Openet Telecom makes significant impact on Mediation Market

Dublin, 23rd July 2002, Openet Telecom Announcements For First-Half Of 2002 Consolidate Market-Leading Position.

Openet Telecom, a world leader in convergent mediation, is preparing to announce five new deals, four with tier one operators. Openet has demonstrated notable success over recent months, securing industry recognition and some of the world's largest telecoms operators as customers while launching important new products onto the mediation market place.

Although customer names cannot yet be disclosed, Openet has recently signed deals to provide voice and IP mediation to a pan-European cable operator, pre-paid VoIP mediation to a Greek telecoms group; IP mediation to two other European tier one operators and a uniquely innovative mediation application for one of the largest mobile operators in Europe - this will be launched as a product later in the year.

In addition, Openet has announced the availability of FusionWorks™ Wireless and FusionWorks™ Pre-paid, both market-led solutions for mediating customer usage data in increasingly sophisticated network environments. Both products answer communications service providers' needs for usability and rapid ROI.

"The success of Openet is primarily due to its market-leading approach to mediation," commented John Rainger, CEO of Openet Telecom. "We see mediation as an active component in a telecoms network which not only generates immediate impact on the bottom line through feeding accurate and timely information to billing but also underpins a network's entire software infrastructure, allowing operators to manage their traffic and customer usage information more efficiently."

"The last six months have shown us that the market has recognised Openet as the premier supplier of convergent mediation. We would like to thank our stakeholders for the continued commitment which has allowed us to reach this stage, expect to hear a lot more from Openet!" finished Rainger.

Openet Milestones From The Last Six Months

July 2002 - Tornado Insider names Openet Telecom as one of Europe's Top 100 leading, emerging, private, high-technology companies.

June 2002 - Openet Telecom's FusionWorks™ Mediation is certified to NDM version 3.0 of the IPDR standard - one of the few IPDR-member companies to be currently certified to this standard.

May 2002 - Deal signed for voice and IP mediation with Greek operator.

April 2002 - Deal signed for IP mediation with tier one South-east European operator.

March 2002 - Openet secures leading Lucent Software Products Group executive, John Rainger as Chief Executive Officer.

February 2002 - Deal signed with tier one Italian operator to develop innovative mediation application.

February 2002 - Openet announces that it is consolidating Minnesota-based Rural Cellular Corporation's mediation solutions and deploying FusionWorks™ Wireless to allow it to offer advanced 2.5G and 3G related services in the future.

February 2002 - Openet announces that TMN, the wireless operator subsidiary of Portugal Telecom, will be the first operator to install FusionWorks™ Pre-paid and FusionWorks™ Mediation together, allowing it to accelerate the deployment of next-generation pre-paid and post-paid services.

February 2002 - Openet announces the launch of FusionWorks™ Wireless, combining the award winning FusionWorks™ Mediation platform with the FusionWorks™ Pre-paid solution. Implementation allows operators to form a solid foundation for the implementation, management, and billing of advanced value added services across traditional and next generation wireless networks for both pre-paid and post-paid subscribers.

January 2002 - Deal signed for pre-paid VoIP and pre-paid ISP services mediation with tier one Greek operator.

January 2002 - Openet develops its first reseller partnership in China with Prient Corporation, one of China's leading systems integrators.

January 2002 - Deal signed for voice and IP mediation with tier one Greek operator.

January 2002 - Openet signs a global alliance with Fujitsu Consulting, as its preferred mediation partner.

About Openet

Openet is a leading worldwide provider of event processing and transaction management solutions. The Transactional Intelligence of the company's solutions extracts increased value from diverse service provider networks, enabling rapid introduction of new services and reliable, cost-effective management of existing services. Openet is focused on delivering best-in-class network edge solutions and specialized engagement processes that create business value from network activity. A global company, Openet's implementations include long-running engagements with the world's leading service providers such as British Telecom, Orange, AT&T and Verizon Wireless. For more information, visit www.openet.com.

For further information:
Openet
Andrea Kavanagh
Phone: +353 1 620 4600
Email: Andrea.Kavanagh@openet.com

or

SHIFT Communications
Megan Lane
Phone: 617-681-1254
Email: mlane@shiftcomm.com