.S., the United Kingdom, Canada, Switzerland and Germany. The company also markets worldwide through a growing number of distributors in Europe, Latin America, Asia Pacific, South Central Asia, the Middle East and Africa. Company sales in 1997 were approximately $340 million.