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INTER-TEL (DELAWARE), INCORPORATED

 

(Name of Registrant as Specified In Its Charter)

 

STEVEN G. MIHAYLO

VECTOR CAPITAL CORPORATION

SUMMIT GROWTH MANAGEMENT LLC

THE STEVEN G. MIHAYLO TRUST

CHRISTOPHER G. NICHOLSON

INTL ACQUISITION CORP.

 

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Steven G. Mihaylo (“Mr. Mihaylo”) and Vector Capital Corporation (“Vector”) issued the following statement to The Arizona Republic:

 

“Once again, the company provided no quantitative guidance for the upcoming quarter or for 2007.  Shareholders are left in the dark on how to compare our $23.25 offer against management’s stay-the-course plan.”

 

“Despite the introduction of the 5600 series, the company saw no growth in customers with over 100 lines.  In our view, this does not portend well for the success of the 5600 product, and even management admits that sales of the 5600 ‘did not meet expectations’.  More disturbing, the 7000 series product is aimed at even larger line segment customers.  We believe this is not a good sign from a company who says ‘trust us’ regarding its product strategy and future outlook.”

 

Mr. Mihaylo and Vector have also issued a press release. A copy of the press release is attached as Exhibit 1.

 

 

Exhibit 1:

Press release issued by Steven G. Mihaylo and Vector Capital Corporation