CMVT Comverse Technology, Inc. (MM)

In graph five, Zeev Bregman is CEO, not President of Comverse. The corrected release follows P4 SELECTS COMVERSE CONVERGED BILLING AND TOTAL COMMUNICATION(SM) SERVICES 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 it has been selected to supply a broad array of solutions and services from its Total Communication(SM) portfolio to P4, Poland's new 3G mobile operator. These solutions include Comverse's Converged Billing solution, InSight(TM) next generation platform and services, Multimedia Messaging Service Center (MMSC), Short Message Service Center (SMSC), Mobile Data Gateway (MDG), notification services and other services designed to offer a superior user experience and generate additional revenues. The Comverse Converged Billing solution selected by P4 is a convergent system that allows the operator to manage its entire customer base consistently and efficiently. Comverse Converged Billing provides real-time customer management for both prepaid and postpaid users, for voice and data services. In this way, operators can provide an excellent end-customer experience and drive usage with dynamic one-to-one marketing based on real-time information. Additionally, the broad array of Comverse value-added services are pre-integrated and tested with Comverse Converged Billing to insure rapid time to market and maximum flexibility in deploying targeted marketing campaigns for the operator. Chris Bannister, CEO of P4, said, "Working with Comverse gives us the competitive advantage of having the best possible services and solution components. Our extensive knowledge of the industry, including personal in-depth experience with Comverse's products and services over several years, has led us to the conviction that having Comverse working with us is essential for building the kind of services we want to offer to our subscribers. Comverse's broad range of value-added services and tradition of strong local support will help us earn customer satisfaction, loyalty, and market success." Zeev Bregman, CEO, Comverse said, "We are pleased that we are seeing early rewards from our integration of Real-Time Billing and Kenan(R) solutions. In addition, the integration of our Converged Billing solution with Comverse's value-added services demonstrates how an operator can attract new subscribers with a flexible and robust services offering - from the network to the bill. Comverse's Total Communication portfolio of leading communication, content and billing solutions, together with our customer-first service orientation makes us a trusted source for operators." About P4 P4, the new 3G mobile operator in Poland, plans to commence operations in the last quarter of 2006 and will focus on individual clients, along with co-operation with its parent company, the alternative operator Netia. P4 received its UMTS license in 2005. About Comverse Billing Solutions Comverse Billing Solutions deliver flexible and field-proven customer care, ordering and billing applications that enable service providers and e-businesses worldwide to increase market agility and improve operational efficiency. Comverse's converged, real-time and postpaid billing solutions support multiple service, network and payment types, allowing businesses to build revenues and loyalty by providing customers with choice, convenience and control. 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 contains "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 review of the Special Committee, appointed by the Board of Directors on March 14, 2006, of 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; the impact of any restatement of financial statements of the Company or other actions that may be taken or required as a result of such reviews; the Company's inability to file reports with the Securities and Exchange Commission; risks associated with the Company's inability to meet NASDAQ requirements for continued listing, including possible delisting; risks of litigation related to the Company's stock option grants or any restatement of the financial statements of the Company; 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.