ACE*COMM Attracts Strategic Investment From SGF.

Business Editors/High-Tech Writers

GAITHERSBURG, Md.--(BUSINESS WIRE)--May 13, 2003

Societe generale de financement du Quebec (SGF) and ACE*COMM Agree

on Terms to Partner for Strategic Growth in Quebec

ACE*COMM Corporation (NASDAQ:ACEC), a global provider of advanced operations support systems (OSS) technologies, is pleased to announce that it has reached an agreement in principle with SGF Tech Inc., a wholly-owned subsidiary of Societe generale de financement du Quebec (SGF), for the financing of planned corporate development initiatives aimed at significantly augmenting the Company's presence in the province of Quebec.

SGF Tech Inc. would invest in ACE*COMM amounts in the order of US$ 4.5 million out of a US$ 6.5 million financing arrangement. This agreement is subject to due diligence and approval by the boards of directors of ACE*COMM and SGF. The closing is expected to take place by the end of June 2003. The details of the agreement will be announced after closing.

The investment will enable ACE*COMM to draw on a well-trained and knowledgeable resource base and industry leading technologies in the province of Quebec.

An industrial and financial holding company, SGF provides businesses with development capital based on profitability and performance. With a focus on Quebec and long-term economic development, SGF chooses projects that promise high profitability in ten industry sectors, from natural resources to high technology.

ACE*COMM has maintained a sales, marketing, and engineering presence in Montreal since 1996. Solutions ACE*COMM (ACE*COMM's wholly-owned subsidiary in the Province of Quebec) currently constitutes the Company's second largest staffing component.

Given its history in Quebec, the Company views the SGF partnership as a logical next step in driving strategic growth globally through expanded initiatives in this region.

About SGF

The mission of the Societe generale de financement du Quebec (SGF) is to carry out economic development projects in cooperation with partners and in accordance with accepted requirements for profitability. Since it was restructured in 1998, SGF has generated CAD$10.6 billion in investments and created more than 56,000 direct and indirect jobs.

As of December 31, 2001, SGF's consolidated assets totaled over CAD$3 billion. SGF has 65 international partners operating in Quebec. (www.sgfqc.com)

About ACE*COMM

ACE*COMM is a global provider of advanced Convergent Mediation(TM) products and Enterprise Telemanagement software applications. ACE*COMM's solutions are employed in wired and wireless networks that deliver voice, data, mixed media and Internet communications. Their proven technology provides the ability to capture, secure, validate, and enhance data from multiple networks.

These operations are performed interactively with a data warehouse, and processed information is distributed in near real-time, to all types of carrier OSS (Operations Support Systems) and BSS (Business Support Systems). Solutions are matched to each customer's business environment.

They provide the analytical tools required to extract knowledge from operating networks - knowledge our customers use to generate more revenue, reduce costs, accelerate time-to-market for new services, and deliver more effective customer support.

For more than 20 years, ACE*COMM technology has been effectively deployed in over 3500 installations in more than 65 countries world-wide - including over 100 installations in China - enabling the success of customers and partners such as AT&T, Cisco, Marconi, Motorola, Alcatel, General Dynamics, TRW, Unisys and Siemens. ACE*COMM is a registered ISO 9001 quality standard company.

For more information, visit www.acecomm.com.

ACE*COMM, the ACE*COMM logo and N*VISION are registered trademarks, and Convergent Mediation is a trademark of ACE*COMM Corporation.

Except for historical information, the matters discussed in this news release include forward-looking statements that are subject to certain risks and uncertainties that could cause the actual future events to differ materially from those projected, including, but not limited to: the failure of anticipated demand to materialize, delays or cancellations of orders due to various factors, including business and economic conditions in the U.S. and foreign countries; international political conflicts and wars; national and international health crises; industry-wide slowdowns, any limitations on customers' financial resources, the continued convergence of voice and data networks, the continuing success of the Company's strategic alliances for product development and marketing, customer purchasing and budgetary patterns or lack thereof; pricing pressures and the impact of competitive products; the timely development and acceptance of new products; the Company's ability to adequately support its operations, and other risks detailed from time to time in the Company's Report on Form 10-Q and other reports filed with the Securities Exchange Commission.

The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based.