CMVT Comverse Technology, Inc. (MM)

Comverse, a unit of Comverse Technology, Inc. (NASDAQ: CMVT), and the world's leading supplier of software and systems enabling network-based multimedia enhanced communication services, today announced that Colombia Telecomunicaciones S.A. ESP (Telecom), the largest wireline telecommunication service provider in the country, serving over 2.5 million subscribers, has selected Comverse's Kenan(R) FX billing and mediation solution. The solution will replace its legacy systems, allowing Colombia Telecomunicaciones to optimize its billing function by consolidating disparate systems and increasing the flexibility required to support a major business transformation effort that includes upgrading to IP-based networks. Telecom offers services including local, long distance and Internet/Data to its subscribers. The selection of Comverse's Kenan FX integrated solution will enable Telecom to achieve a unified customer view, supporting the development of targeted customized promotions catering to each subscriber's unique service needs. The new system is designed to accelerate time to market of new service offerings with enhanced flexible billing capabilities. The scalable and convergent Kenan FX solution is ready to support technology advancements, such as VoIP, broadband and next-generation mobile services, supporting the acquisition of new subscribers and the retention of valuable existing customers. "The deployment of Kenan FX, as our integrated billing and mediation platform, enables the transformation of our billing function and differentiates our services from competitors. We selected Comverse based upon their proven billing technology and technical expertise handling large implementation projects around the world," said Juan Jose Uribe, Vice President of Special Projects and Technology, Telecom. "This project will allow Colombia Telecomunicaciones to accelerate customer satisfaction and retention through improved billing processes." "The adoption of our billing and mediation solution by Telecom further validates Comverse as a leading provider of billing and mediation solutions in the Caribbean and Latin American regions," said Ramesh Barasia, President of Comverse Americas. "Comverse is excited and committed to partnering with Colombia Telecomunicaciones to enable improved subscriber services, which will have significant implications for the advancement of telecommunications in the country." About Kenan(R) FX Framework for Integrated Business Solutions The Kenan(R) FX business framework delivers flexible, proven and powerful customer care, ordering and billing applications to operators, service providers and e-businesses worldwide. Optimized for the converging communications, entertainment, content, and online markets, Kenan FX provides an advanced set of customer lifecycle management software solutions - from ordering and activation to charging and payments. Kenan FX offers a range of supplementary services including EBPP (Electronic Bill Presentment and Payment), active mediation and workforce management. About Telecom Colombia Telecomunicaciones S.A. ESP, Telecom is the largest telecommunications company in Colombia, with more than 2.5 million fixed lines throughout the country and the highest traffic on national and international long distance service. Telecom is also the main Internet service provider in Colombia with xDSL in 38 cities. About Comverse Comverse, a unit of Comverse Technology, Inc. (NASDAQ: CMVT), is the world's leading provider of software and systems enabling network-based multimedia enhanced communication services. These value-added enhanced services solutions, along with the company's real-time billing solutions, comprise the company's Total Communication portfolio. Comverse's Total Communication(TM) portfolio addresses four primary categories: call completion and call management solutions; advanced messaging for groups, communities and person-to-person communication; solutions and enablers for the management and delivery of data and content-based services; and real-time billing and account management solutions for dynamic service environments. Other Comverse Technology business units include: Verint Systems, a leading provider of analytic software-based solutions for communications interception, networked video security and business intelligence; and Ulticom, a leading provider of service enabling signaling software for wireline, wireless and Internet communications. Comverse Technology is an S&P 500 and NASDAQ-100 Index company. For additional information, visit the Comverse Web site at www.comverse.com or Comverse Technology's Web site at www.cmvt.com. All product and company names mentioned herein may be registered trademarks or trademarks of Comverse or the respective referenced company(s). Note: This release may contain "forward-looking statements" under the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved, and actual results could differ materially from forecasts and estimates. Important factors that could cause actual results to differ materially include, among others: risks associated with integrating the business and employees of the GSS division of CSG Systems, International; changes in the demand for the Company's products; changes in capital spending among the Company's current and prospective customers; the risks associated with the sale of large, complex, high capacity systems and with new product introductions as well as the uncertainty of customer acceptance of these new or enhanced products from either the Company or its competition; risks associated with rapidly changing technology and the ability of the Company to introduce new products on a timely and cost-effective basis; aggressive competition may force the Company to reduce prices; a failure to compensate any decrease in the sale of the Company's traditional products with a corresponding increase in sales of new products; risks associated with changes in the competitive or regulatory environment in which the Company operates; risks associated with prosecuting or defending allegations or claims of infringement of intellectual property rights; risks associated with significant foreign operations and international sales and investment activities, including fluctuations in foreign currency exchange rates, interest rates, and valuations of public and private equity; the volatility of macroeconomic and industry conditions and the international marketplace; risks associated with the Company's ability to retain existing personnel and recruit and retain qualified personnel; and other risks described in filings with the Securities and Exchange Commission. These risks and uncertainties, as well as others, are discussed in greater detail in the filings of the Company with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. These documents are available through the Company, or its website, www.cmvt.com, or through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov. The Company makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made.