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 Vodafone Portugal, a member of the Vodafone Group, is upgrading to the Comverse Kenan(R) FX framework to support billing for converged voice and data mobile services for its customers. Including fixed services to the corporate sector. Kenan FX combines the world-class Kenan BP billing engine with ordering and customer management applications, enabling efficient customer lifecycle management. New advanced technology streamlines back-office billing services, such as advanced rating and collection applications, decreasing the development and integration costs of new services. Having successfully used the Kenan(R) BP billing solution to support its customer base since 1999, Vodafone Portugal selected Comverse's Kenan FX business framework to enable the speedy launch of new converged product offerings to its consumer and enterprise markets. "We are confident that the Kenan FX framework will support our needs as we continue to enhance our converged communication offerings," said Joao Pedro Silva, Information & System Technologies Director at Vodafone Portugal. "The ability to quickly launch new converged services to our expanding customer base is crucial to our business success. This combined with the benefits we will receive from streamlining our back-office systems will enable us to maintain a competitive advantage now and in the future." "We greatly value our successful, long-term working relationship with Vodafone Portugal," said Gadi Bahat, President of Comverse EMEA. "Comverse's Kenan FX business framework together with the Comverse InSight(TM) Open Services Environment already deployed by Vodafone Portugal, provides a powerful combination that enables Vodafone Portugal to optimize its services, billing and customer management capabilities for the converged communication environment." About Comverse Converged Billing Comverse Converged Billing enables real-time customer management, allowing service providers and e-businesses worldwide to increase market agility and improve operational efficiency. Comverse Converged Billing is based on our market-leading Real-Time Billing Solution and the Kenan(R) FX customer care and billing framework. With the ability to handle multiple service, network and payment types, Comverse Converged Billing allows businesses to grow revenues and build loyalty by providing their customers with choice, convenience and control. About Vodafone Portugal Vodafone is the second largest operator in the Portuguese Telecommunications market. Focused on providing voice and data mobile services, Vodafone Portugal also provides fixed services, as a complement of its mobile offer and especially dedicated to the corporate segment. It operates a nation-wide GSM/GPRS cellular network and pioneered the launch of 3G/UMTS and 3.5G/HSDPA services in Portugal, clearly leading the development of this important technology in the country. Vodafone is recognized as the most innovative and customer-oriented operator in the Portuguese mobile market and one of the best international cellular operators. Visit Vodafone Portugal's website at www.vodafone.pt. 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 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 125 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 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.