Bangalore, INDIA: 3 September 2007.Subex Azure Ltd a leading global provider of Operations Support Systems (OSS) solutions for telecom operators, continues to win major Tier-1 OSS contracts in North America with the announcement of two new customer engagements. The new deals include the company’s largest Moneta™ Revenue Assurance contract in its history, with a Tier-1 telecom operator and a major installation of its Syndesis NetProvision automated Service Fulfillment solution for another Tier-1 telecom operator for a national rollout of new VPN services.

Subex Azure will deploy its Moneta™ Revenue Assurance software enterprise-wide to a U.S.-based, Tier-1 telecom operator offering wireless, wireline, broadband and television services to millions of customers. Moneta will be used to audit and monitor inconsistencies in subscription and usage data, leakage of billable events, and data inaccuracies and inconsistencies for a range of value-added services being rolled out by the operator. The implementation also calls for expanded use of Moneta to be deployed to consumer and small business-related service offerings.

Subex Azure also was awarded a contract by one of the largest Tier-1 telecom operators in North America for its Syndesis NetProvision fulfillment solution. The operator provides a complete range of services for business, residential and mobile customers, and selected Subex Azure after a thorough, two-year-long Request for Proposal process. Syndesis NetProvision will be deployed as part of a major technology consolidation initiative that focuses on simplicity, enterprise deployments and process integration. Specifically, Syndesis NetProvision will be used as the default standard for projects identified with network discovery and activation impacts regardless of technology.

“We continue to see strong demand for our OSS solutions from North American telecom operators looking to gain crucial insight into the overall health of their revenue chains,” said Subash Menon, Founder Chairman, Managing Director & CEO, Subex Azure Ltd. “It is our goal to ensure that each and every customer is as nimble, efficient and profitable as possible. These latest wins illustrate how that commitment is resonating with the leading telecom operators in the world.”

A component of Subex Azure’s Rocware™ suite of Revenue Maximization products, Moneta is the leading solution for ensuring the health and vitality of a telecom operator’s revenues. It helps tackle critical Revenue Assurance challenges across the entire revenue chain and provides unprecedented automated correction capabilities to improve bottom-line results and provide a quick return-on-investment. Moneta includes pre-configured solution templates that address Revenue Assurance issues across a broad range of areas, such as Service Fulfillment, Usage Integrity, Retail Billing, Interconnect/Wholesale Billing and Content Settlement.

Syndesis NetProvision automates the design and activation of complex, application-aware connectivity services, enabling flow-through provisioning of next-generation data and IP offerings across multi-vendor, multi-technology networks. Now deployed at more than 20 major carriers around the globe, Syndesis NetProvision has consistently proven itself in complex, high-volume production environments. By ensuring quick, reliable service fulfillment, it accelerates time-to-market for new offerings and facilitates mass-market efficiencies, driving out costs while generating new revenue opportunities. The product uses the most advanced and most widely deployed discovery engine, significantly reducing fallout rates and decreasing the time required to activate a service.

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About Subex Azure Ltd.

Subex Azure is a leading global provider of Operators 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 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.

Further information:

In Europe or Asia please contact Alex Crawshaw or Kate Bonner at Catalysis tel: +44 (0)20 7101 7333 / 7326 alex.crawshaw@catalysis.co.uk   kate.bonner@catalysis.co.uk

In the U.S. please contact Guy Murrel at Catapult PR-IR tel +1 303-581-7760 gmurrel@catapultpr-ir.com

In India please contact Shivaram Lakshminarayan at Genesis Burson-Marsteller PR tel: +91 9886136796 shivaram.l@bm.com