ATLANTA, GA, December 01, 2006 - Premiere Global Services, Inc.(NYSE: PGI), a global outsource provider of business process solutions, today confirmed receipt of notice from Crescendo Partners II, L.P., Series E of its intention to nominate two members to Premiere Global's Board of Directors and its proposal to amend the Company's Bylaws at the Company’s 2007 Annual Meeting of Shareholders.
The Company has a long standing policy of open communications with shareholders and welcomes input toward the goal of improving long-term value, but saw Crescendo’s press release and received Crescendo’s letter without having had any prior contact from Crescendo or one of its representatives.
The Company does not intend to make a recommendation on Crescendo’s nominees or proposal at this time and will present its formal recommendation in its definitive proxy statement to be filed with the Securities and Exchange Commission. The Company has not yet scheduled its 2007 annual meeting.
The Company noted that Premiere Global’s Board of Directors is comprised of a super-majority of independent directors and highly-qualified and proven executive leaders. Premiere Global's Board and management team are focused on creating value for its shareholders through the continued execution of its business plan.
About Premiere Global Services, Inc.
Premiere Global Services, Inc., formerly Ptek Holdings, Inc., is a leading global provider of innovative business communications and data services. Customers use our ASP platform to conduct traditional and VoIP-based collaboration sessions and to process and deliver large quantities of individualized, business critical information. Premiere Global offers outsourced document delivery, data capture, alerts/notifications and campaign management solutions that automate customers' business processes and improve efficiency levels enterprise-wide. We also offer a full suite of conferencing solutions, including automated, operator-assisted and Web collaboration services that enable customers to communicate real-time via our advanced, open standards global conferencing platform.
Premiere Global serves more than 46,000 corporate accounts in nearly every business sector, throughout 18 countries worldwide. Our corporate headquarters is located at 3399 Peachtree Road NE, Suite 700, Atlanta, GA 30326. Additional information can be found at www.pgi.com.
Forward-looking and cautionary statements
Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. A variety of factors could cause actual results to differ materially from those anticipated in Premiere Global Services’ forward-looking statements, including, but not limited to, the following factors: competitive pressures, including pricing pressures; technological change; the development of alternatives to our services; market acceptance of our new services and enhancements; integration of acquired companies; service interruptions; increased financial leverage; our dependence on our subsidiaries for cash flow; continued weakness in our legacy broadcast fax business; foreign currency exchange rates; possible adverse results of pending or future litigation or infringement claims; federal or state legislative or regulatory changes; general domestic and international economic, business or political conditions; and other factors described from time to time in our press releases, reports and other filings with the SEC, including but not limited the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2005 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2006. All forward-looking statements attributable to us or a person acting on our behalf are expressly qualified in their entirety by this cautionary statement.