EXHIBIT 99.1

News Release

FOR IMMEDIATE RELEASE

CONTACTS
Intervoice, Inc.
Craig Holmes
Chief Financial Officer
+1 (972) 454-8708

35-03

Intervoice Announces Second Quarter Results

Revenues of $41.6 M, Net Income of $0.10 Per Share

DALLAS — September 30, 2003 — Intervoice, Inc. (Nasdaq: INTV) today announced revenues of $41.6 million and net income of $3.6 million, or $0.10 per diluted share, for its second quarter, which ended August 31, 2003. Revenues for the quarter included a $2.1 million payment from a cash-basis, international managed services customer. The Company’s results for the quarter included a previously disclosed separation charge of approximately $0.8 million. The Company’s backlog of systems sales orders totaled $30.1 million at August 31, 2003, a slight increase from the prior quarter. During the second quarter, cash balances increased to $37 million and the Company reduced its debt balance to $16.4 million through repayments totaling $1.8 million.

“We are pleased to report another quarter of significant improvement in our operating results,” said David Brandenburg, the Company’s Chairman and CEO. “We had exceptionally strong sales results for the quarter, and the hard work we’ve put in on cost control over the last two years continues to pay off as much of that revenue growth falls to the bottom line. Our focus going forward is unchanged — to maintain profitable operations through diversifying and expanding our pipeline of sales opportunities and through managing costs and our balance sheet. While we continue to be cautious about the state of the economy, we are optimistic that IT spending levels will improve once next year’s capital budgets are approved. We believe the Company’s long-term outlook continues to be strong and currently believe revenues for the third quarter ending November 30, 2003 will be in the $37 — $43 million range. We look forward to discussing the Q2 results and our outlook for the future in tomorrow’s conference call.”

Intervoice Announces Second Quarter Results
September 30, 2003
Page 2 of 8

The Company has scheduled a conference call for 10:30 a.m., central daylight time, Wednesday, October 1, 2003 to discuss its second quarter results and its outlook for the future. To participate in the call, dial 913-981-5542. The conference call confirmation code is 156696. A replay of the call will be available at the Company’s web site: www.intervoice.com.

This press release contains forward-looking statements, which are based on Company management’s current beliefs. Readers are cautioned to read the risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to vary materially from the forward-looking statements in this press release.

About Intervoice
With more than 22,000 systems deployed around the globe, Intervoice is a world leader in converged voice and data solutions. Intervoice provides the applications, tools and infrastructure that enable enterprises and carriers to attract and retain customers and promote profitability. Omvia®, our open, standards-based product suite, is transforming the way people and information connect. Omvia offers speech-enabled IVR applications, multimedia and network-grade portals, wireless application gateways, and enhanced services such as unified messaging, short messaging services (SMS), voicemail, prepaid services and interactive alerts. Intervoice is headquartered in Dallas with offices in Europe, the Middle East, South America, and Asia Pacific. For more information, visit www.intervoice.com.

INTERVOICE, INC.
CONSOLIDATED BALANCE SHEETS

			(In Thousands, Except Share and Per Share Data)
ASSETS			August 31, 2003			February 28, 2003
			(Unaudited)
Current Assets
	Cash and cash equivalents		$	37,014		$	26,211
	Trade accounts receivable, net of allowance for doubtful accounts of $2,619 in fiscal 2004 and $2,527 in fiscal 2003			22,568			25,853
	Inventory			8,568			8,895
	Prepaid expenses and other current assets			4,607			5,277
				72,757			66,236
Property and Equipment
	Building			16,830			16,708
	Computer equipment and software			34,882			32,660
	Furniture, fixtures and other			2,700			2,667
	Service equipment			9,151			8,744
				63,563			60,779
	Less allowance for depreciation			43,867			40,406
				19,696			20,373
Other Assets
	Intangible assets, net of accumulated amortization of $32,924 in fiscal 2004 and $32,218 in fiscal 2003			7,881			9,326
	Goodwill			3,401			3,401
	Other assets			1,174			1,655
			$	104,909		$	100,991
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
	Accounts payable		$	10,995		$	12,513
	Accrued expenses			12,288			12,705
	Customer deposits			8,321			9,061
	Deferred income			25,313			25,478
	Current portion of long term borrowings			3,333			3,333
	Income taxes payable			10,513			6,240
				70,763			69,330
Long term borrowings				13,111			15,778
Other long term liabilities				327			856
Deferred income taxes				62			44
Stockholders’ Equity
	Preferred Stock, $100 par value—2,000,000 shares authorized: none issued
	Common Stock, no par value, at nominal assigned value—62,000,000 shares authorized: 34,310,684 issued and outstanding in fiscal 2004, 34,111,101 issued and outstanding in fiscal 2003			17			17
	Additional capital			66,330			65,144
	Accumulated deficit			(42,236	)		(46,768	)
	Accumulated other comprehensive loss			(3,465	)		(3,410	)
		Stockholders’ equity		20,646			14,983
			$	104,909		$	100,991

INTERVOICE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

		(In Thousands, Except Per Share Data)
		Three Months Ended						Six Months Ended
		August 31,			August 31,			August 31,			August 31,
		2003			2002			2003			2002
Sales
	Systems	$	20,625		$	17,905		$	38,655		$	39,540
	Services		20,982			17,708			41,353			34,489
			41,607			35,613			80,008			74,029
Cost of goods sold
	Systems		11,271			17,099			22,484			33,217
	Services		7,472			7,626			14,202			14,297
			18,743			24,725			36,686			47,514
Gross margin
	Systems		9,354			806			16,171			6,323
	Services		13,510			10,082			27,151			20,192
			22,864			10,888			43,322			26,515
Research and development expenses			3,703			6,518			7,574			12,523
Selling, general and administrative expenses			13,091			18,401			26,562			36,094
Amortization of goodwill and acquisition related intangible assets			705			1,776			1,410			3,552
Income (loss) from operations			5,365			(15,807	)		7,776			(25,654	)
Other income (expense)			139			(716	)		(47	)		(764	)
Interest expense			(536	)		(1,555	)		(1,081	)		(3,020	)
Income (loss) before taxes and the cumulative effect of a change in accounting principle			4,968			(18,078	)		6,648			(29,438	)
Income taxes (benefit)			1,372			(1,806	)		2,116			(4,487	)
Income (loss) before the cumulative effect of a change in accounting principle			3,596			(16,272	)		4,532			(24,951	)
Cumulative effect on prior years of a change in accounting principle			—			—			—			(15,791	)
Net income (loss)		$	3,596		$	(16,272	)	$	4,532		$	(40,742	)
Per Basic Share:
Income (loss) before the cumulative effect of a change in accounting principle		$	0.11		$	(0.48	)	$	0.13		$	(0.73	)
Cumulative effect on prior years of a change in accounting principle			—			—			—			(0.47	)
Net income (loss)		$	0.11		$	(0.48	)	$	0.13		$	(1.20	)
Per Diluted Share:
Income (loss) before the cumulative effect of a change in accounting principle		$	0.10		$	(0.48	)	$	0.13		$	(0.73	)
Cumulative effect on prior years of a change in accounting principle			—			—			—			(0.47	)
Net income (loss)		$	0.10		$	(0.48	)	$	0.13		$	(1.20	)

INTERVOICE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

		(In Thousands)
		Three Months Ended						Six Months Ended
		August 31,			August 31,			August 31,			August 31,
		2003			2002			2003			2002
Operating activities
	Income (loss) before the cumulative effect of a change in accounting principle	$	3,596		$	(16,272	)	$	4,532		$	(24,951	)
	Adjustments to reconcile income (loss) before the cumulative effect of a change in accounting principle to net cash provided by operating activities:
	Depreciation and amortization		2,418			4,290			4,800			8,466
	Other changes in operating activities		5,738			23,776			6,022			26,617
Net cash provided by operating activities			11,752			11,794			15,354			10,132
Investing activities
	Purchases of property and equipment		(1,210	)		(1,847	)		(2,473	)		(2,448	)
	Proceeds from sale of assets		14			—			14			1,852
Net cash used in investing activities			(1,196	)		(1,847	)		(2,459	)		(596	)
Financing activities
	Paydown of debt		(1,833	)		(3,980	)		(2,667	)		(29,980	)
	Debt issuance costs		—			(386	)		—			(2,018	)
	Borrowings		—			—			—			24,000
	Exercise of stock options		907			42			907			130
Net cash used in financing activities			(926	)		(4,324	)		(1,760	)		(7,868	)
Effect of exchange rates on cash			(420	)		515			(332	)		817
Increase in cash and cash equivalents			9,210			6,138			10,803			2,485
Cash and cash equivalents, beginning of period			27,804			13,993			26,211			17,646
Cash and cash equivalents, end of period		$	37,014		$	20,131		$	37,014		$	20,131

INTERVOICE, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(Unaudited)

(In Thousands, Except Share Data)

										Accumulated
	Common Stock									Other
					Additional		Accumulated			Comprehensive
	Shares		Amount		Capital		Deficit			Loss			Total
Balance at February 28, 2003		34,111,101	$	17	$	65,144	$	(46,768	)	$	(3,410	)	$	14,983
Net income		—		—		—		4,532			—			4,532
Foreign currency translation adjustment		—		—		—		—			(55	)		(55	)
Extension of stock options		—		—		279		—			—			279
Exercise of stock options		199,583		—		907		—			—			907
Balance at August 31, 2003		34,310,684	$	17	$	66,330	$	(42,236	)	$	(3,465	)	$	20,646

Intervoice, Inc.
Reconciliation of Net Income to EBITDA
For the Quarter Ended August 31, 2003

The Company recognizes that its shareholders are interested in its performance against certain of the covenants associated with its debt facilities, particularly its earnings before interest, taxes, depreciation and amortization (EBITDA) covenant. A reconciliation of net income to EBITDA follows:

		($000s)
Net income		$	3,596
Add back EBITDA elements
	Interest		536
	Taxes		1,372
	Depreciation and amortization		2,418
EBITDA		$	7,922

Intervoice, Inc.
Revenues by Market and Geography
For the Quarter Ended August 31, 2003
($s in 000s)

		North				Rest of
		America				World				Total
Systems		$	12,256	59.4	%	$	8,369	40.6	%	$	20,625	100.0	%
Customer and Software Support			10,852	76.0	%		3,433	24.0	%		14,285	100.0	%
Managed Services			1,666	24.9	%		5,031	75.1	%		6,697	100.0	%
Total Sales		$	24,774	59.5	%	$	16,833	40.5	%	$	41,607	100.0	%
IVR/Portal										$	14,970	36.0	%
Messaging											1,350	3.2	%
Payment											4,305	10.4	%
	Total Systems										20,625	49.6	%
Customer and Software Support											14,285	34.3	%
Managed Services											6,697	16.1	%
	Total Services										20,982	50.4	%
Total Sales										$	41,607	100.0	%

Intervoice, Inc.
Revenues by Market and Geography
For the Six Months Ended August 31, 2003
($s in 000s)

		North				Rest of
		America				World				Total
Systems		$	24,282	62.8	%	$	14,373	37.2	%	$	38,655	100.0	%
Customer and Software Support			21,212	76.1	%		6,658	23.9	%		27,870	100.0	%
Managed Services			3,524	26.1	%		9,959	73.9	%		13,483	100.0	%
Total Sales		$	49,018	61.3	%	$	30,990	38.7	%	$	80,008	100.0	%
IVR/Portal										$	27,345	34.2	%
Messaging											3,143	3.9	%
Payment											8,167	10.2	%
	Total Systems										38,655	48.3	%
Customer and Software Support											27,870	34.8	%
Managed Services											13,483	16.9	%
	Total Services										41,353	51.7	%
Total Sales										$	80,008	100.0	%

Amounts shown for the six months ended August 31, 2003 for IVR/Portal and Payment system sales reflect the reclassification of $469 and $2,337, respectively, of sales originally classified as Messaging sales for the quarter ended May 31, 2003.