AppTek News & Press Releases / AppTek Inc. Completes a Management Buy-Out Agreement:

McLean, VA - AppTek, Inc., a leading technology developer of state-of-the-art applications in computational linguistics and linguistic software (" Lingware") has recently completed a successful management buy-out from L&H.

This buy-out, led by AppTek's original founders and senior management team, was completed in December 2001. AppTek's extensive experience has placed the company at the leading edge of technological innovation in Natural Language Processing (NLP) and Machine Translation (MT). With this MBO, AppTek re-establishes itself as a major MT player in the United States, Europe, and the Middle and Far East.

"We are delighted to have successfully completed this buy-out agreement," said Mudar Yaghi, Co-Chairman and Chief Executive Officer. "Our senior management team is now ready to unleash new business and marketing strategies. I am very confident of AppTek's future growth."

AppTek, Inc., based in McLean, VA, has developed industry-level Machine Translation Systems for English, Chinese, Korean, Arabic, Turkish and Persian. Some of these language pairs are the first of their kind. Other AppTek products include TranSphere ™, TransMem, TextFinder™, NameFinder™ and WebTrans™.

For more information on the company or its products and services, please contact AppTek at (703) 821-5000.