[May 17, 2007] Smart.Net Selects the Comverse Kenan(R) FX Billing Engine to Support Brazil's Benefit Card Processing Tweet WAKEFIELD, Mass. --(Business Wire)-- Comverse, a subsidiary of Comverse Technology, Inc. and the world's leading supplier of software and systems enabling network-based multimedia enhanced communication and billing services, today announced that Smart.Net, a leader in the benefit card processing industry, has selected the Comverse Kenan(R) FX customer care, ordering and billing solution to extend the capabilities and maximize the revenue opportunity from its smartcards, which are used by the country's benefits industry. "The Brazilian government mandates that employees receive assistance for transportation, food and meals. These benefits were previously allocated via paper vouchers. We replaced the voucher system with smartcards, which have numerous advantages," explained Cid Antao, CEO at Smart.Net. "Our transformation of this major business demanded an advanced billing solution that enables a smartcard to function in an innovative and sophisticated manner. The Comverse Kenan FX solution supports our specific and evolving requirements to value and charge our customers and partners for the multiple uses of the smartcard." Optimized for the converging communications market, the modular Kenan FX framework provides an advanced set of customer lifecycle management software solutions -- from ordering and activation to charging and payments -- supporting a host of communication services: fixed, mobile and interactive. Kenan FX is widely deployed around the globe delivering attractive ROI to its clients. "Smartcards will revolutionize the small payments industry in Brazil and open up exciting business opportunities," said Mr. Antao. "Backed by the flexible and feature-rich Comverse Kenan FX solution, Smart.Net can support the needs of our customers and seamlessly grow as we add other market segments, such as financial institutions." "Comverse's Kenan billing platform, deployed extensively in the telco arena around the globe, also provides mission-critical transaction processing solutions for a wide variety of other types of service providers, including the benefits industry and smartcards," said Ramesh Barasia, President of Comverse Americas. "Kenan FX gives Smart.Net the flexibility necessary to handle complex commissioning scenarios demanded by the small payments industry and positions the company to expand operations into other markets." Kenan FX is part of Comverse's billing portfolio, which increases market agility and improves operational efficiency. Comverse's converged and real-time billing solutions support multiple services, networks and payment types, allowing businesses to build revenues and loyalty by providing customers with choice, convenience and control. About Smart.Net Smart.Net is a company focused on intelligent solutions for small payments (micro-payment). Founded in 1998, the company manages an intelligent network directed to transactions of small value and big volumes. Nowadays Smart.Net operates in 1200 cities of the country, in 100% of the States and it has more than 90 thousand registered offices and 5 thousand benefits stations for self-service. There are more than 3.5 million active cards, performing 500 million payment transactions per year, at an average value of US $6 per transaction. In the last five years Smart.Net has received US $30 million of investment. The company's billing growth in 2006 was 90%. About Comverse Comverse is the world's leading provider of software and systems enabling network-based messaging and content value-added services, converged billing and IP communications. Comverse solutions generate revenues, strengthen customer loyalty and improve operational efficiency for over 500 communication service providers in more than 130 countries. The company's Total Communication(SM )portfolio facilitates personalized lifestyles in an evolving connected world and is based on the holistic InSight(TM) Open Services Environment. Comverse's solutions support flexible deployment models, including in-network, hosted and managed services, and can run on circuit-switched, VoIP, IMS and converged network environments. Comverse is a subsidiary of Comverse Technology, Inc. (CMVT.PK). For more information, visit www.comverse.com. All product and company names mentioned herein may be registered trademarks or trademarks of Comverse or the respective referenced company(s). This release contains "forward-looking statements" under the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. There can be no assurances that any forward-looking statements will be achieved, and actual results could differ materially from forecasts and estimates. 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