Movilnet Expands Comverse InSight(TM) Open Services Environment to Accommodate Rapid Growth in Venezuela

Comverse, the world's leading supplier of software and systems enabling network-based multimedia enhanced communication and billing services, today announced that Telecomunicaciones Movilnet CA, a leading mobile operator in Venezuela with more than eight million subscribers, is expanding its InSight Open Services Environment to handle the rapidly increasing demand for voice and value-added services. The expansion complements existing InSight capabilities and completes the phasing out of a legacy competitor installation with InSight’s advanced next-generation platform for voice and data value-added services. The high-performance, cost-efficient, integrated system will supply and support existing and planned services with an enhanced user experience with consistent access to all types of messages, personal files and applications, and is designed to encourage service discovery and usage. "Our subscriber base is growing quickly, partly due to the reputation we have earned for consumer orientation,” said Ernesto Ramos Henningsen, Operations and Systems Vice President at Movilnet. "Our most pressing need for the expansion at this moment is to accommodate the booming demand for voicemail. Looking ahead, this InSight expansion enables us to meet current and projected needs and lays a solid foundation for the extensive variety of advanced services that are part of our future plans. We are expanding our InSight base for its feature richness, user experience, visionary road map and excellent price/benefit ratio.” InSight is an IP-based Open Services Environment for the launch and delivery of multimedia messaging and content value-added services. InSight’s core components and shared critical enablers create substantial operational efficiencies and accelerate deployment of new services with a consistent multimodal interface. InSight’s rich portfolio of advanced call completion and messaging services optimizes the user experience and leverages the capabilities of handsets and networks. "An unmistakable benchmark of InSight success is the rapid takeup of the Open Services Environment by well more than 100 operators,” said Ramesh Barasia, President of Comverse Americas. "Further strong confirmation of the popularity of InSight-powered services is that many operators, like Movilnet, are expanding their systems as usage ramps up, and are making plans for future introduction of advanced services. InSight is a common denominator for success of leading circuit-switched, packet-switched, IP, hybrid, and IMS operators in South America and all around the world.” About Movilnet Telecomunicaciones Movilnet is the leading Digital Wireless Communications provider in Venezuela. It is part of CANTV holding, which is the largest communications company in the country in Fixed Lines, Digital Wireless, Broadband and Dial-Up Internet Access and other services provided nationwide. The mission of Movilnet is to become the preferred wireless provider as a result of its excellent customer service, innovation and network reliance. Its capable, trained and motivated staff is the key to maintaining performance and achieving this mission. Its EVDO network currently offers the broadest 3G coverage in Venezuela. About Comverse Comverse is the world’s leading provider of software and systems enabling network-based messaging and content value-added services, prepaid, postpaid and 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.