Am-Beo Caps Second Round Financing With Intel Investment; Funding Will Support Growth Strategy of Launching Global Customer Support, Sales and Marketing Initiatives.

Business Editors, Technology Writers

GALWAY, Ireland--(BUSINESS WIRE)--Dec. 2, 2002

Am-Beo(TM), a global provider of rating and revenue settlement solutions for communication service providers, announced today that Intel Capital has contributed to its second round of funding that now totals Euro 12.5 million (U.S. $12.5 million). Intel Capital joins Advent Venture Partners and ACT Venture Capital in this second round of funding, bringing the total amount raised to date by Am-Beo to Euro 20 million (U.S. $20 million).

"Having Intel join Advent and ACT, two highly respected venture firms, helps supply the financial resources needed to execute our global growth strategy," said John Brady, president and CEO of Am-Beo. "Our focus on and commitment to developing world-class rating and revenue settlement solutions, designed to enhance the financial performance of our customers, is further strengthened with this funding initiative."

Am-Beo provides flexible software solutions that allow customers to easily implement sophisticated, value-based pricing for next-generation products and services over 3G, Internet and Wireless-LAN networks. Am-Beo's software provides the capability to price a specific service based on multiple parameters, and also to manage and settle the flow of revenue between the various partners that deliver products and services to the marketplace.

Am-Beo's software works with existing billing systems, thereby minimizing the expense and potential risk of implementing new software. By enhancing the overall billing function, it adds revenue settlement, roaming and rating capabilities required for next-generation business models.

"Businesses and people are becoming more mobile, posing new challenges to service providers that supply connectivity to networks and the Internet," said Mr. Stacy Smith, vice president and general manager of Intel Europe Middle East and Africa (EMEA). "Intel Capital invested in Am-Beo because it has developed technology that is designed to address the critical business challenges in the communications industry of being able to generate revenue from new and emerging network services."

Intel Capital has invested in Am-Beo to accelerate the development and marketing of its software products for Intel's Itanium(TM) processor (IA-64) product family.

Sinead Donnellan, vice president of finance for Am-Beo, helped spearhead the funding process together with Dublin-based Ion Equity acting as corporate finance advisor for the transaction. "Now that we've closed on our second round of funding we can focus exclusively on executing our business strategy and building our customer base in Europe and North America," said Donnellan.

ABOUT AM-BEO's INVESTORS

ACT Venture Capital

ACT Venture Capital is the leading venture capital firm in Ireland with EUR 350 million under management. Its focus is high-growth Irish technology companies with global market potential. ACT's funding is sourced from leading Irish and international investment institutions. The Irish investors include six of the top investment institutions. International investors include Merrill Lynch, European Investment Fund, Access Capital Partners, Partners Group, NIB Capital and Extorel.

Advent Venture Partners

Advent Venture Partners, based in London, was founded in 1981 and is one of the longest established independent technology venture capital firms. Advent specialises in information technology (software, electronics, telecommunications and photonics) and healthcare (biotechnology, pharmaceuticals and medical devices) investments in the UK, Continental Europe and the United States. Advent Ventures has helped IT companies to grow into major global businesses, such as Borland International and Royalblue plc.

Advent Venture Partners and its associates currently have total funds under management in excess of EUR 760 million and is currently investing a EUR 480 million fund raised in early 2001. Since 1981, the company has funded over 170 companies in the UK, Europe and the US. Advent typically invests between EUR 7 million and EUR 30 million in companies from start-up through to pre-flotation stage.

Intel Capital

Intel Capital, Intel's strategic investment program, is one of the largest worldwide corporate venture programs investing in the technology segment. With an overall strategy to stimulate advances in computing and communications, the Intel Capital team seeks out and invests in promising companies worldwide working together to establish new and innovative technologies, develop industry standard solutions, drive Internet growth and advance the computing platform. More information about Intel Capital can be found at http://www.intel.com/capital/

ABOUT AM-BEO

Based in Galway, Ireland and with offices in France, Spain and the United States, Am-Beo is a global provider of real-time rating and settlement solutions for the communications and next-generation services industry. Am-Beo's flagship product, rate-rec(TM), provides rating and revenue settlement for voice, data, content and other usage-based services. Am-Beo also provides Roam Manager(TM) for inter-carrier roaming agreements and settlements. Tornado Insider recently recognized the company as one of the Top-10 emerging companies in Europe. For more information, visit the company's Web site at www.am-beo.com.