Formula Telecom Solutions, Ltd. (LSE: FTS – News), a global provider of Business Control, Billing and CRM solutions for service and content providers and the telecom industry, today announced that its Leap Billing product has been selected by TeleStrategies, publisher of Billing World & OSS Today, as a Best New Product finalist for its Sixth Annual Excellence Awards. Published 12 times a year, Billing World & OSS Today is the most widely read magazine by back-office software decision makers in the telecommunications industry.

Leap Billing’s uniqueness is its business perspective, which enables providers to focus on subscribers’ retention and satisfaction. Based on FTS’ Leap Business Control and Charging Foundation (Leap BCCFTM), which serves as the underpinning of all FTS’ solutions, Leap Billing is capable of connecting to any network, capturing events generated by the network, the subscribers and the system itself in real-time, and responding to them using business policies. The calculated response is an action that best addresses both customer and operator objectives. Appropriate actions may be provisioning, balance management, rating, or even the sending of an SMS regarding a reward grant. This unique combination of business sense coupled with multi-network interaction opens endless opportunities to providers.

FTS will be presenting its Leap Billing RCTM – FTS’ North American-focused family of billing solutions – at TeleStrategies’ Billing and OSS World Conference in Miami Beach on May 3-5, 2006. Leap Billing RC touches all aspects of the service provider’s revenue chain, from back office processing and data exchange between systems, to direct interactions with customers and reconciliation and settlements with partners. Built on the industry’s most innovative Internet Integration Architecture (IIA®), a “zero code” client architecture, Leap Billing RC delivers unlimited flexibility for evolving businesses.

“We are very proud that Leap Billing has been selected by TeleStrategies as a finalist in their Best New Product category,” said Yair M. Sakov, Vice President of Marketing and Business Development. “This recognition is further testimony to the accolades we have been receiving, not only from industry observers, but more importantly from our customers who are very happy with Leap Billing’s exceptional functionality, its ease of use, and its ability to increase the loyalty of their own customers.”

FTS is a Gold Sponsor at the Billing and OSS World Conference in the Miami Beach Convention Center and will be exhibiting in booth 221. In addition, Mr. Sakov will be delivering a presentation at the conference, titled “Flat Rate or Flat Broke – Increasing ARPU with Flat Rate Pricing,” discussing real examples where operators have used simple yet innovative schemes to increase ARPU by building on top of flat-rate pricing. The presentation will be delivered on Thursday, May 4. For a personal appointment with FTS, please contact us.info@fts-soft.com.

About Formula Telecom Solutions (FTS)
Formula Telecom Solutions (LSE: FTS – News) is a leading global provider of billing and CRM solutions for service and content providers and the telecom industry. With customers in 40 countries, FTS delivers end-to-end and modular solutions to traditional operators and to providers of the world’s most advanced next-generation services. The FTS track record of successfully 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 – News), FTS is a CRM and billing one-stop shop. In January 2006, FTS was ranked as the 54th fastest growing technology company on the 2005 Deloitte Technology Fast-500 EMEA.