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 the availability of the Comverse Converged Billing Solution, which enables real-time customer management, allowing service providers and e-businesses worldwide to increase market agility and improve operational efficiency. Created by the integration of Comverse's award-winning Real-Time Billing and Kenan(R) FX solutions, plus additional investment to provide a unified customer view across all subscriber types, this pre-integrated solution has the ability to handle multiple service, network and payment types, enabling businesses to grow revenues and build loyalty by providing their customers with choice, convenience and control. In addition, the ability of a single Comverse Converged Billing Solution deployment to handle converged prepaid/postpaid as well as all lines of business is the basis for increasing operational efficiency and lowering operator costs. This new customer care, ordering and billing solution is part of an overall portfolio - Comverse Converged Billing Suite - that includes optional solutions for point-of-sale (POS), self-care, electronic bill presentment and payment (EBPP), voucher management, mediation, and content partner management. "It is impressive that Comverse has brought this offering to market so quickly after the Kenan acquisition," commented Andy Bairsto, Senior Analyst at Yankee Group. "We believe that there is a great market potential for converged billing, as operators look to transform their businesses with integrated back office systems that will enable them to control financial risk, differentiate their services and increase customer loyalty. This announcement combined with the recent Netonomy acquisition announcement demonstrates Comverse's focus on enabling operators to deliver an excellent end-customer experience." "The Comverse Converged Billing Solution will allow us to manage our entire customer base consistently and efficiently since the system provides real-time customer management for voice and data services. In addition, we expect to drive usage with dynamic one-to-one marketing based on real-time information," commented Chris Bannister, CEO of P4, the new 3G operator in Poland. "With this new solution, we expect all types of operators will be able to achieve faster time-to-market, and greater flexibility in service segmentation, personalization and targeted marketing campaigns," said Howard Woolf, Group President Converged Billing Solutions at Comverse. "This latest product launch is part of Comverse's continued commitment to our customers' goal to maintain a competitive edge through innovation and market leadership." 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. 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, Netcentrex S.A and Netonomy, Inc..; 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.