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Formula Telecom Solutions Wins $10.5M Contract from MobilTel

Added: (Tue Sep 04 2001)

Pressbox (Press Release) - Major Contract Signifies Strong Value Proposition for Integrated Billing and
CRM Solutions

HERZELIA, ISRAEL - September 4, 2001 - Formula Telecom Solutions Ltd., a
developer and provider of end-to-end telecom management solutions, announced
today that it has been awarded a contract for $10.5M from MobilTel,
Bulgaria's GSM operator. The contract is for the delivery and implementation
of Formula Telecom Solutions' Leap Billing and Leap CRM (customer
relationship management) modules, part of its comprehensive Leap Plus
solution for telco management.

Formula Telecom Solutions' Leap Plus technology and applications will
provide MobilTel with a fully integrated management environment that will
initially cover billing and customer care services. These will enable
MobilTel to increase flexibility and availability for new and sophisticated
pricing plans while providing for network growth of several million
subscribers and maintaining excellent competitive service.

"MobilTel is a fast-growing European GSM operator with a rapidly expanding
subscriber base," commented Moshe Achiron, CEO MobilTel. "When looking for a
vendor to fulfill our telecom management needs, we were impressed with the
modular, integrated solution from Formula Telecom Solutions. We are
augmenting our portfolio of services and Formula Telecom Solutions' billing
and CRM systems provide us with the capacity to meet our aggressive growth
schedule. We are confident that the Leap Plus solution will add value to
MobilTel and, in turn, to our customers."

"Our success in securing this significant contract from MobilTel illustrates
a growing trend among telecom operators worldwide," said Amos Sivan, CEO
Formula Telecom Solutions. "Delivering solutions that offer stronger core
billing and customer care functions, with the scalability and flexibility to
incorporate operators' additional expansions in their subscriber bases and
service offerings, demonstrates the value that we are bringing to MobilTel."

Formula Telecom Solutions' Leap Plus solution is driven by its proprietary
Leap Technology. The core of the Leap Technology is a user-maintainable
workflow engine that enables dynamic definition of organizational policies
and operational procedures by the operator, while allowing full integration
with existing systems. Leap Technology enhances operator efficiency by
providing a range of benefits including:

Productivity - rapid configuration and implementation of new services,
rating and discount scenarios with no changes to the core of the system.
Scalability - Leap Plus grows with an operator in two ways. It allows
operators to expand their networks to accommodate the most aggressive
increases in their subscriber bases and supports substantial growth in usage
data associated with the rollout of new product offerings.
Flexibility - changes in the competitive business environment can be
easily incorporated into the solution through the Plug and Rate(tm) engine
that allows instant comparisons with competitors' new tariff structures and
rapid implementation of new product offerings initiated by an operator's
marketing departments.

About MobilTel

MobilTel is Bulgaria's GSM operator. The company offers its customers high
quality telephone service and many other related connectivity services
through its daughter companies including internet access, voice services,
data networking and global positioning services (GPS). Founded in 1984,
MobilTel has over 900,000 subscribers and roaming agreements with over 220
GSM operators in more than 96 countries. For more information, visit the
website at www.mobiltel.bg.

About Formula Telecom Solutions Ltd:

Formula Telecom Solutions is a global telecom management solution provider
for wireline, wireless and convergent operators. Its Leap Plus solution,
based on its proprietary Leap Technology, provides end-to-end management of
the telecom network, allowing operators to implement modular solutions for
complete control of their telecom environment and respond effectively to
rapidly changing market conditions. Formula Telecom Solutions is a private
company, based in Herzelia, Israel. Its investors include Formula Systems
Ltd., Elgadcom Group, and private investors. For more information, please
visit the website at www.fts-soft.com.

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