Exhibit 99.1
FOR IMMEDIATE RELEASE
Contact: Andrea Steller
Phone: 650-802-7740
E-mail: asteller@cic.com
CIC APPOINTS CHIEF FINANCIAL OFFICER AND
CONCURRENTLY ENGAGES NEW AUDIT FIRM
Redwood Shores, CA, December 14, 1999 - (Nasdaq: CICI) Communication
Intelligence Corporation (CIC) announced today that Marjorie L. Bailey, CPA
has been named as the Company's Vice President of Finance and Chief Financial
Officer. The Company also announced that it has retained Stonefield Josephson
Accountancy Corporation as their independent auditors.
The appointment of Ms. Bailey follows an extensive search focused on locating
a candidate with the technical abilities, capital market expertise,
communication and leadership skills that will strengthen and complement the
current management team. As an experienced Chief Financial Officer, Ms.
Bailey brings a wealth of experience to the team. This includes SEC reporting
experience and the proven ability to manage, build and maintain an effective
finance department and the skills that a Chief Financial Officer of a public
company needs to communicate effectively with existing and prospective
investors.
Guido DiGregorio, CEO stated, "I am pleased that Marjorie has decided to join
CIC. Filling of the CFO position represents another planned step in CIC's
reorganization that commenced approximately two years ago when I took over as
the Company's President. I am confident that Marjorie's skill set will prove
invaluable towards achieving our financial objectives and effectively
communicating that progress to the financial community."
CIC's reorganization was accompanied by the implementation of a business
strategy that focused on four market segments: (1) accelerate sales growth
through original equipment manufacturers (OEM's), primarily handheld
organizers and cellular Smartphone manufacturers; (2) accelerate the sale of
aftermarket consumer software offerings over the internet via the Company's
web site and selected on-line resellers; (3) establish sustainable sales
growth with enterprises by leveraging CIC technologies including digital
signature capture and verification for both corporate security and e-commerce
applications; and (4) leverage the company's China joint
venture to establish and accelerate sale of its Chinese handwriting and other
software products to OEM's and enterprises in the growing PRC market.
This strategy has resulted in consistent progress toward CIC's overall goal
of positioning strategically in the right market segments with the right
partners to achieve accelerated and sustained earnings growth. Most recently,
the Company's progress has been evidenced by the completion of key licensing
agreements with major OEM's including: National Semiconductor for a wireless
internet appliance called the WebPad, and Ericsson to bundle CIC's core
technologies on Ericsson's new smart phone offerings, the first of which is
the R380. Additionally, CIC has recently announced a new version of Sign-It
- -TM- that extends the full functionality of CIC's e-signature solutions to
corporate and enterprise users of Palm connected organizers. This year CIC
has also introduced WordComplete -TM-, RecoEcho -TM-, Sign-On -TM- and
InkSnap -TM-, four new consumer software solutions targeted at the growing
community of nearly 5 million installed users of Palm connected organizers.
CIC's domestic progress has been supplemented by the progress of
Communication Intelligence Computer Corporation (CICC), a 90% owned Chinese
joint venture. CICC has recently announced the licensing of its Chinese
Handwriting Recognition System 2000 to Wacom for Wacom's Chinese market
tablet offering. CICC has also licensed its PenTools -TM- product to HiSense
Software Co. for integration into HiSense's office automation system offering.
ABOUT CIC
Communication Intelligence Corporation (CIC) is the leading supplier of
pen-based software solutions. The Company's core software technologies
include multilingual handwriting recognition systems, dynamic signature
verification, ink compression, and operating system extensions that enable
pen input. CIC's products are designed to increase the ease of use,
functionality, and security of mobile electronic devices ranging from
handheld companions to cellular phones. Key licensees of the Company's
technologies include Ericsson, Fujitsu, Hitachi, Microsoft, Mitsubishi,
National Semiconductor, and Nortel. CIC is headquartered in Redwood Shores,
California and has a joint venture, CICC, in Nanjing, China. For more
information about CIC and its products please visit our website at
www.cic.com.
Certain statements contained in this press release, including without
limitation, statements containing the words "believes", "anticipates", "hopes",
intends", "expects", and other words of similar import, constitute "forward
looking" statements within the meaning of the Private Litigation Reform Act of
1995. Such statements involve known and unknown risks, uncertainties and other
factors which may cause actual events to differ materially from expectations.
Such factors include the following (1) technological, engineering, quality
control or other circumstances which could delay the sale or shipment of
products; (2) economic, business, market and competitive conditions in the
software industry and technological innovations which could affect the Company's
business; (3) the Company's inability to protect its trade secrets or other
proprietary rights, operate without infringing upon the proprietary rights of
others or prevent others from infringing on the proprietary rights of the
Company; and (4) general economic and business conditions and the availability
of sufficient financing.
CIC, its logo, and Jot are registered trademarks of Communication Intelligence.
Sign-it is a trademark of CIC. All other trademarks are properties of their
respective owners.