Openet Reports Continued Double Digit Revenue Growth

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Openet, the world leader in convergent mediation, real-time charging and network-edge rating, today announced that the company's revenue increased more than 40% in 2006 over the previous year. This represents a third year of consecutive double digit growth in revenues for Openet.

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The economies of scale, the superior business benefits -- both operationally and financially -- are all attractive to our target customers.

Openet, the world leader in convergent mediation, real-time charging and network-edge rating, today announced that the company's revenue increased more than 40% in 2006 over the previous year. This represents a third year of consecutive double digit growth in revenues for Openet.

Openet achieved this growth by addressing the needs of communications service providers for IMS-ready network-edge software solutions that help them realize the potential value of the usage information generated by their networks. Openet's products and solutions enable charging for content-based services, detecting revenue leakage, complying with regulations governing lawful network surveillance, and providing marketers a comprehensive view of how subscribers are using services.

"We are relentlessly focussed on executing this mission -- to be the leading provider of convergent event processing and transaction management solutions to service providers worldwide," said Niall Norton, President and CEO of Openet. "I am very pleased with our continued strong performance as the business continues to demonstrate significant revenue growth in a challenging market."

Operators select Openet for two primary reasons. The first is the company's ability to address business problems while providing solutions that will maintain performance and availability while the volume of events and transactions on their networks continue to increase with the use of data and content services. The second is Openet's thought leadership in developing convergent and IMS-ready software.

"A growing number of operators understand the importance of scalability, availability, speed and convergence in network event and transaction processing solutions and they are choosing Openet to address their needs," Norton said. "The economies of scale, the superior business benefits -- both operationally and financially -- are all attractive to our target customers."

In 2007, Openet will invest heavily in continued growth. Openet will introduce several new products and solutions that further address operators need to reduce operating costs, ensure regulatory compliance, and increase revenue and ARPU by helping them realize the potential value of the usage information generated by their networks. In addition to its aggressive product development program of convergent network-edge software, Openet is also investing in sales and marketing to further increase market awareness and educate Operators about the advantages of working with Openet.

Adding to its existing software business, Openet launched its Managed Services Division in November 2006 to fulfill growing customer demands for the direct management and outsourcing of customers operations. The division will provide operators with outsourced day-to-day IT and network operations staffing, consulting and expertise.

ABOUT OPENET

Openet is a leading worldwide provider of event processing and transaction management solutions that enable service providers to maximize profitability, minimize deployment and management costs and ensure regulatory and partner requirements compliance. Our products -- FusionWorks Mediation, FusionWorks Charging, and FusionWorks Real-Time Rating -- and the solutions they enable, set the industry standard for availability, performance and scale in processing and management of network activity events and transactions in multi-service convergent environments.

With headquarters in Dublin, Ireland and offices in the United States, Singapore and Brazil and Malaysia, Openet has signed customers that include British Telecom, Cingular Wireless, StarHub, Orange Group, T-Mobile, TIM, Telstra, Verizon Wireless and Vodafone.

Additional information is available at http://www.openet.com.

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Andrea Kavanagh
Openet
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