Text to Speech Freeware

Panopreter Basic is a text to speech and text to mp3 freeware program with the following features:

Read text aloud with natural sounding voices, convert the text to wav and mp3 audio files.
Highlight the word or sentence being read.
Support a wide variety of languages and voices.
Support batch file conversion.
Allow users to adjust voice speed and volume.
Play music when it finishes reading the text.

However, if what you are looking for is speech to text converter, here is one of the best online audio to text transcription service.

Read the review by TechNadu, and upgrade to the standard edition.

MajorGeeks, All Digital School and TheFreeSite.com recommend this free text to speech software.