Speech Modules Update

31 July 2015

PeerTV PLC

("PeerTV" or the "Company")

Completion of Real Time Speech Recognition System Development by Speech Modules

PeerTV plc (AIM:PTV), a provider of technology solutions for the OTT (TV over the internet) market and PCB (printed circuit board) production solutions, announces that Speech Modules Holdings Limited (SMHL), a company in which PeerTV holds a 17.72% interest, has reported to the Tel Aviv Stock Exchange that it has completed the development of its real time online speech recognition system, which it is now ready to commercialise.

The system forms an integral part of the product being developed jointly by PTV and SMHL to provide automatic real time creation of subtitles for TV content. Passing this milestone will enable PTV to progress in its development towards a fully commercial product.

The online system transcribes the speech in real time and transfers the results to the speaker in intervals of approximately 0.5 seconds. The quality of the speech recognition is marginally short of the quality of offline recognition, which is conducted as batch process following the completion of the recording.

SMHL's core technology of real-time speech recognition has been implemented in an application for dictation, developed by SMHL, and is running on the Android platform and other systems, which demonstrates the ability of real-time speech recognition for various applications. To date, SMHL has developed a real-time recognition technology for English, Hebrew, Portuguese and Serbian.

Further enquiries:

PeerTV Plc

Eitan Yanuv, Chairman

Tel: +972 974 07315

ZAI Corporate Finance Limited

Tim Cofman / Richard Morrison

Tel: +44 20 7060 2220

Daniel Stewart & Company plc

David Coffman

Tel: +44 207 7766550