Alltel Wireless Extends Relationship with Comverse with a Long-Term Contract for Managed Real-Time Billing Services for Prepaid Subscribers

Comverse, the world's leading supplier of software and systems enabling network-based multimedia enhanced communication and billing services, today announced that Alltel Wireless, owner and operator of the largest wireless network in the U.S., has extended its relationship with Comverse with a five-year managed services contract to operate and support its real-time billing environment for prepaid subscribers. The deal is an extension of an existing agreement to manage the complete system operations and maintenance of Alltel’s Real Time Billing solution. "We selected Comverse Real-Time Billing Solution due to its powerful marketing features which enable us to respond to our customers with the right offer at the right moment. With Comverse taking care of the operations, we are able to focus on bringing high-quality mobile communications services to our subscribers,” commented Jeff Fox, Chief Operating Officer of Alltel Wireless. "We are proud of this major inroad to one of the top players in the US wireless market with such an expansive reach,” said Ramesh Barasia, President of Comverse Americas. "The new agreement with Alltel demonstrates our commitment to build long-term, strategic relationships with our top clients. Comverse is creating an adaptive infrastructure that offers greater business agility and a reliable, flexible, cost-effective solution that will help Alltel to be even more competitive.” Since its deployment last year, Comverse Real-Time Billing has been providing Alltel with the optimal means to penetrate new markets, while increasing long-term subscriber loyalty. Alltel can foster a one-to-one relationship with their prepaid subscribers and stimulate the uptake of value-added services by leveraging real-time marketing and account management capabilities. About Alltel Alltel is owner and operator of the nation's largest wireless network and has more than 12 million customers. For more information, please visit www.alltel.com. About Comverse Comverse is the world’s leading provider of software and systems enabling network-based messaging and content value-added services, converged billing and IP communications. Comverse solutions generate revenues, strengthen customer loyalty and improve operational efficiency for over 500 communication service providers in more than 130 countries. The company's Total CommunicationSM portfolio facilitates personalized lifestyles in an evolving connected world and is based on the InSight™ Open Services Environment. Comverse’s solutions support flexible deployment models, including in-network, hosted and managed services, and can run on circuit-switched, VoIP, IMS and converged network environments. Comverse is a subsidiary of Comverse Technology, Inc. (CMVT.PK). For more information, visit www.comverse.com. All product and company names mentioned herein may be registered trademarks or trademarks of Comverse or the respective referenced company(s). 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 any forward-looking statements will be achieved, and actual results could differ materially from forecasts and estimates. Important factors that could affect the company include: the results of the investigation of the Special Committee, appointed by the Board of Directors on March 14, 2006, of matters relating to the company’s stock option grant practices and other accounting matters, including errors in revenue recognition, errors in the recording of deferred tax accounts, expense misclassification, the possible misuse of accounting reserves and the understatement of backlog; 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 investigation or as result of the company’s VSOE evaluation; the company’s inability to file reports with the Securities and Exchange Commission; the effects of the delisting of the company’s Common Stock from Nasdaq and the quotation of the company’s Common Stock in the "Pink Sheets,” including any adverse effects relating to the trading of the stock due to, among other things, the absence of market makers; risks relating to the company’s ability to relist its Common Stock on NASDAQ; risks relating to alleged defaults under the company’s ZYPS indentures, including acceleration of repayment; risks of litigation (including the pending securities class action and derivative lawsuits) and of governmental investigations or proceedings arising out of or related to the company’s stock option practices or any other accounting irregularities or any restatement of the financial statements of the company, including the direct and indirect costs of such investigations and restatement; risks related to Verint Systems Inc’s. merger with Witness Systems, Inc., including risks associated with integrating the businesses and employees of Witness; risks associated with integrating the businesses and employees of the Global Software Services division acquired from 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; the risk of declines in information technology spending; 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. The company undertakes no commitment to update or revise forward-looking statements except as required by law.