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Wizzard Updates Status Of FAB Deal

Stocks in this article: WZE

Wizzard Software Corporation (NYSE Amex: WZE), the world’s leading podcast network, today released a brief update on the FAB transaction and the Home Healthcare (“HHC”) business spin-off.

“We have been working aggressively to sign the definitive, binding contracts for the FAB transaction and while there can be no guarantee of closing, we believe we will enter into these contracts in the next several business days,” says Chris Spencer, CEO Wizzard Software. “Upon signing of the definitive agreements, we plan to file the S-1 registration statement for the HHC spin-off to our shareholders, announce the date of record for the HHC transaction and move forward on our plans to increase shareholder value through substantial growth of our Media and Healthcare businesses.”

The proposed FAB transaction is subject to the signing of final closing documents, approvals by each company’s shareholders, the satisfaction of customary closing conditions and regulatory approvals both in the U.S. and China. There can be no guarantee that the contemplated transaction will come to a successful close.

About Wizzard Media:

Wizzard Media provides podcast publishers with distribution and monetization services. Our clients include Microsoft, National Geographic, Harvard Business Review, NPR and more than 10,000 others who use Wizzard Media products to measure their podcast audience, deliver popular audio and video entertainment and monetize their content through advertising and App sales and subscriptions. In 2011, the Wizzard Media Network received well over 1.64 billion podcast requests from approximately 50 million people worldwide through iPods, iPhones, iPads, iTunes, Blackberrys, Windows Phones, Zunes, Windows Media Center, Androids and many other devices and destinations. We are part of a publicly held, Pittsburgh based company with thousands of shareholders and a world-class team. Visit us on the web at  www.wizzardsoftware.com/media, email us at  contact@wizzard.tv.

Legal Notice

Legal Notice Regarding Forward-Looking Statements: "Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies and acts of terror against the United States.

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