<PAGE>
Exhibit 99.2
[LETTERHEAD OF VIALOG.]
FOR IMMEDIATE RELEASE
FRIDAY, JUNE 23, 2000
VIALOG EXTENDS EXCHANGE OFFER FOR SENIOR NOTES
BEDFORD, Mass--June 23, 2000--Vialog Corporation (AMEX: VX), a leading provider
of audio, video and Internet conferencing services, announced today that it has
extended completion of its previously announced exchange offer for its 12.75
percent Senior Notes. Vialog is offering to exchange shares of a newly created
series of convertible preferred stock and cash for its outstanding Senior Debt.
The exchange offer will now expire on July 31, 2000, with a new target date of
August 31, 2000 for consummation of the exchange.
Vialog intends to use $75 million in a senior secured syndicated loan facility
to finance the exchange offer. In this process, it has worked closely with two
major financial institutions, which originally committed to provide the $75
million, but due to current conditions in the credit market notified the company
this week that they would use their best efforts to complete the financing.
However, if the company is unable to obtain the necessary financing, it will not
be able to complete the exchange offer.
The company stated that it is requesting an extension from those holders of the
Senior Notes who had executed lock-up letters earlier this year agreeing to
support the exchange offer.
Vialog's president and chief executive officer, Kim Mayyasi, said, "We are
realizing significant EBITDA growth through our successful call center
consolidation and reduced long distance expenses. Further, refinancing of our
senior debt would significantly reduce our interest expense and enhance earnings
per share, which is an element of our strategic plan for the year 2000. However,
current conditions in the credit markets are such that we are not yet able to
consummate the exchange offer at this time. We remain optimistic about obtaining
the necessary financing and expect to complete the exchange of the Senior Notes
later this summer."
-more-
<PAGE>
Vialog Corporation
Add-1-
Mayyasi noted, "Vialog has had a string of major successes over the first six
months of this year, including the recent addition of several important new
clients, including R.R. Donnelley & Sons, Cablevision Systems, Hallmark Cards,
Freddie Mac and Hughes Network. We look forward to continued growth in our
business during the second half of this year and beyond."
About Vialog
Vialog is a leading provider of teleconferencing services, including
audioconferencing, videoconferencing, web presentation; and messaging services,
such as voicemail broadcast, e-mail broadcast and fax broadcast. Vialog helps
its more than 6,000 corporate customers communicate more professionally,
efficiently and effectively by delivering superior customer service and an
extensive range of enhanced and customized conferencing solutions. Vialog's
common stock (symbol: VX) is quoted on AMEX. For more information, visit
Vialog.com for direct, online access to Vialog's conferencing and messaging
services.
Statements in this press release that are not based on historical facts may be
considered forward-looking statements that involve risks and uncertainties,
including but not limited to: changes in the market, new products and
announcements from other companies, changes in technology, and the impact of
competitive products and pricing. Additional information on the factors that
could affect the company's financial results is included in the company's 1999
Form 10-K and other company reports, which are filed with the Securities and
Exchange Commission.
For further information regarding Vialog free of charge,
Via fax dial 1-800-PRO-INFO and use the company code VX.
Or visit the Vialog Corporation website at www.vialog.com
--------------
To schedule any of Vialog's services online, go to www.WebConferencing.com
-30-
