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Exhibit 99.1
Vialog Extends Exchange Offer for Senior Notes
BEDFORD, Mass.--September 18, 2000--Vialog Corporation (AMEX: VX), a
leading provider of audio, video and Internet conferencing services, announced
today that its pending exchange offer for its 12.75% Senior Notes has been
extended until October 31, 2000. Pursuant to the exchange offer, which had been
scheduled to expire on September 15, Vialog is offering to exchange shares of a
newly created series of convertible preferred stock and cash for its outstanding
Senior Notes.
Vialog also reported that its continuing discussions with several
major financial institutions to arrange the financing necessary for the exchange
offer are proceeding well and that Vialog is optimistic that the necessary
financing will be available prior to the October 31 expiration of the exchange
offer. However, the Company will not be able to complete the exchange offer if
it does not obtain the necessary financing.
The Company also stated that it anticipates receiving new lock-up
letters from most of the holders of the Senior Notes who had executed lock-up
letters earlier this year agreeing to support the exchange offer.
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
www.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.
Contact:
Vialog
Michael E. Savage, (978) 975-3700
