Commenting on the results, Intec Executive Chairman Mike Frayne said, “In 2004 Intec has become one of the top five players in the OSS/BSS market worldwide, through both our acquisition of Singl.eView and the strong organic growth we have generated in the core business. Growth in revenues and earnings has substantially exceeded the industry average, and we have also enhanced our cash position, despite strong investment in all aspects of the business. Although we see continuing competitive conditions in the telecom market, the important opportunities we are now engaged with for Singl.eView and other key products give me confidence that Intec has strong prospects for 2005 and beyond.”

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.Intec Telecom Systems PLC Releases Audited Preliminary Results for the Year Ended September 30, 2004

— Adjusted profit before tax up 54% on revenue increase of 36% —

London/Atlanta, November 30, 2004 - Intec Telecom Systems PLC (“Intec” or “the Company”) [LSE: ITL], a global provider of enterprise-level software and services, today announced its audited results for the year ended September 30, 2004. The Company reported growth of over 35% in both profitability and revenues, positive operating cash flow despite continued strong investment in business growth, and a total of 100 new customers won or acquired in fiscal 2004. During the year Intec also made an important acquisition, the ‘Singl.eView’ retail billing business of ADC, which is now generating substantial new business opportunities for the company.

Intec Telecom Systems Financial and Operating Highlights

  • Revenues for the year ended September 30, 2004 increased by 36% (30% organic) to £68.8 million ($130.38 million) [year ended 30 September 2003: £50.7 million ($90.3 million)].
  • Adjusted profit before tax substantially increased to £8.3 million ($15.7 million) [2003: £5.4 million ($9.6 million)].
  • Positive operating cash inflow of £4.6 million ($8.7 million) generated during the year [2003: inflow of £8.5 million ($15 million).
  • Operating loss of £1.4 million ($2.7 million) [2003: £1.9 million ($3.4 million)] attributable to goodwill and intangible amortisation of £8.8 million ($16.7 million).
  • Loss before tax £1.2 million ($2.3 million) [2003: £1.8 million ($3.2 million)].
  • Customer base increased by 27% to 465, with important new customer wins in the UK, US, Europe, Latin America, and Asia.
  • $74.5 million acquisition of ‘Singl.eView’ retail billing business concluded during the year.
  • Gross margin improved to 72% (2003: 70%).
  • Cash and cash equivalents stand at £32.2 million ($61 million) [2003: £15.3 million ($27.2 million].
  • Several new products introduced to complement core billing and mediation families.
  • Strong pipeline for 2005.

Intec CEO Kevin Adams added, “Intec has won and acquired many new customers in 2004, including a number of multi-million Pound contracts around the world. Execution of our long-term strategy of high-quality, profitable growth has continued, with expansion in all areas of the business. Integrating Singl.eView, although clearly a large project, and restoring sales momentum to its pipeline, are both progressing very well, and we are cautiously confident that we can meet our objectives in 2005.”

About Intec Billing

Intec is a leading OSS product vendor for fixed, mobile and next-generation networks (i.e. WLAN, 3G and IP), with more than 650 installations of its products worldwide in 450 customers. Founded in 1997, Intec was listed on the London Stock Exchange in June 2000. Intec is a market leader in inter-carrier billing systems and convergent mediation software, and has recently acquired strong capabilities in retail billing, IP billing and real-time mobile service charging and control. For the year ended 30 September 2003, Intec reported revenues of £50.7 million, with adjusted net earnings after tax of £4.1 million.

Intec’s product portfolio includes:
· Singl.eView™ – dynamic transaction management/retail billing - also referred to as Singleview.
· Inter-mediatE™ – convergent billing mediation solution;
· InterconnecT™ – inter-carrier billing including US CABS and ITU-based settlement;
· Inter-activatE™ – flow-through provisioning and activation;
· InterconnecT CPM™ – end-to-end content partner management; and
· Intec DCP™ (Dynamic Charging Platform) – real-time pre/post-paid charging.

For more information about Intec and its products and solutions visit www.intecbilling.com.


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