GLOBUL Reports Fast Take-Up of Comverse Fun Dial(TM) Ringback Tone Service in Bulgaria.

WAKEFIELD, Mass. -- 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 GLOBUL, a member of the COSMOTE group and Bulgaria's second-largest mobile operator, has deployed Comverse Fun Dial[TM] to enable its more than three million customers to enjoy personalized ringback tone service. GLOBUL reports high Fun Dial market penetration and usage in the first months of service.

Fun Dial (called "Fun Call" by GLOBUL) is a personalization tool that enables GLOBUL subscribers to replace the standard ringing tone that callers hear while waiting for the phone to be answered with a rich selection of music. Special content can also be coordinated with major events. Within three months of the September 2006 launch of the service, Fun Dial had already made its mark as a very popular service with record-breaking penetration.

GLOBUL Products & Services Director Dimitris Lioupis took note of the quick popularity of the ringback tone service, "Fun Dial is enormously popular because it gives users a new way to be unique and innovative, with an attractive and intuitive user interface that makes the service easy and fun to use. Fun Dial takeup has been especially fast in the youth segment, and we have been gratified to see broad usage of the service in other segments as well. Comverse assistance with valuable information such as market analyses and marketing best practices enabled GLOBUL to form an optimal launch plan that drove this success."

"Much credit goes to GLOBUL for the outstanding market success of Fun Dial in Bulgaria," said Gadi Bahat, President of Comverse's EMEA division. "Recognizing the inherent customer appeal of music, entertainment, personalization and self-expression, GLOBUL demonstrates the value of their methodical approach: selecting the right content and deploying and promoting the service in accordance with industry best practices. GLOBUL joins many other Fun Dial success stories around the world, showing how Fun Dial differentiates the network, increases customer satisfaction and loyalty, and boosts content usage -- delivering quick return on investment. Moreover, Comverse Fun Dial is a springboard to other successful content services."

About GLOBUL

GLOBUL is the trademark under which Cosmo Bulgaria Mobile EAD offers mobile telecommunications services in Bulgaria. The company is 100% owned by the leading mobile telecommunications company in Greece, COSMOTE. As of the end of November 2006, GLOBUL had over 3 million subscribers, while its services are available to 99.8% of Bulgaria's population, covering over 97.2% of the country's territory.

About Comverse

Comverse, a subsidiary of Comverse Technology, Inc. (OTC: CMVT.PK), is the world's leading provider of software and systems enabling network-based multimedia enhanced communication and billing services. The company's Total Communication(SM) portfolio includes value-added messaging, personalized data and content-based services, and real-time converged billing solutions. Over 450 communication and content service providers in more than 120 countries use Comverse products to generate revenues, strengthen customer loyalty and improve operational efficiency. For additional information, visit the Comverse website at www.comverse.com or the Comverse Technology website at www.cmvt.com.

All product and company names mentioned herein may be registered trademarks or trademarks of Comverse or the respective referenced company(s).

Note: 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 forward-looking statements will be achieved, and actual results could differ materially from forecasts and estimates. Important factors that could cause actual results to differ materially include: the results of the investigation of the Special Committee, appointed by the Board of Directors on March 14, 2006, of matters relating to the company's stock option grant practices and other accounting matters, including errors in revenue recognition, errors in the recording of deferred tax accounts, expense misclassification, the possible misuse of accounting reserves and the understatement of backlog; the impact of any restatement of financial statements of the company or other actions that may be taken or required as a result of such reviews; the company's inability to file reports with the Securities and Exchange Commission; the effects of the delisting of the company's common stock from The Nasdaq National Market and the quotation of the company's common stock in the "Pink Sheets," including any adverse effects relating to the trading of the stock due to, among other things, the absence of market makers; the right of holders of the company's ZYPS to require the company to repurchase their ZYPS as a result of the delisting of the company's shares from NASDAQ at a repurchase price equal to 100% of the principal amount of ZYPS to be purchased; risks of litigation and of governmental investigations or proceedings arising out of or related to the company's stock option grants or any other accounting irregularities or any restatement of the financial statements of the company, including the direct and indirect costs of such investigations and restatement; risks associated with integrating the businesses and employees of the Global Software Services division acquired from CSG Systems International, Netcentrex S.A. and Netonomy, Inc.; changes in the demand for the company's products; changes in capital spending among the company's current and prospective customers; the risks associated with the sale of large, complex, high capacity systems and with new product introductions as well as the uncertainty of customer acceptance of these new or enhanced products from either the company or its competition; risks associated with rapidly changing technology and the ability of the company to introduce new products on a timely and cost-effective basis; aggressive competition may force the company to reduce prices; a failure to compensate any decrease in the sale of the company's traditional products with a corresponding increase in sales of new products; risks associated with changes in the competitive or regulatory environment in which the company operates; risks associated with prosecuting or defending allegations or claims of infringement of intellectual property rights; risks associated with significant foreign operations and international sales and investment activities, including fluctuations in foreign currency exchange rates, interest rates, and valuations of public and private equity; the volatility of macroeconomic and industry conditions and the international marketplace; risks associated with the company's ability to retain existing personnel and recruit and retain qualified personnel; and other risks described in filings with the Securities and Exchange Commission.

These risks and uncertainties discussed above, as well as others, are discussed in greater detail in the filings of the company with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These documents are available through the company, or its website, www.cmvt.com, or through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov. The Company makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made.