Amdocs Limited to Acquire Leading Mediation Software Provider XACCT Technologies

Acquisition enhances Amdocs leadership position in delivering true, integrated customer management, seamlessly linking the network and applications to the customer

ST. LOUIS, MISSOURI - December 22, 2003 - Amdocs Limited (NYSE: DOX), the world’s leading provider of billing and CRM products and services for true, integrated customer management, today announced that it has reached agreement to acquire XACCT Technologies, a privately-held provider of industry-leading mediation software to communications service providers (CSPs). Amdocs will acquire XACCT’s outstanding shares for approximately $29.5 million, subject to certain adjustments, of which approximately $13.5 million will be paid in cash and the balance in Amdocs Ordinary Shares. This acquisition further expands the scope of Amdocs billing capabilities in the network mediation space providing the unique capability for supporting end-to-end event processing for voice, data, content and commerce prepaid and postpaid transactions.

"The acquisition of XACCT will expand our current offerings and market presence in mobile, wireline, and cable segments," said Eli Gelman, Executive Vice President of Amdocs Management Limited. "We know the XACCT platform well and we are confident that it will complement our unique ability to facilitate rapid time to market of voice, data, content and commerce services, enabling CSPs to seamlessly link their networks with their customers, achieving stronger, more profitable customer relationships."

The highlights of this acquisition include:

"We are excited that Amdocs has decided to acquire XACCT," said Eric Gries, President & CEO of XACCT Technologies. "The combination of best-in-class mediation and billing and CRM products will ensure that our customers continue to sustain their competitive advantage in the market."

XACCT is a recognized industry leader in mediation software, which serves as a critical link between networks and OSS/BSS systems. Mediation involves the collection, filtering, correlation and formatting of voice, data, content or commerce usage information from the network. XACCT provides the industry-leading convergent mediation platform for telecommunications service providers such as wireline carriers, mobile operators, cable operators, and managed services providers. XACCT's carrier-class Network-to-Business Platform enables service providers to monetize their network traffic by harnessing network information to create new value-based services and lower operational costs.

Amdocs expects to incur a one-time acquisition related charge in its second quarter ending March 31, 2004 to account for certain costs relating to the acquisition, primarily the write off of purchased in process research and development. Completion of the acquisition is subject to certain customary closing conditions, including the approval of antitrust and other authorities, and shareholder approvals. The Amdocs Ordinary Shares to be issued in the acquisition will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Amdocs may use authorized and unissued or treasury shares to effect the acquisition or, if market conditions are favorable, may purchase the shares needed for the transaction in open market or privately negotiated transactions. Any share repurchases by Amdocs would be in addition to the five million share buyback program previously authorized by its board of directors.

About Amdocs

Amdocs combines innovative software products and services with deep business knowledge to deliver true, integrated customer management to the world’s leading services companies. Our best-in-class billing and CRM products seamlessly link all customer-facing business processes - marketing, sales, ordering, delivery, fulfillment, billing, settlement, service, support, and analytics - resulting in stronger, more profitable customer relationships. Amdocs enables its customers to implement their business strategy with rapid return on investment, lower total cost of ownership and improved operational efficiencies. For more information, visit Amdocs at www.amdocs.com.

Media Contact:

Amdocs Runi Krishnamurty

Access Communications for Amdocs

Tel.: 1-917-522-3507 Fax: 1-917-522-3510 Email: runi@accesspr.com