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Sri Lanka Telecom Goes Live with Carrier Cockpit(TM) from Ascade and Millennium IT

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Ascade AB

Soder Malarstrand 29, Stockholm, SE-100 64, Sweden

Original Press Release

Sri Lanka Telecom Goes Live with Carrier Cockpit(TM) from Ascade and Millennium IT

Press release date: May 21, 2007

STOCKHOLM, May 21 -- Ascade, the global market-leader of Interconnect Solutions, today announced that it has successfully implemented its Routing & Trading solution for International traffic at Sri Lanka Telecom (SLT) since October 2006. After a thorough evaluation, SLT has selected and implemented Ascade's leading software, Carrier Cockpit(TM) Suite, to manage its rapidly growing international carrier voice business.

"We were happy with Ascade's extensive carrier industry experience and delivery team. Through the partnership with regional operators, we will increase our traffic volumes substantially. I am confident that Carrier Cockpit(TM) will continue to support us in order to handle this growth", comments Mr. CBR Perrera, Chief Global Officer of SLT.

"MilleniumIT is very pleased to have partnered with Ascade AB, Sweden, a leader in its field, in providing a Routing & Trading solution to SLT", says Mr. Peter D'Almeida, Chief Executive Officer, Enterprise and Service Provider business of MilleniumIT. "As a premier technology and business partner of SLT, we believe this strategic initiative will help SLT to handle increasing international voice traffic while enhancing overall profitability by optimizing the call routing process."

"SLT is going through an interesting development where they will grow their volumes rapidly. We are pleased that we were considered as the only valid option to handle their strong expansion and we look forward to working closely with SLT to ensure that they achieve their ambitious targets", comments Henrik Anderberg, CEO of Ascade.

Through the implementation of Carrier Cockpit(TM), SLT benefits from unprecedented financial control and risk management. Carrier Cockpit(TM) provides extensive business reporting and flexibility for the users to drill down on all its key business performance metric and efficiencies in the voice traffic supply chain. It enables real-time control of its wholesale business profitability.

"We have seen many cases where carriers have benefited tremendously from our business performance analysis and control of their margins on specific customers and products. To be successful on today's market, you must be able to analyze volume, margins and profitability correctly; there is just no room for approximations", concludes Henrik Anderberg.

ABOUT SLT

Sri Lanka Telecom (www.slt.lk) is one of the country's most valuable blue chip companies with an annual turnover in excess of US$ 400 million. NTT Communications Corporation of Japan owns a 35.2% stake in Sri Lanka Telecom Limited (SLT) while 49.2% is owned by the Government of Sri Lanka and 15.3% is listed on the Colombo Stock Exchange. The Group Company has a customer base of over two million including multinational corporations, large and small corporate, retail and domestic customers. Today with NTT of Japan as a strategic partner, SLT provides facilities and services to its customers, which are unmatched in scope. These services range from domestic and international voice, advance data transmission services which include internet services on leased lines, broadband [on ADSL and dial up, data circuits, frame relay solutions to IP based services such as IP-VPN, total corporate solutions, satellite uplink services and mobile telephony through the fully owned subsidiary Mobitel. For more information, please visit www.slt.lk

ABOUT MillenniumIT

Millennium Information Technologies is a cutting-edge software developer and marketer specialising in the capital markets and telecommunications industries. The Company's automated trading system, Millennium Exchange(TM), currently powers several stock exchanges and depositories in the United States, Europe, Africa and the Asia-Pacific region.

In Sri Lanka, MillenniumIT is also a trusted IT architecture, service and consulting provider creating innovative, scalable solutions for business and industry in association with our technology partners. For more information please visit www.millenniumit.com.

ABOUT ASCADE AB

Ascade is the global market-leader of Interconnect Solutions for carriers and telecom operators. Our software, Carrier Cockpit(TM) Suite, enables carriers worldwide to increase profitability and revenue growth. It optimizes and automates all aspects of a carrier's wholesale and bilateral business including integrated interconnect billing, while providing management with real-time business planning and steering capabilities.

Carrier Cockpit(TM) Suite, developed together with leading international wholesale carriers and incumbents, is the most advanced, mature and widely used Interconnect Solution for managing the wholesale carrier business worldwide. Customers include Reach, Telenor Global Services, SingTel, Telekom Malaysia, Etisalat, Allstream, Elisa, Gateway, TEO, Rosstelecom, PT Telekom, Korea Telecom, Hrvatski Telekom, Telekom Serbia, Lattelecom, Bell Canada, Sunrise, Telekom Austria, MobileOne and more.

Ascade AB is a privately held company owned by founders and leading Nordic investment firms CapMan, listed on the Helsinki Stock Exchange, and SEB Venture Capital, the venture capital division of Nordic financial services group SEB, listed on the Stockholm Stock Exchange. Through its presence in Sweden, US, Dubai, and Singapore, Ascade provides support to its customers worldwide.

For more information please visit: www.ascade.com

Source: Ascade AB

Contact: Henrik Anderberg, Ascade AB, Soder Malarstrand 29, P.O. Box 38176, SE-100 64 Stockholm, Sweden, Tel: +46-8-616-73-00, Fax: +46-8-545-90-427, Email: henrik.anderberg@ascade.com

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