724 Solutions Inc.

724 Solutions Inc.

October 31, 2005 08:01 ET

Telcordia Selects 724 Solutions' Mobile Virtual Network Operator (MVNO) WAP Gateway, Alerting Platform

SANTA BARBARA, Calif.--(CCNMatthews - Oct 31, 2005) -

724 Solutions (Nasdaq:SVNX) (TSX:SVN), a leading provider of next-generation IP-based network and data services, today announced that Telcordia Technologies Inc., a global provider of telecommunications software and services, selected 724's Mobile Virtual Network Operator (MVNO) Data Bundle to offer high-quality, differentiated, mobile data services as part of their Hosted Solution for MVNOs. The signing of this agreement was previously disclosed on July 5, 2005.

Telcordia has licensed and is deploying 724's MVNO Data Bundle's Intermediation Proxy, providing WAP 2.0 gateway functionality, and the Content and VASP (Value Added Services Provider) Management solution. 724's MVNO Data Bundle allows for the management and control of traffic flow, access lists and routing for subscribers' data services, and makes it easy for each MVNO's subscribers to easily find, access and pay for premium content. The deal includes the acquisition of initial capacity and implementation services, and the opportunity to grow this over time, based upon adoption.

"Premium data services are a strategic element of differentiation and revenue streams that our MVNO customers require to capture and serve their defined target markets," said Doug Patterson, General Manager, Hosted Solutions, Telcordia. "The addition of the 724's XMG WAP gateway and XAP alerting platform into our offering, will help simplify and expedite the entry of MVNOs in the wireless market with the flexibility to offer innovative and premium data services as the market evolves."

"We are very pleased to be working with Telcordia to complement their leading hosted solution with a premium content data solution designed to give MVNOs a comprehensive platform to offer their differentiated services," said John Sims, Chief Executive Officer of 724 Solutions. "The MVNO marketplace is an important aspect of our Unwired Lifestyle™ vision and represents a growth market that will evolve to include a variety of targeted offerings from service providers bundling wireless with existing communications services such as cable, wireline, TV and Wi-Fi services."

724's MVNO Data Bundle and the X-treme Mobility Suite (XMS) are currently used by operators worldwide to provide MVNO services. Built on 724's X-treme Framework, which provides a modular and extensible platform, the MVNO Data Bundle meets today's service requirements and extends to meet the challenges of tomorrow's networks.

For more information, visit www.724.com.

About 724 Solutions

724 Solutions (Nasdaq:SVNX) (TSX:SVN) delivers reliable, scalable technology and solutions that allow mobile network operators to rapidly deploy flexible and open next generation IP-based network and data services. Additionally, in conjunction with mobile operator partners, the company provides a series of actionable alerting solutions to enterprises to assist them in lowering operating costs and improving customer relationship management. 724 Solutions is a global company with development operations in Canada and Switzerland with its corporate office in Santa Barbara, Calif. For more information, visit www.724.com.

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements include the statements herein regarding: the services and products that will be offered by 724 Solutions, the benefits that businesses will obtain from these services and products, and the revenues that we will generate from these products. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including the risk that 724 Solutions will be unable to deploy the solutions and products stated herein and other risks described in 724 Solutions' Securities and Exchange Commission filings, including its annual report on Form 10-K and its quarterly reports on Form 10-Q. These risks are also described in 724 Solutions' filings with the Canadian Securities Administrators. 724 Solutions does not undertake any obligation to update this forward-looking information, except as required under applicable law.

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