MOUNT LAUREL, N.J., Aug. 6 /EMWNews/ -- MedQuist Inc.

(Nasdaq: MEDQ) announces that, in accordance with today's closing of the

stock purchase agreement between Koninklijke Philips Electronics N.V. and

CBaySystems Holdings, in which Philips has sold its approximate 69.5%

ownership interest in MedQuist to CBaySystems Holdings, the following

members of MedQuist's board of directors have resigned: Clement Revetti

Jr., Edward Siegel, Gregory M. Sebasky and Scott M. Weisenhoff. They have

been replaced by Robert Aquilina, Frank Baker, Peter Berger and Michael

Seedman, who have been designated for election to the board of directors by

CBaySystems Holdings pursuant to its Governance Agreement with MedQuist.

Additionally, Aquilina has replaced Sebasky as chairman of the board of

directors.



    According to MedQuist interim president and CEO Mark Ivie, "We

sincerely thank the outgoing board members for their service, and welcome

the opportunity to work with CBaySystems Holdings' board designees to chart

the future of our Company."



    Robert M. Aquilina, 52, has served as an executive partner, a senior

operating consultant role, to S.A.C. Private Capital Group, LLC (SAC PCG)

since 2007. Previously, he served as an industrial partner at Ripplewood

Holdings LLC (Ripplewood), held the role of co-chairman of Flag Telecom

Group Ltd., and was a board member of Japan Telecom Inc. Prior to these

positions, he was a senior operating executive of AT&T Inc., with a 21-year

career.



    Frank Baker, 35, is a managing director and co-founder of SAC PCG.

Prior to establishing SAC PCG in 2007, he was a managing director at

Ripplewood and RHJ International, where he was responsible for making

various private equity investments and taking RHJ International public on

the Brussels Stock Exchange. He joined Ripplewood's New York office in

1999. Previously, he spent more than three years in investment banking at

J.P. Morgan Securities Inc. and Goldman Sachs & Co.



    Peter Berger, 57, is a managing director and co-founder of SAC PCG.

From 1995-1998 and 2000-2006, he was a founding member of Ripplewood and

served as both a managing director of Ripplewood and a special senior

advisor to the board of directors of RHJ International. Prior to joining

Ripplewood, he was a senior partner and global head of the Corporate

Finance Group at Arthur Andersen & Co.



    Michael Seedman, 51, is the founder of Seedman and Associates, a

private equity firm. He has served as an executive partner, a senior

operating consultant role, to SAC PCG since 2007. He has more than 30 years

of senior executive management, leadership and technological innovation

expertise and experience. He was previously an industrial partner with

Ripplewood, where he served on the D&M Holdings Inc. board of directors.

    About MedQuist:



    MedQuist is the largest Medical Transcription Service Organization

(MTSO) in the world, and a leader in technology-enabled clinical

documentation workflow. MedQuist's enterprise solutions -- including mobile

voice capture devices, speech recognition, Web-based workflow platforms,

and global network of medical editors -- help healthcare facilities improve

patient care, increase physician satisfaction, and lower operational costs.

For more information, please visit http://www.medquist.com.



    "Safe Harbor" Statement under the U.S. Private Securities Litigation

Reform Act of 1995: Statements in this press release regarding MedQuist's

business that are not historical facts are "forward-looking statements"

that involve risks and uncertainties. Actual outcomes and results may

differ materially from what is expressed or forecasted in forward-looking

statements. As a result, forward-looking statements speak only as of the

date they were made, and the Company undertakes no obligation to publicly

update or revise any forward-looking statements, whether as a result of new

information, future events or otherwise.