PRESS RELEASE

OPENET TELECOM RECOGNIZED AS “BEST NEW COMPANY” BY BILLING WORLD MAGAZINE

June 26, 2001 - Openet

ORLANDO, Fla., (Billing World 2001, Booth 1228), June 26, 2001; Openet Telecom, the world leader in convergent mediation, has been named the "Best New Company" by Billing World magazine. The award was presented last night at the inaugural 2001 Excellence Awards ceremony at Telestrategies' Billing World 2001 Conference and Exhibition in Orlando, Fla.

"To be formally recognized as a leader in the billing industry is both humbling and satisfying," said Barry Murphy, CEO, Openet Telecom. "It also validates our vision to provide telecommunications companies with the world's best convergent mediation solution, enabling management and billing of sophisticated services according to type of usage rather than solely on time and distance. This process is increasingly relevant as voice and data services converge."
 
Openet recently entered the U.S. market, signing a substantial, long-term agreement with a major Tier-1 wireless carrier. This operator will deploy Openet's FusionWorks(tm) platform as the foundation for its business support system that serves more than 12 million subscribers and includes billing, customer care, data warehousing, fraud management and other related applications.
 
The judging panel consisted of editors of Billing World magazine, along with representatives of leading international organizations, including DMR Consulting and The Yankee Group. This is the 11th year of the Billing World event, which attracts thousands of communications billing professionals from around the world and offers the largest exhibit showcase devoted to billing applications.

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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