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Amdocs Completes Acquisition of Digital Commerce Leader Qpass

Deal expands Amdocs solutions in digital content and commerce

St. Louis, MO - May 31, 2006 - Amdocs (NYSE: DOX), the leading provider of software and services to enable integrated customer management and the intentional customer experience™, today announced that it completed the acquisition of Qpass, a leading provider of digital commerce software and solutions, for approximately $275 million in cash.

This acquisition expands the scope of Amdocs' capabilities in the digital content and commerce market, and complements the company's work with more than 150 of the world’s leading service providers, including those in the broadband cable, satellite, fixed access, and wireless industries. Many of those companies are seeking to offer digital content, including music, video and games, and conduct digital commerce. As a result, their new business models require the management of content, new relationships with content providers, a higher degree of personalization of the customer experience, and greater capabilities to fulfill consumer orders.

"Amdocs now has a broader portfolio of offerings to address the emerging needs of the marketplace, and help service providers transform themselves into providers of digital goods and services," said Eli Gelman, executive vice president of Amdocs Management Limited. "Qpass had carved out a strong market position and has relationships with more than 300 leading content providers. The combination of this business expertise and the Qpass technology platform, with Amdocs' industry-leading software and services will bring new solutions to service providers and, ultimately, new services to their customers."

Amdocs announced its agreement to acquire Qpass' shares of capital stock on April 18, 2006. The transaction is expected to be $0.01 to $0.02 dilutive to earnings per share excluding acquisition-related items in fiscal 2006, and is expected to become accretive to earnings per share excluding acquisition related items during fiscal 2007. Amdocs may incur a one-time acquisition-related charge in its third fiscal quarter ending June 30, 2006, to account for certain costs related to the acquisition.

About Amdocs
Amdocs combines innovative software and services with deep business knowledge to accelerate implementation of integrated customer management by the world’s leading service providers. By delivering a comprehensive portfolio of software and services that spans the customer lifecycle, Amdocs enables service companies to deliver an intentional customer experience TM, which results in stronger, more profitable customer relationships. Service providers also benefit from a rapid return on investment, lower total cost of ownership and improved operational efficiencies. A global company with revenue of more than $2 billion in fiscal 2005, Amdocs has 13,000 employees and serves customers in more than 50 countries around the world. For more information, visit Amdocs at www.amdocs.com.