ScanSoft Signs $10.0 Million Revolving Credit Facility with Silicon Valley Bank

PEABODY, Mass., November 1, 2002 - ScanSoft, Inc. (Nasdaq: SSFT), a leading supplier of imaging, speech and language solutions, today announced that it has closed a two-year, $10.0 million secured credit facility with Silicon Valley Bank. The credit facility can be used for general working capital purposes as well as merger and acquisition activities.

"We look forward to building a long-term relationship with Silicon Valley Bank, widely regarded as one of the most astute lenders to technology companies," said Paul Ricci, chairman and CEO of ScanSoft. "In this difficult environment, where few banks are providing lending facilities to software companies, we view this transaction as an affirmation of ScanSoft's competitive strengths. This facility will provide us with additional flexibility to respond to future opportunities."

"ScanSoft has grown substantially in the past 18 months, expanding its imaging business while establishing its presence in the speech market," said Ken Wilcox, president and CEO, at Silicon Valley Bank. "With a global customer base and highly regarded productivity solutions, we are excited to add ScanSoft to our portfolio of technology clients."

About Silicon Valley Bank

Silicon Valley Bank serves emerging growth and mature companies in the technology and life sciences markets, as well as other targeted industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the Bank serves more than 9,500 clients across the country through 27 regional offices. More information on the Bank can be found at www.svb.com.

About ScanSoft, Inc.

ScanSoft, Inc. (Nasdaq: SSFT) is a leading supplier of imaging, speech and language solutions that are used to automate a wide range of manual processes - saving time, increasing worker productivity and improving customer service. For more information regarding ScanSoft products and technologies, please visit www.scansoft.com.

ScanSoft is a registered trademark of ScanSoft, Inc. in the U.S. and other countries. All other company names and product names mentioned herein may be the trademarks of their respective owners.

Safe Harbor Statement
Except for the historical information contained herein, this press release includes forward-looking statements within the meaning of Section 21(e) of the Securities Exchange Act of 1934. These forward-looking statements include statements regarding whether ScanSoft will utilize the credit facility in the future and proposed uses of the credit facility. These statements are based on ScanSoft's current expectations and estimates as to prospective events and circumstances that may or may not be in ScanSoft's control and as to which there can be no firm assurances given. These forward-looking statements are subject to risks and uncertainties, there can be no assurance that any of these forward-looking statements may prove to be correct and actual results may differ materially. These risks and uncertainties include, but are not limited to, the risks related to the company's ability to identify and complete merger and acquisition activities and the terms and conditions under which ScanSoft is able to borrow funds under the credit facility. A detailed discussion of other risks and uncertainties that could cause actual results to differ materially from such forward looking statements is included in ScanSoft's most recent filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended December 31, 2001. ScanSoft disclaims any intent or obligation to update these forward-looking statements.

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