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Tier 1 APAC Operator Renews Redknee Support Contract

TORONTO – April 24, 2013 Redknee (TSX:RKN), a leading provider of business-critical billing and charging software and solutions for communications service providers, is pleased to announce that it has renewed a multi-million dollar support contract upon similar commercial terms. The renewal contract will see Redknee enable the APAC communication service provider (CSP) to deliver services to its 30 million subscribers and will support its future growth strategy.

The service provider’s decision to continue its investment with Redknee is in response to the success that the CSP is experiencing in the high-growth market it operates in and in preparation for the launch of 3G services. Redknee’s highly scalable and agile converged billing, charging, customer care, and payments solution is supporting mobile network operators (MNOs), mobile virtual network operators/enablers (MVNO/Es) and other communications service providers to deliver an advanced customer experience, increase revenues and improve profitability.

Lucas Skoczkowski, Redknee’s CEO commented:

“This increased investment in Redknee by our customer in Asia Pacific is indicative of the positive impact that the growth of 3G and LTE adoption will have on increasing traffic and revenues for communications service providers. We are pleased with the support we are receiving from our new customers, as we continue to integrate the most recent acquisition and create a compelling new provider of choice in the real-time monetization and subscriber management software space.”
Redknee supports communication service providers with a complete portfolio of monetization and subscriber management solutions for mobile network operators, MVNE/Os, and service providers across the world. Redknee enables CSPs to monetize and optimize the subscriber experience across the entire customer lifecycle. From activation to provisioning, to providing a 360 degree view of the customers’ usage, preferences, and integration with 3rd party social media sites, to empowering customers with self-care tools and the ability to pay for services on the go, Redknee provides the industry’s most comprehensive real-time converged billing, charging, customer care and payments solution.  Redknee’s highly scalable and flexible solution enables CSPs to monetize third party relationships and content, support resellers and dealers and launch multi-country operations quickly, effectively and with a low total cost of ownership. Available on-premise, cloud-based and as a Software-as-a-Service offering, Redknee provides a complete monetization and subscriber management solution to more than 200 service providers, including some of the largest Tier 1 operators in the world. 

For more information about Redknee and its solutions, please go to www.redknee.com.

Forward-Looking Statements

Certain statements in this document, including the extent of revenue that may be realized by Redknee from the contract entered into to deploy its wholesale billing and settlement solution and the ability of that solution to enable customers to maximize the value of their network may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this document, such statements use such words as "may," "will," "expect," "continue," "believe," "plan," "intend," "would," "could," "should," "anticipate" and other similar terminology. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Persons reading this news release are cautioned that such information may not be appropriate for other purposes.

Such forward-looking statements include the statements regarding financial and other projections as well as statements regarding Redknee's future plans, objectives or performance for the current period and subsequent periods and regarding the markets for our products. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date of this document. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements, including, but not limited to, the inability of Redknee to meet performance metrics specified under the contract or otherwise satisfy its obligations required to be performed under the contract, a material adverse change in the affairs of Redknee, and the factors discussed under the "Risk Factors" section of Redknee’s most recently filed AIF which is available on SEDAR at www.sedar.com and on Redknee's web-site at www.redknee.com. "Risk Factors." Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements.

Although the forward-looking statements contained in this document are based upon what we believe are reasonable assumptions, we cannot assure investors that our actual results will be consistent with these forward-looking statements. We assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances, except as required by securities law. 

For additional information please contact:

Redknee Solutions:
Ashleigh Young, Corporate Communications
+1 905 625 2733

David Charron, Chief Financial Officer
+1 905 625 2943

Investor Relations:
Matt Glover or Michael Koehler
Liolios Group, Inc.
+1 949 574 3860


Media Enquiries: media@redknee.com

About Redknee:
Redknee monetizes today's digital world for communications service providers. Our market-leading portfolio of monetization and subscriber management solutions includes real-time billing, charging, policy and customer care modules and is available on premise, cloud-based, or as Software-as-a-Service. With a central focus on driving customer success, Redknee's products power growth and innovation for operators globally. Established in 1999, Redknee Solutions Inc. (TSX: RKN) can be found on the Toronto Stock Exchange. For more information about Redknee, please go to www.redknee.com.


For additional information please contact:

Redknee Solutions:

Kristin Donelson
Kristin.Donelson@redknee.com
+1 905 625 2190

Investor Relations:
Katelynn Thissen
NATIONAL | Equicom
T: (416) 848-1427
kthissen@national.ca