Camtel Selects Formula Telecom Solutions' Leap Nextgen Rating, Billing and Customer Care Platform

FTS Signs Multi-Million Dollar Deal with Cameroon’s Incumbent Telephone Operator

January 24, 2006

Herzliya, Israel | January 24, 2006: Formula Telecom Solutions, Ltd. (LSE: FTS), a leading global provider of Billing and CRM solutions for service and content providers and the telecom industry, today announced that Cameroon Telecommunications (Camtel) has selected FTS to provide it with the Leap NextGen Rating, Billing and Customer Care platform  as well as a state-of-the art mediation solution.  Leap NextGen offers Camtel, Cameroon's national PSTN operator, an end-to-end billing, customer care and business management tool designed for wide functionality and improved revenue collection.

"Camtel’s purpose in selecting FTS was to bring in a reliable and accurate answer for our rating and billing needs, both current and future, and for carrying out a seamless migration from our legacy system," said David Nkoto Emane, Camtel's Director General. "My objective is to continuously advance Camtel's portfolio of offerings and our recent introduction of CDMA services is a good example. Leap NextGen's unique Business Control and Rating Infrastructure, which essentially allows us to easily create and design service plans utilizing a single GUI , gives us all the flexibility we need to move forward and position Camtel as a telecommunications leader in Africa."

"This significant contract, based on our Leap NextGen platform, is testimony not only to our commitment to the African market but also to FTS' exceptional ability to support any type of service provider, whether wireless, wireline, internet, cable or content," said Norman Tutnauer, FTS' Vice President of Worldwide Sales. "Moreover, Leap NextGen is highly scalable, and easily adapts to growing customers, such as Camtel, without requiring further infusions of capital."  

Deployed around the world, Leap NextGen is a comprehensive real-time business control, rating, billing and customer care solution, enabling operators of all classes to service subscribers with a holistic view of their unique and personalized needs. As a result, operators can expect higher subscriber retention rates. Leap NextGen performs these operations while maintaining superior performance. Leap NextGen's Business Control and Rating Infrastructure is based on FTS' patented Decision Operation Tree (DO Tree™), an extremely flexible business rule and real-time engine that employs a 100% web-based client and facilitates the customization of features and corresponding business rules over any delivery network.   

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About Camtel
Cameroon Telecommunications (Camtel) is Cameroon's national telecommunications service provider, offering voice, data, VSAT and internet services. Established in 1998, Camtel is wholly owned by the Government of Cameroon and serves its local high-tech, industrial and service sectors. Camtel's modern CAMPAC packet transmission network, and its full range of advanced telephony services, operates as the hub for Cameroon's lively national and international commercial transactions and business communications. For more information, please visit Camtel at:  http://www.camnet.cm/.

About Formula Telecom Solutions (FTS)
Formula Telecom Solutions (LSE: FTS) is a leading global provider of billing and CRM solutions for service and content providers and the telecom industry. With 70 plus customers on six continents, FTS delivers end-to-end and modular solutions to traditional operators and to providers of the world’s most advanced next-generation services. FTS' track record of implementing complex projects enables customers to keep up with the ever-changing requirements of the industry. Combining on-time, on-budget project delivery with the extensive resources of the Formula Group (NASDAQ: FORTY), FTS is a CRM and billing one-stop shop. For more information, please visit us at www.fts-soft.com.

SAFE HARBOR: Certain statements contained in this release may be deemed forward-looking statements, with respect to plans, projections, or future performance of the Company, the occurrence of which involves certain risks and uncertainties that could cause actual plans to differ materially from these statements. These risks and uncertainties include but are not limited to: market demand for the Company's tools, successful implementation of the Company's tools, competitive factors, the ability to manage the Company's growth, the ability to recruit and retrain additional software personnel, and the ability to develop new business lines.

For further information please contact:
F.T.S. - Formula Telecom Solutions Ltd.
investors@fts-soft.com
Moshe Peterfreund, Tel. +972 9 952 6536

Ruder Finn
Glenn Jasper, Tel. +972-54-467-6981, glenn@ruderfinn.co.il