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ABBYY USA and Panasonic Form Strategic Technology Licensing Partnership

Agreement Leverages ABBYY’s Flagship FineReader® Professional OCR Application with Panasonic KV Series Workgroup Scanners


Fremont, Calif., March 9, 2006 – ABBYY USA today announced it has formed a strategic technology licensing partnership with Panasonic through which Panasonic will include ABBYY’s FineReader® Professional OCR application with its color duplex and simplex workgroup class scanners.

“For more than a decade, Panasonic has provided the document imaging industry with one of the most complete professional scanner lines that range from affordable color workgroup scanners at the low end to the speedy, heavy-duty models.” said Yoji Kubo, Panasonic, Senior Coordinator, Imaging Product Planning Team . “We’re pleased to offer our customers the most accurate and powerful OCR technology today through this agreement.”

“The workgroup segment is the fastest growing scanner market, with color being an integral piece of that puzzle,” said Jonathan Franke, Senior Research Analyst, Dynamic Content Software Strategies, InfoTrends. “Part of the appeal of scanners in this category is that the performance for price value is very attractive. We expect more customers in this category to be looking for scanning solutions, not just scanners, and they are increasingly demanding software such as OCR as part of a scanning solution.”

“ABBYY technology is bundled with the most advanced document and image scanners in the marketplace and this collaboration with Panasonic is no exception,” said Dean Tang, president and chief executive officer of ABBYY USA. “With the Panasonic workgroup scanners, we’ve expanded our partnership base once again and offer our award-winning FineReader OCR application to distributed and front-office scanning environments targeted by Panasonic.”

About ABBYY FineReader Professional

ABBYY FineReader Professional Edition is an ideal OCR application for users who demand the highest level of recognition accuracy and format retention. An excellent time-saving solution, FineReader OCR allows you to convert and edit a variety of paper documents and electronic files, including PDF files and scanned pages of books, magazines, newspapers, legal documents, contracts, faxes, letters, brochures and much more.


About ABBYY USA

ABBYY USA is a member of the ABBYY Software House Group, a world leader in document recognition and linguistic technologies. ABBYY specializes in the development of software for optical character recognition (OCR), intelligent character recognition (ICR), linguistics, semantics, and electronic lexicography. Leading products from ABBYY include the FineReader line of OCR, ICR and barcode software, and FineReader development tools. Companies that license ABBYY OCR/ICR technologies include Anoto (C-Technologies), Autonomy (Verity), Banctec, BenQ, EMC (Captiva, SWT, Documentum), EPSON, Freedom Scientific, Fujitsu, Hewlett-Packard, Kurzweil, Kofax (LCI, Neurascript), Microtek, NewSoft, Notable Solutions, Panasonic, ReadSoft, Samsung Electronics, Saperion, Siemens Nixdorf, Stellent, Sumitomo Electric Systems, and Toshiba. The ABBYY Group Headquarters are located in Moscow with offices in Ukraine (ABBYY Ukraine), the United States (ABBYY USA, Fremont, CA), the UK (ABBYY UK, Bishops Stortford, England), and Germany (ABBYY Europe, Munich).

For more information, contact ABBYY USA, 47221 Fremont Boulevard, Fremont, CA 94538. Phone: (510) 226-6717. Fax: (510) 226-6069. E-mail: info@abbyyusa.com.

About Panasonic

Best known by its Panasonic brand name, Matsushita Electric Industrial Co., Ltd. is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of US $81.44 billion for the year ended March 31, 2005. The company's shares are listed on the Tokyo, Osaka, Nagoya, New York (NYSE:MC), Euronext Amsterdam and Frankfurt stock exchanges. For more information on the company and the Panasonic brand, visit the company's website at http://panasonic.co.jp/global/index.html.

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