MELVILLE, N.Y., May 1 /PRNewswire/ -- Andrea Electronics Corporation (Amex: AND) announced today that it has retained Dain Rauscher Wessels as its exclusive financial advisor to assist the Company in exploring a variety of strategic alternatives in order to enhance its position as a leading provider of digital-based microphone hardware and software solutions which enable natural language interfaces for computing and communications.

"Andrea has numerous opportunities in high-growth, emerging markets, and we are working aggressively to deploy resources and develop our business to increase shareholder value and realize the full potential of the Company", said Christopher P. Sauvigne, President & Chief Operating Officer of Andrea Electronics Corporation. "Dain Rauscher Wessels will help us explore alternatives and potential strategic relationships for addressing those opportunities."

The Company said there can be no assurance that any business combination or other transaction will be effected or, if effected, what the timing and terms of any such transaction would be. In addition, the Company stated it would have no further public comment on this subject unless there is a proposed transaction.

About Andrea Electronics:

Andrea Electronics Corporation designs, develops and manufactures audio technologies and equipment for enhancing applications that require high performance and high quality voice input. The Company's patented Active Noise Reduction (ANR READY(R)) earphone, Active Noise Cancellation (ANC) near-field microphone, patented Digital Super Directional Array (DSDA(R)) and patent-pending Directional Finding and Tracking Array (DFTA(TM)) far-field microphone technologies enhance a wide range of audio products to eliminate background noise and ensure the optimum performance of voice applications. Applications for the Company's technologies include: speech recognition programs, Internet telephony, video/audio conferencing, automobile PCs, home automation systems, hand-held devices and multiplayer online games, among others. OEM and software publisher customers and strategic partners of Andrea Electronics' include: IBM Corporation, Intel Corporation, BMW of North America, Inc., Donnelly Corporation, Symbol Technologies, Inc., Clarion Corporation of America, Microsoft Corporation, ScreenFriends Corporation, Audio-Technica, U.S., Inc., DeltaThree.com, Lotus Development Corporation, Fonix Corporation, Centra, Logitech, Inc., Net2Phone, Inc., Voyetra Turtle Beach, Inc. and ZeroPlus.com, among others. Visit Andrea Electronics' websites at http://www.AndreaElectronics.com or http://www.AudioCommander.com or call 1-800-707-5779.

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," variations of such words, and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and involve matters that are subject to certain risks, uncertainties and assumptions that are difficult to predict, including economic, competitive, governmental, technological and other factors, that may affect the business and prospects of Andrea Electronics Corporation (the "Company"). The Company cautions investors about the following significant factors, which, among others, have in some cases affected the Company's actual results and are in the future likely to affect the Company's actual results and could cause them to differ materially from those expressed in any forward- looking statements: the rate at which Andrea Anti-Noise, DSDA, DFTA and other Andrea technologies are accepted in the marketplace; the competitiveness of Andrea Anti-Noise, DSDA, DFTA and other Andrea products in terms of technical specifications, quality, price, reliability and service; the sufficiency of the Company's funds for research and development, marketing and general and administrative expenses; infringement and other disputes relating to patents and other intellectual property rights held or licensed by the Company or third parties; and the Company's continuing ability to enter and maintain collaborative relationships with other manufacturers, software authoring and publishing companies, and distributors. No assurance can be given that the Company will achieve any material sales or profits from the products introduced in this release. These and other similar factors are discussed under the heading "Cautionary Statement Regarding Forward-looking statements" included in the Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Annual Report on Form 10-K and in the Company's Annual Report to shareholders, and in documents subsequently filed by the Company with the Securities and Exchange Commission.

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SOURCE: Andrea Electronics Corporation

CONTACT: At Andrea Electronics - Richard A. Maue, Chief Financial Officer, or Lauren Smith, Marketing Communications Manager, 800-442-7787/