Fonix To Acquire LecStar Telecom

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 25, 2003 -- Fonix To Acquire LecStar Telecom



LecStar's 2003 Revenue Expected to Reach $16 Million -- Transaction Provides Fonix with Substantial New Revenue and Distribution Channels for Its Speech Solutions

Fonix(R) Corp. (OTC BB: FNIX), an international provider of leading speech interface solutions, announced today that it has signed an agreement in principle to acquire all of the capital stock of LTEL Holdings Corp. Privately held LTEL has two wholly owned subsidiaries, LecStar Telecom Inc., an Atlanta-based competitive local exchange carrier, and its sister company, LecStar Datanet Inc., a provider of Internet services to business and residential customers. The stock and debt transaction will involve consideration valued at $33 million. The transaction provides seller financing on terms favorable to Fonix.

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