CMVT Comverse Technology, Inc. (MM)

Comverse, a subsidiary 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 Comverse Asia Pacific has been conferred the 2006 Telecom BSS Vendor of the Year Award by global growth consulting company Frost & Sullivan for its outstanding performance in 2005. The award was one of a series of prestigious titles conferred at the 2006 Frost & Sullivan Asia Pacific ICT Awards, held annually to recognize outstanding performance and best practices by companies in the information and communications technology (ICT) industry across Asia Pacific. Comverse was selected to receive this distinguished award based on the exceptional APAC performance in 2005 of its Converged Billing Group - which provides customer management, billing, order management and mediation solutions. All nominees were evaluated on a set of actual market performance indicators, including revenue growth, market share, growth in market share, leadership in product innovation, major customer acquisitions, and business and market strategy. Sin Siew Teyew, head of telecoms research at Frost & Sullivan, said, "Comverse has done extremely well in positioning itself as a trusted vendor amongst service providers in Asia Pacific. The company is playing a key role in enabling the transformation of service providers towards delivering next-generation services. It is a clear leader with the largest customer base in the region and a strong position in high-growth markets." "Asia Pacific is the world's fastest growing region and plays an important role in Comverse's growth strategy," said Eitan Achlow, President of Comverse APAC. "We would like to thank our prepaid, postpaid and converged billing customers, as well as our local employees and partners for contributing to our success." About Comverse Converged Billing Comverse Converged Billing solutions enable real-time customer management, allowing service providers and e-businesses worldwide to increase market agility and improve operational efficiency. With the ability to handle any service type, any network type and any payment type, Comverse Converged Billing solutions allow businesses to grow revenues and build loyalty by providing their customers with choice, convenience and control. About Comverse Comverse, a subsidiary 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 About Frost & Sullivan Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.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 and of governmental investigations or proceedings arising out of or related to the Company's stock option grants or any restatement of the financial statements of the Company; risks associated with integrating the businesses and employees of the GSS division of CSG Systems, International and Netcentrex S.A.; 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.