The Chinese University of Hong Kong, SpeechWorks and IVRS Partner to Develop the First Bilingual Conversational System for Hong Kong

Public Can Now Call +852.2603.7884 To Talk To The CU FOREX System

HONG KONG and BOSTON, Mass.-SpeechWorks International, Inc. (SpeechWorks), the leading provider of conversational speech recognition technology and products for over-the-telephone solutions, today announced the CU FOREX Hotline, the world's first speech-activated phone system to provide real-time foreign exchange quotes to callers speaking Cantonese and English. The CU FOREX Hotline was developed by The Chinese University of Hong Kong (CUHK) Department of Systems Engineering and Engineering Management. The University has a long history of research and solid experience in Cantonese speech technologies, and is making headway in developing multilingual technologies for the languages of Hong Kong. In this collaboration, SpeechWorks provided the award-winning SpeechWorks® 5.0 speech recognition technology. IVRS (International) Limited, a leading high-end telephony business solutions company is contributing its expertise in computer telephony by using the InterVoice interactive voice response platform and InterVoice's InVision™ call flow development tool.

Beginning today, anyone can call +852.2603.7884 to access the hotline in Hong Kong. The system greets callers with, "Welcome to CU FOREX. Which language would you prefer, Cantonese or English?" Once the caller chooses a language, the system responds with, "Please select exchange rates or interest rates." Through a friendly, intuitive dialogue, the caller speaks the request and the system provides the answer. The CU FOREX Hotline can quote over 32 different foreign exchange rates based on a real-time satellite feed, generously donated by Reuters, for research and development at the University.

Callers familiar with the CU FOREX hotline may also use the "Power Users' Line" at +852.2603.7830. The system at this phone line can understand complete sentences, which provides a natural language shortcut to bypass the step-by-step inquiry process. For example, users can simply ask, "I'd like the three-month interest rate of the Japanese Yen," and the system immediately retrieves the interest rate.

Hong Kong is ideally suited for speech applications such as CU FOREX. In addition to being a major international financial hub with a multi-lingual populace, Hong Kong has over half the people using mobile phones regularly. The hotline makes it easy for the public to attain real-time financial information from the convenience of any phone.

"We are proud to develop the world's first bilingual conversational system for the languages of Hong Kong," said Professor Ching Pak Chung, dean of the Faculty of Engineering, CUHK. "The hotline is available for the public to gain first-hand experience with state-of-the-art telephone speech technologies so they can become accustomed to using the speech interface in everyday applications. The future of speech systems is endless, and we look forward to continuing our collaboration to develop exciting new speech technologies and applications."

CU FOREX is based on SpeechWorks 5.0 award-winning speech recognition technology currently in use at the Singapore Stock Exchange, FedEx/NEXTLINK, Hewlett-Packard, United Airlines and other global companies. These systems allow users to speak into the telephone naturally to get information and complete transactions.

"SpeechWorks solutions are in great demand throughout Asia because we have the best technology for giving callers a far more natural and convenient interface than traditional touch tone phone menus," said Arthur Goh, general manager, Asia-Pacific Singapore Headquarters, SpeechWorks. "Together with our partners, and through our Asian research and development center, we are producing some of the most powerful speech systems in the world, making the telephone the ultimate thin client."

"We have gained a leading position in the market by continuously supplying our customers with innovative business solutions. Speech recognition gives our customers real benefits, by improving customer service while reducing cost. This enhances the competitive edge of our growing number of customers in Hong Kong," said Raymond Cheung, managing director of IVRS.

The CU FOREX Hotlines will be available for the public to call through November 1999.

About CUHK

Established in 1963, The Chinese University of Hong Kong (CUHK) is a major comprehensive university offering a wide range of multi-disciplinary courses and dedicated to excellence in both teaching and research. The University is committed to the advancement of knowledge and application of state-of-the-art technology in fostering local industries. The Engineering Faculty of CUHK excels in advanced electronics, wireless communication, information technology, Chinese computing, biomedical technologies, etc. which is well-reflected in the achievements of its alumni, as well as the vast number of technology transfer activities. The Faculty has years of solid experiences and is reputed in the development of spoken language technologies. In light of the special language environment in Hong Kong, research on Cantonese, Putonghua and English speech technologies are particularly emphasized. For more information, please visit http://www.cuhk.edu.hk

About IVRS

Established in 1992, The IVRS Group is one of Asia's leading telecommunications and IT solutions providers. The Group provides interactive voice response systems and computer telephony integration solutions to customers from a broad cross-section of industry sectors. The IVRS Group of companies includes IVRS (International) Limited, Global Interactive Technology and Interactive Technology Limited. Headquartered in Hong Kong, the Group also has offices in Singapore and Malaysia. The Group has developed, implemented and maintained applications and systems that support some of the region's most well-known companies including Aeon, ABN AMRO, Development Bank of Singapore, DHL, HKCTL, Hewlett-Packard, the Hong Kong SAR Government, MTRC and Standard Chartered Bank. For more information about the IVRS Group, please call 852.2893.3776.

About SpeechWorks International, Inc.

SpeechWorks International, Inc. is the creator of SpeechSite™, the first solution to bring the Web model of self-service to the phone, enabling corporations to greet callers, route their calls and respond to requests 24 hours a day, seven days a week. SpeechSite is based on the company's award winning, multi-language solution, SpeechWorks 5.0, a solution that sets a new standard in speech-enabled e-business with unprecedented recognition accuracy and ease of deployment. SpeechWorks' customer base is comprised of over ten of the Fortune 100 and includes BellSouth, Continental Airlines, E*TRADE, Guardian, Hewlett-Packard, McKesson HBOC, NEXTLINK/FedEx and United Airlines among many others.

Headquartered in Boston, Massachusetts, with offices worldwide, SpeechWorks is a privately-held corporation with financing from venture capital firms, Intel Corporation and SAP. The company's solutions incorporate several patented technologies, and are based on research originally conducted at the Massachusetts Institute of Technology. For additional information, call +617.428.4444 in Boston, +65.320.8449 in Singapore, or visit http://www.speechworks.com.