PRESS RELEASE

Openet Telecom Named in Wall Street Journal Survey as a European Company in which VCs would most like to Invest

July 11, 2001 - Openet

11th July 2001; Openet Telecom, the world leader in convergent mediation, was today named in a Wall Street Journal survey, as one of the companies in which European venture capitalists would most like to invest. Openet Telecom (www.openet.com) is the only Irish company listed in the quarterly Venture Capital Envy Poll conducted by The Wall Street Journal.

The Envy Portfolio is compiled by asking a panel of venture capitalists to name two European-based, venture-backed companies they admire but in which they have been unable to invest. The objective is to build a picture of which early stage companies are currently generating the most excitement in the VC community.
 
Openet Telecom is listed among 21 European technology companies which, according to The Wall Street Journal, "boast cutting-edge technologies and impressive management teams to have allowed them to continue to raise substantial funds from private investors".
 
Openet Telecom bucked the trend in the technology sector by recently announcing plans to create 200 new jobs by the end of 2002 as part of a global expansion plan. Established in July 1999, Openet Telecom is a world leader in providing scalable mediation solutions that enable communication providers with diverse networks to easily implement, manage and bill sophisticated services. The company is backed by the Cross Atlantic Technology Fund.

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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