SOURCE: MIND CTI Ltd.

April 15, 2008 16:00 ET

MIND CTI Updates on Company Held Auction Rate Securities

YOQNEAM, ISRAEL--(Marketwire - April 15, 2008) - MIND C.T.I. LTD. (NASDAQ: MNDO), a leading provider of convergent end-to-end billing and customer care product based solutions for tier 2 and tier 3 carriers worldwide, today announced an update on its auction rate securities rating.

We were advised that the Mantoloking CDO #564616AB6 has been downgraded to BBB by S&P. The security is still rated A3 and on CreditWatch with negative implications by Moody's.

The investment grade rating BBB by S&P estimates adequate capacity to meet financial commitments. Adverse economic conditions are more likely to lead to a weakened capacity of the issuer to meet its financial commitments.

About MIND

MIND CTI Ltd. is a leading provider of convergent prepaid and postpaid end-to-end billing and customer care solutions for Wireless, Wireline, VoIP and Quad-play carriers worldwide. A global company, with over ten years of experience in providing solutions to carriers, MIND operates from offices in Europe, Israel and the United States, serving customers in more than 40 countries around the world. For more information, visit MIND at: www.mindcti.com.

Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information.

Contact Information

  • For more information please contact:
    Andrea Dray
    MIND CTI Ltd.
    Tel: +972-4-993-6666
    Email Contact