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 and billing services, today announced that AutoTrader.com, the Internet's leading auto classifieds marketplace and consumer information website, has selected Comverse's Kenan(R) FX billing and customer care solution. The solution selected by AutoTrader.com includes rating and billing functionality, web-based customer self-care and electronic bill presentment and payment. The Kenan FX framework allows AutoTrader.com to better serve the 40,000 dealers and 250,000 private owners who advertise vehicles to the site's audience of more than 11 million qualified shoppers each month. AutoTrader.com selected Comverse's Kenan(R) FX billing and customer care solution as a configurable billing system to support and respond to rapid customer growth and demands for increasingly sophisticated functionality. "Comverse's Kenan billing solution will help us to deliver extraordinary advertising value to our customers," said Dan Crowe, Chief Information Officer, AutoTrader.com. "We view billing as a key part of our marketing, sales and service efforts, and the Kenan system is flexible enough for us to align our billing approach with these other core elements of the AutoTrader.com value proposition." "AutoTrader.com is a leading and trusted online marketplace dedicated to responding to customer demands and continually improving online services," said Ramesh Barasia, President of Comverse Americas. "Our partnership with AutoTrader.com demonstrates once again that Comverse's Kenan billing solutions are robust and flexible enough to support the billing of complex transactions for a wide variety of business environments." About AutoTrader.com AutoTrader.com, created in 1997 and headquartered in Atlanta, Ga., is the Internet's leading auto classifieds marketplace and consumer information website. AutoTrader.com aggregates in a single location more than 2.8 million vehicle listings from 40,000 dealers and 250,000 private owners, which provide the largest selection of vehicles attracting more than 11 million qualified buyers each month. Through innovative merchandising products such as multiple photos and comprehensive search functionality, AutoTrader.com unites buyer and seller online - dramatically improving the way people research, locate and advertise vehicles. AutoTrader.com is a majority-owned subsidiary of Cox Enterprises. Other investors include ADP, Inc. and the venture capital firm Kleiner Perkins Caufield & Byers. 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 and billing services. The company's Total Communication(SM) portfolio includes value-added messaging, personalized data and content-based services, and real-time converged billing solutions. Over 450 communication and content service providers in more than 120 countries use Comverse products to generate revenues, strengthen customer loyalty and improve operational efficiency. For additional information, visit the Comverse website at www.comverse.com or the Comverse Technology website 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: the results of the special committee, appointed by the Board of Directors on March 14, 2006, to review matters relating to the Company's stock option grants, including, but not limited to, the accuracy of the stated dates of option grants and whether all proper corporate procedures were followed; any restatement of financial statements of the Company or other actions that may be taken or required as a result of such reviews; 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 and Current Reports on Form 8-K. 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.