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MTS Announces Receipt of NASDAQ Notice of Failure to Comply with Continued
Listing Requirement
RA'ANANA, Israel, November 19 - MTS - Mer Telemanagement Solutions Ltd. (Nasdaq:
MTSL), a global provider of business support systems (BSS) for comprehensive
telecommunication management and customer care & billing (CC&B) solutions, today
announced that on November 14, 2007 it received a NASDAQ Staff Determination
letter indicating that MTS has failed to comply with the continued listing
requirement that the Company maintain either a minimum $2,500,000 stockholders'
equity or $35,000,000 market value of listed securities or $500,000 of net
income from continuing operations for the most recently completed fiscal year or
two of the three most recently completed fiscal years, as set forth in NASDAQ
Marketplace Rule 4320(e)(2)(B), and that the Staff is therefore reviewing the
Company's eligibility for continued listing on The NASDAQ Capital Market. In
accordance with NASDAQ Marketplace Rule 4320(e)(2)(D), MTS has 30 calendar days,
or until December 14, 2007, to regain compliance with such continued listing
requirement. The Company is considering its options to regain compliance with
the continued listing requirement.
About MTS
Mer Telemanagement Solutions Ltd. (MTS) is a worldwide provider of innovative
solutions for comprehensive telecommunications expense management (TEM) used by
enterprises, and for business support systems (BSS) used by information and
telecommunication service providers.
Since 1984, MTS Telecommunications' expense management solutions have been used
by thousands of enterprises and organizations to ensure that their
telecommunication services are acquired, provisioned, and invoiced correctly. In
addition, the MTS's Application Suite has provided customers with a unified view
of telecommunication usage, proactive budget control, personal call management,
employee cost awareness and more.
MTS's solutions for Information and Telecommunication Service Providers are used
worldwide by wireless and wireline service providers for interconnect billing,
partner revenue management and for charging and invoicing their customers. MTS
has pre-configured solutions to support emerging carriers of focused solutions
(e.g. IPTV, VoIP, MVNO) to rapidly install a full-featured and scaleable
solution. MTS's unique technology reduces integration risks and lessens revenue
leakage by using the very same system to manage retail and wholesale business as
well as supporting multiple business units. Total cost of ownership (TCO) is
reduced by providing web-based customer self-care and provisioning.
Headquartered in Israel, MTS markets its solutions through wholly owned
subsidiaries in the United States, Hong Kong, The Netherlands, and Brazil, as
well as through OEM partnerships with Siemens, Phillips, NEC and other vendors.
MTS shares are traded on the NASDAQ Capital Market (symbol MTSL). For more
information please visit the MTS web site: www.mtsint.com.
Contacts:
Company:
Alon Mualem
CFO
Tel: +972-9-762-1733
Email: Alon.Mualem@mtsint.com