Evolving Systems Named Colorado's Fastest Growing Public Company

ENGLEWOOD, CO--(Marketwire - October 14, 2010) -  Evolving Systems, Inc. (NASDAQ: EVOL), a leading provider of software solutions and services to the wireless, wireline and cable markets, has been featured by the Denver Business Journal (DBJ) as Colorado's #1 fastest growing public company in terms of profitability.

The Denver Business Journal article featuring Evolving Systems cited the Company's over 700% net income growth -- from $600,000 to $4.8 million -- between 2007 and 2009. The article referenced Evolving Systems' new product offering in the growing, worldwide connected-devices market and other strategic initiatives as drivers in the Company's bottom-line success. The article is available at the following link:
http://denver.bizjournals.com/denver/stories/2010/10/11/focus1.html?surround=etf&ana=e_article&b=1286769600^4060851

Thad Dupper, chairman and CEO of Evolving Systems, said, "We are pleased to rank at the top of the DBJ's list of Colorado's fastest growing public companies, particularly when you consider the other companies on the list included Liberty Media, Chipotle and IHS to name a few. I would like to thank all of our employees -- it is their hard work and dedication that made this number one ranking a reality. In recent years we have strengthened our balance sheet, invested heavily in new product development and expanded into the emerging markets. These initiatives have translated to a significantly improved bottom line. We're happy to say we have extended our profitability into 2010 and look forward to continued success."

About Evolving Systems®
Evolving Systems, Inc. (NASDAQ: EVOL) is a provider of software and services to more than 70 network operators in over 40 countries worldwide. Its portfolio includes market-leading products for Service Activation, Service Verification, Dynamic SIM Allocation, Number Portability, Number Inventory and Mediation solutions. Founded in 1985, the Company has headquarters in Englewood, Colorado, with offices in the United Kingdom, Germany, 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 United States' Private Securities Litigation Reform Act of 1995, based on current expectations, estimates and projections that are subject to risk. Specifically, Evolving Systems' statements about its success, growth, profitability, customer base and market expansion, product development, innovation and the ability of Evolving Systems' solutions to handle future needs in the connected devices market are forward-looking statements. Readers should not place undue reliance on these forward-looking statements, and Evolving Systems may not undertake to update these forward-looking statements. Actual results could differ materially because of many factors, such as internal budgeting changes of customers, the impact of competition and the general state of the telecommunications industry. For a more extensive discussion of Evolving Systems' business, please refer to the Company's Form 10-K filed with the U.S. SEC on March 8, 2010, as well as subsequently filed Forms 10-Q, 8-K and press releases and the Company's website at www.evolving.com.

Contact Information:

Investor Relations
Jay Pfeiffer
Pfeiffer High Investor Relations, Inc.
+1 303 393 7044