PRESS RELEASE

Openet Telecom Scoops ISA Young Company of the Year Award

November 9, 2001 - Openet

Dublin, 9th November 2001: Openet Telecom, the world leader in convergent mediation, has been selected as the Young Company of the Year by the Irish Software Association. Openet Telecom was presented with this award from a shortlist of five other fast-growth companies at the ISA Annual Dinner and Awards Ceremony at the Burlington Hotel, Dublin.

"In just two years, Openet Telecom has established itself in the top three in the fast-growing area of telecommunications mediation at a time of immense turbulence in the international telecommunications industry," stated Barry Murphy, CEO Openet.
 
"By building revenues to over ¤10 million in its first two year's of operation, Openet has beaten many established competitors to some of the most attractive contracts in the mediation market in that period. Openet Telecom makes a worthy winner of this ISA Industry Award as we have proven that we can survive in a cutthroat industry. Our gilt-edged client list supports our claim to supply the Best Mediation in the World!"
 
Barry Murphy welcomed the award, saying, "this accolade from our peers means a tremendous amount to the staff and shareholders of Openet Telecom. We have all worked hard to take the company this far, and we expect an exciting and successful year ahead. I would like to thank the Association for this recognition, and acknowledge the quality of the other short listed companies in this category. I am sure it was not an easy decision for the adjudicating panel. Ireland's reputation as a global software leader is built on the ability of these and similar companies to develop best-of-breed technical solutions, achieve global recognition and experience sustained and rapid growth. In the turbulent markets being experienced today, it is important that we continue to foster the spirit of Irish entrepreneurship that has yielded so much for our economy and our people.

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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