With the ongoing demise of Lernout & Hauspie, there have been many questions
asked regarding the survival of Kurzweil (hitherto part of Lernout &
Hauspie). I therefore post the following announcement for general
information:

MANAGEMENT TEAM  ACQUIRES KURZWEIL EDUCATIONAL SYSTEMS GROUP FROM LERNOUT &
HAUSPIE


Management Buyout Ensures the Continued Availability of Leading-edge
Software for People with Reading Difficulties, Blindness and Low Vision.

November 14, 2001 - Burlington, MA.   The management of the Kurzweil
Educational Systems Group of Lernout & Hauspie Speech Products N.V. (L&H)
today announced that they have purchased the business and assets of the
group from L&H.  Kurzweil Educational Systems is the industry's leading
developer of innovative reading software for people with learning
disabilities, reading difficulties, blindness and low vision.
        Michael Sokol led the management buyout and will serve in the new
company as President and CEO.  Sokol was a founder in 1996 of Kurzweil
Educational Systems, Inc., along with technical visionary Ray Kurzweil who
will be a Director of the new entity, and Jerome Elkind who will be Chairman
of the Board.  Kurzweil Educational Systems, Inc. was acquired by L&H in
1998.
The new company will resume operations under its original name of Kurzweil
Educational Systems, Inc. and will remain headquartered in Massachusetts.
It will also continue to maintain sales offices in St. Petersburg, Florida
and Palo Alto, California along with its United States and international
reseller channels of distribution.
"From the outset we assembled a talented and dedicated management team which
remained intact at L&H and which will now be key to our success as an
independent entity," said Michael Sokol.  "Collectively, we are excited by
this opportunity to build on the reputation and leadership position we have
established in our industry.  This acquisition demonstrates our unwavering
commitment to those with disabilities who rely on our products."
Stephen Baum, Chief Technology Officer of the new company, commented, "Few
things are as rewarding as applying software innovation to improving the
lives of people with disabilities.  As an independent company, we will be an
organization that is totally focused on using our technical resources and
skills to extend the capabilities of our products. The ability to continue
to provide innovative reading and writing products that fulfil such a vital
need in the lives of our customers inspires us and will guide our future
success."
Kurzweil Educational Systems' current product line consists of Kurzweil
1000, an advanced reading tool for people who are blind or severely visually
impaired; Kurzweil 3000, a reading and writing tool for those who have
learning disabilities and other reading difficulties; and MagniReader, for
people who have low vision.

About Kurzweil Educational Systems
Kurzweil Educational Systems is the leading provider of software to help
people with learning disabilities, vision impairments and related
disabilities overcome or compensate for their reading and writing
difficulties so that they can lead more independent, productive and
enjoyable lives.  To this purpose, Kurzweil Educational Systems designs,
develops and markets Windows- and Macintosh-based scanning, reading, and
writing software that provides access to the full range of printed and
electronic information including books, magazines and content from the World
Wide Web.

Regards
Mervyn Robertson
www.sightandsound.co.uk