PRESS RELEASE

Openet Accelerates Growth with Board and Management Team Expansion

February 16, 2004 - Openet

Openet Telecom builds commercial strength with board and management appointments: Simon Cassif, formerly President Amdocs Europe; Teresa Vega, Corporate Vice President, Telcordia Technologies and Niall Norton, formerly CFO O2 Ireland

Monday, 16th February 2004; Openet Telecom, a world leader in real-time charging and convergent mediation, today announced the appointment of Simon Cassif and Teresa Vega to its Board. Niall Norton joins Openet's management team as Chief Financial Officer.
 
Simon Cassif acted until recently as President of Amdocs Europe where his main priority was the development of business partnerships with Amdocs' strategic customers in Europe. In his six years in this role, Simon was instrumental in driving revenue growth and strengthening Amdocs' Tier One customer base. Simon has substantial knowledge and expertise in growing Tier One business and delivering large-scale solutions to the telecommunications market. Prior to joining Amdocs, he was Vice President and Chief Information Officer at Bezeq, the Israel Telecommunications Corporation.
 
Terry Vega brings more than 20 years of business development and marketing experience with Telcordia, Lucent and Bell Laboratories. Among her roles at Lucent, Terry served as Chief Marketing Officer and also as COO of the Wireless Business Unit where she was instrumental in driving multi-billion dollar growth. Terry is current Group President of Telcordia's Mobility, Cable and Emerging Markets unit.
 
“I am delighted to announce the appointment of Simon and Terry to our Board of Directors. Each brings profound knowledge of building large-scale business in the telecommunications industry. Simon has been at the nexus of European billing for the last 10 years. He will give superb momentum to our overall capabilities, particularly honing our focus on the Tier One business that has become the mainstay of our revenue growth,” stated John Rainger, CEO Openet Telecom. “Terry's leadership and extensive capability in developing new market strategies in telecommunications will enhance Openet's strategic approach to product development and revenue generation.”
 
Niall Norton joins Openet as CFO from his position as CFO with O2 (Ireland) where he was responsible for O2's financial control functions, business process re-design, strategy planning and wholesale. Niall was lead manager for the BT Wireless de-merger and the O2 IPO process and brings extensive corporate finance and commercial acumen to the company.
 
Commenting on this further strengthening of the commercial and technical capability of its Board and management team, CEO John Rainger stated, “Openet is experiencing rapid growth and market acceptance. The additional leadership brought by Simon, Terry and Niall will continue to steer Openet toward its goal for strengthened market dominance and shareholder value.
 
 
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.
 

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