Shareholders of Argent Networks Do Not Approve Acquisition

Redknee (AIM: RKN), a leading provider of innovative infrastructure software that monetizes and personalizes services and content for mobile operators, announces that the shareholders of Argent Networks Ltd. did not approve the acquisition of the assets of the company by Redknee Solutions Inc., which was a necessary condition to close the transaction.

While Redknee does not intend to make an improved offer for Argent, management is assessing whether there are other alternatives for purchasing certain assets of the Company.

Based on the foregoing, Redknee re-iterates its December 4, 2007 guidance that fiscal 2008 revenues will be between $45 million and $48 million.

Lucas Skoczkowski, CEO at Redknee, commented:

“Whilst we are disappointed not to have received shareholder approval, we will continue an open dialogue with Argent’s management in the hope of reaching an agreement.

“Argent is one of a number of acquisition possibilities being considered by management and we remain committed to capitalising on suitable opportunities.”


For further details please contact:

North American Media Relations Contacts:
Heidi Rosenberg
NPI PR
+1 831-440-2405
heidi@npipr.com

Dalia Asterbadi
Redknee Solutions
+1 905 625 2636
dalia.asterbadi@redknee.com

Financial Public Relations:
Jeremy Garcia
Buchanan Communications
+44 (0) 20 7 466 5000
jeremyg@buchanan.uk.com

Nomad:
Canaccord Adams Limited
Ryan Gaffney/Andrew Chubb
+44 (0) 207 050 6500

Redknee Solutions
Colley Clarke, Chief Financial Officer
+1 905 625 2604
colley.clarke@redknee.com

About Redknee:
Redknee is a leading global provider of innovative communication software products, solutions and services. Redknee's award-winning solutions enable operators to monetize the lifetime value of each subscriber transaction while personalizing the subscriber experience to meet mainstream, niche and individual market segment requirements. Redknee's revenue generating solutions provide advanced converged billing, rating, charging and policy for voice, messaging and new generation data services to over 60 network operators in over 50 countries. Established in 1999, Redknee Solutions Inc.(RKN : AIM) is the parent of the wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries. References to Redknee refer to the combined operations of those entities. For more information, visit http://www.redknee.com/.