BANGALORE, India, October 1 /PRNewswire/ --     Subex Azure Ltd, a leading global provider of Operations
Support Systems (OSS) solutions for telecom operators, announced today that
it has completed 180 days of successful integration of Syndesis Ltd, a
leading provider of telecom OSS solutions, with recognised leadership in
Fulfillment and Assurance solutions (FAS). The first quarter, post the
acquisition has brought in revenues of Rs. 440 million from the FAS business
unit.

Post the completion of the acquisition on 1 April 2007, Subex
Azure has had eight new wins including three FAS customers. During this
period, the company also launched its first FAS offering, the
subscriber-centric VoIP Express bundles, that accelerate the creation and
automate the complex provisioning of VoIP offerings for business and consumer
markets.

Subash Menon, Chairman, Managing Director & CEO, Subex Azure
Ltd said, "This seamless transition is yet another example of Subex Azure's
inherent ability to create immense value out of every acquisition. The
momentum is expected to pick up further in coming months, and help us achieve
our target of US $130 million by the end of this fiscal."

Dedicated teams have been formed to see through the
integration process, an integration camp was set up in Toronto and
recruitment was stepped up to cater to the increased requirement. All
departments except engineering have been completely integrated.

With this acquisition Subex Azure is now able to offer its
customers solutions that would help them practice Operational Dexterity, a
concept that includes Revenue Maximization as well Service Fulfillment, to
deliver competitive advantage.

About Subex Azure Ltd.

Subex Azure is a leading global provider of Operation Support
Systems (OSS) solutions with a mission to empower telecom operators to
achieve competitive advantage and deliver new service experiences to
subscribers. The company pioneered the strategic concept of the Revenue
Operations Center (ROC) - a centralized and integrated infrastructure for
end-to-end monitoring, measurement and control of the operator's revenue
chain - to foster operational dexterity and hence sustained profitability.

Subex Azure's software portfolio powers the ROC and its
best-in-class solutions enable new service creation, subscriber-centric
fulfillment, provisioning automation, revenue assurance & cost management,
data integrity management, fraud management and interconnect/interparty
settlement.

Subex Azure's customers include 32 of the world's 50 largest
telecom operators by revenue.

The company has more than 150 installations in over 60
countries. Subex Azure was named in the prestigious Deloitte Technology Fast
500 Asia Pacific 2006 list of companies, underlining the company's growth and
leadership status.

For more information please visit http://www.subexazure.com

Forward Looking and Cautionary Statements

Certain statements in this release concerning Subex Azure's
products, strategy and future growth prospects are forward -looking
statements, which involve a number of risks, and uncertainties that could
cause actual results to differ materially from those in such forward -looking
statements. The risks and uncertainties relating to these statements include,
but are not limited to, market acceptance of Subex Azure's products and
services, Subex Azure's ability to implement its growth strategy, competition
in Subex Azure's areas of business and general economic conditions affecting
the telecom industry.