Wizzard Software Corporation (NYSE Amex: WZE), the world’s leading podcast network, today announced that it plans to file the initial proxy statement with the SEC this week to request shareholder approval for the FAB acquisition and other related business items.

For the quarter ending December 31, 2011, FAB generated unaudited revenues of $21.4 million, versus revenues of $15.7 million in the same period for the prior year. For the quarter ending December 31, 2011, FAB had unaudited Net Income of $5.4 million, versus Net Income of $2.5 million in the same period for the prior year. As of December 31, 2011, FAB had Cash On Hand of $23.6 million.

Founded in 2003, FAB is headquartered in Beijing and is one of the largest distributors in China of copyrighted DVD’s, Blu-ray Discs, music CD’s, video games and downloadable digital content through three distribution channels – wholesale and retail, vending kiosks and internet stores.

The acquisition of FAB contemplated in this press release is subject to approval by both Companies’ shareholders, the satisfaction of customary closing conditions and exchange and regulatory approvals both in the U.S. and China.

Detailed information on the transaction can be found at www.sec.gov in Wizzard’s 8K filing.

FAB:

www.wizzardsoftware.com/fab.php

www.fab123.com

About Wizzard Media:

Wizzard Media provides podcast publishers with distribution and monetization services. Our clients include Microsoft, National Geographic, Harvard Business Review, NPR and more than 10,000 others who use Wizzard Media products to measure their podcast audience, deliver popular audio and video entertainment and monetize their content through advertising and App sales and subscriptions. In 2011, the Wizzard Media Network received well over 1.64 billion podcast requests from approximately 50 million people worldwide through iPods, iPhones, iPads, iTunes, Blackberrys, Zunes, Androids and many other devices and destinations. We are part of a publicly held, Pittsburgh based company with thousands of shareholders and a world-class team. Visit us on the web at www.wizzardsoftware.com/media, email us at contact@wizzard.tv.

Legal Notice

Legal Notice Regarding Forward-Looking Statements: "Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies and acts of terror against the United States.

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