1. An audio conferencing system comprising: at least one loudspeaker for converting a first electrical signal into sound; a plurality of conference stations in spaced relation, each conference station comprising a directional microphone for converting sound into a directional microphone signal, the directional microphone signals collectively forming a plurality of directional microphone signals; and a signal processor for modifying at least one of the plurality of directional microphone signals and a receive signal, the signal processor producing at least one of a transmit signal and the first electrical signal.