Evolving Systems Declares Special Dividend of $0.15 per Share

ENGLEWOOD, CO--(Marketwire - Dec 7, 2012) - Evolving Systems, Inc. (NASDAQ: EVOL), a leading provider of strategic solutions to telecom operators worldwide, today announced that its Board of Directors has declared a special cash dividend totaling $0.15 per share.

This one-time special dividend will be paid to stockholders of record as of the close of business on December 20, 2012, with a payment date of December 26, 2012.

Evolving Systems encourages stockholders to contact their brokers in order to understand the Nasdaq rules and regulations regarding the effect of selling shares on their eligibility to receive this dividend.

About Evolving Systems^®
Evolving Systems, Inc. (NASDAQ: EVOL) is a provider of software and services to 50 network operators in over 40 countries worldwide. The Company's product portfolio includes market-leading activation products that address subscriber service activation, SIM card activation, mobile broadband activation as well as the activation of connected devices. Founded in 1985, the Company has headquarters in Englewood, Colorado, with offices in the United Kingdom, India and Malaysia. Further information is available on the web at www.evolving.com.

CAUTIONARY STATEMENT
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Specifically, the statements in this press release concerning dividends should not be interpreted to mean that dividends will be paid in the future, and the Company makes no representations about whether we will pay dividends in the future. Readers should not place undue reliance on these forward-looking statements, and the Company may not undertake to update these statements. For a more extensive discussion of Evolving Systems' business, and important factors that could cause actual results to differ materially from those contained in the forward-looking statements, please refer to the Company's Form 10-K filed with the SEC on March 30, 2012, as well as other SEC filings, including Forms 10-Q, 10-Q/A, 8-K and press releases.