The Board of Directors of Bogen Communications International Inc. declared a special cash dividend of $0.55 per common share, payable on December 20, 2012, to shareholders of record on December 11, 2012, subject to bank approval. If bank approval is not received, some or all of the dividend may not be paid. It is anticipated that approximately $0.06 to $0.08 of the dividend will qualify as an ordinary dividend and the remainder as return of capital or capital gain depending on shareholder basis.

The allocation noted above is subject to change upon completion of the financial statements of the company.