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To: IngotWeTrust who wrote (16)	5/12/1998 5:31:00 PM
From: Claude Edelson	Respond to of 84

Cincinnati Bell First to Market in U.S. With Internet Call Manager; Internet Users Can Surf Without Missing a Call Business Wire - May 12, 1998 09:36 %CINCINNATI-BELL CSN %OHIO %WISCONSIN %ILLINOIS %NEBRASKA %KENTUCKY %INDIANA %COMPUTERS %ELECTRONICS %COMED %TELECOMMUNICATIONS %INTERACTIVE %MULTIMEDIA %INTERNET %PRODUCT V%BW P%BW ------------------------------------------------------------------------ NOTE TO MEDIA: Photo is available in a Smart News Release(TM) on Business Wire's Home Page at www.businesswire.com CINCINNATI--(BUSINESS WIRE)--May 12, 1998--Cincinnati Bell Telephone (CBT) today became the first U.S. telecommunications company to offer Internet Call Manager, a new service that helps people manage incoming telephone calls even though they are already logged on the Internet through the same phone line. The new technology was developed by InfoInterActive, a Halifax, N.S.-based company. The launch of the new service, which requires no special equipment and is delivered with free software, follows successful market trials and technical evaluation by CBT. "Cincinnati Bell's leading-edge solutions, such as Internet Call Manager, help our customers manage their communications needs," said Mike O'Brien, senior vice president of sales, marketing and customer service for Cincinnati Bell Telephone. "This is an innovative service that should become as popular with Internet users as conventional phone features such as Call Waiting." Between 75 and 80 percent of all calls placed to someone using the Internet will result in a busy signal. Internet Call Manager works with nearly all Internet Service Providers and automatically monitors calls when users log on to the Internet. "Internet Call Manager was designed to meet the needs of active families as well as home office and small business users. It gives them the comfort of knowing they can choose who they want to talk to and when, and never miss an important call because they were online," said Michael Smith, executive vice president of InfoInteractive. About Internet Call Manager When a user is online and receives an incoming phone call, a message will instantly appear on their personal computer screen notifying the user of the caller's name and phone number. Internet Call Manager enables users to choose from one of the following options: -- Answer -- The caller hears a brief message indicating that the person is aware of their call and will take it momentarily. Internet Call Manager automatically disconnects the user from the Internet so that they can take the call. -- Notify -- The caller hears a special message letting him or her know that the user is on the Internet and will return the call. -- Transfer -- The user can transfer the call to one of our destinations such as a wireless phone or second phone line. All calls received are automatically logged to a file, including the caller's name and number as well as the disposition of the call. The list of callers is stored on the user's hard drive, permitting a handy reference of numbers. Internet Call Manager is $7.00 per month for residences and $8.00 for businesses with a $6.50 activation fee. Customers can order services through the Internet at www.cinbelltel.com/icm, or by calling (513) 565-3038. InfoInterActive launched Internet Call Manager in Canada in 1997. The product was recognized as "Best of Show" at Comdex/Canada 1997. "Our collaboration with Cincinnati Bell puts the U.S. launch of Internet Call Manager in the hands of a powerful leader in communications," said Smith. Cincinnati Bell Telephone, which has served the Greater Cincinnati area since 1873, provides telecommunications services as well as advanced voice, video, data, information and entertainment services to business and residential customers in a three-state area, including portions of Southwestern Ohio, Northern Kentucky and Southeastern Indiana. The company has more than one million access lines and employs more than 2,700 Greater Cincinnati residents. The company's address on the World Wide Web is www.cinbelltel.com. CONTACT: Cincinnati Bell Telephone Erik Kirkhorn, 513/397-1237 ekirkhorn@cinbell.com Libby Korosec, 513/397-1589 ekorosec@cinbell.com

To: IngotWeTrust who wrote (16)	5/12/1998 5:49:00 PM
From: Claude Edelson	Read Replies (1) \| Respond to of 84

note ref to cbis Wiztec Solutions Reports Record Revenues and Earnings for First Quarter of 1998 HERZLIA, Israel--(BUSINESS WIRE)--May 12, 1998--Wiztec Solutions Ltd. (NASDAQ: WIZTF), a leading provider of Subscriber Management Systems (SMS) for multi-channel subscription television, reported record revenues of $3.51 million for the first quarter of 1998, compared to $2.97M in the first quarter of 1997, an increase of 18%. The gross profit in the first quarter of 1998 increased 26% to $1.79 million from $1.42 million in the first quarter of 1997 and operating income increased 28% to $690,835 from $537,855. The net profit for the quarter was a record $681,024 or $0.10 per share, up 18% from $577,028 or $0.09 per share in the same quarter last year. "We are pleased to report record revenues and earnings for this quarter, reflecting strong performance from both new projects and existing customers," commented Yaron Polak, President and CEO of Wiztec Solutions. "This is a direct result of our strong position as a leading SMS vendor in the international Direct Broadcast Satellite (DBS) and digital cable TV markets. In this quarter, we significantly increased our presence in the United States through our alliance with CBIS. This alliance has already proven successful with the win of a major WIZARD service bureau agreement for Bell Atlantic's offering of DBS services, as announced by CBIS last month." In the first quarter of 1998, Wiztec Solutions also announced the signing of a major contract for the client/server version of WIZARD with @Entertainment, Inc. The client/server version was installed at the customer site in Poland on schedule and accepted by @Entertainment for its launch of digital satellite Direct-To-Home (DTH) television services. In addition, @Entertainment will use WIZARD to support its current base of more than 780,000 existing cable subscribers in Poland. Wiztec Solutions has also installed the client/server version of WIZARD at Tevel Communications in Israel. As part of the joint R&D initiative for a common next generation billing product, that is based on the client/server version of WIZARD, CBIS funds 50% of Wiztec's R&D effort. This allows Wiztec Solutions to continue to expand its R&D activities at a rapid pace. CBIS also contributes telephony and large systems know-how to ensure that the WIZARD product line will continue to evolve as the leading product for the cable, satellite, broadband and convergence communications markets. Adds Mr. Polak, "Our proven track record in the most advanced cable TV and DTH satellite installations around the world, along with our alliance with CBIS, places Wiztec Solutions in an excellent position to win very large domestic U.S. digital Pay TV projects, especially in the dynamic DBS market. Together with CBIS, Wiztec Solutions is now in an excellent position to replicate its leading international position in the North American market." Wiztec Solutions Ltd., develops, markets and supports computer software which provides multi-channel subscription television system operators with one of the most comprehensive and advanced subscriber management systems available. The Company's software is marketed under the WIZARD (R) trade name and incorporates subscriber management functions such as billing, collection, customer service, work order processing, equipment inventory control and customer analysis for target marketing. Wiztec's subscriber management systems are installed in eight languages in close to one hundred cable, wireless and satellite TV operations worldwide, including large operators, such as Telecom Australia and Deutsche Telekom. Wiztec Solutions is publicly traded (Nasdaq: WIZTF) and is part of the Formula Group (Nasdaq: FORTY), which is the largest public IT group in Israel. Cincinnati Bell (NYSE: CSN) through its wholly owned subsidiary CBIS owns almost 20 percent of Wiztec Solutions. Wiztec Solutions' web address is wiztecsolutions.com. This press release contains certain statements related to possible results and trends in 1998 and beyond which are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results and trends could differ materially from those projected in the forward-looking statements, which involve a number of risks and uncertainties and should be considered in conjunction with the cautionary statements contained in the periodic filings with the Securities and Exchange Commission. WIZTEC SOLUTIONS LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS March 31 December 31 1998 1997 ASSETS CURRENT ASSETS: Cash $ 10,405,393 $ 10,014,705 Accounts receivable: Trade 3,871,862 3,919,050 Other 545,101 415,308 Inventory 41,674 30,526 ------- ------ Total current assets 14,864,030 14,379,589 ----------- ---------- NON-CURRENT TRADE 516,823 808,611 -------- ------- FIXED ASSETS: Cost 3,017,569 2,712,888 Less - accumulated depreciation 1,208,492 924,190 ---------- ------- 1,809,077 1,788,698 ---------- --------- SOFTWARE DEVELOPMENT: Original amount 3,791,440 3,377,185 Less - accumulated amortization 906,542 870,493 -------- ------- 2,884,898 2,506,692 ---------- --------- GOODWILL: Original amount 1,393,735 1,393,735 Less - accumulated amortization 241,368 206,525 -------- ------- 1,152,367 1,187,210 ---------- --------- Total assets $21,227,195 $20,670,800 =========== =========== LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accruals: Trade $ 345,061 $ 657,266 Other 1,125,449 1,142,570 Advances from customers 477,262 255,412 -------- ------- Total current liabilities 1,947,772 2,055,248 ---------- --------- LONG TERM LIABILITIES: Advances from customers 237,500 262,500 Accrued severance pay, net 75,243 67,395 ------- ------ Total long term liabilities 312,743 329,895 -------- ------- SHAREHOLDER'S EQUITY: Share capital 2,088,076 2,088,076 Stock options 324,716 324,716 Share premium and capital surplus 13,355,961 13,355,961 Retained earnings 3,197,927 2,516,904 ---------- --------- Total shareholders' equity 18,966,680 18,285,657 ---------- ---------- Total liabilities and equity $21,227,195 $20,670,800 =========== =========== WIZTEC SOLUTIONS LTD. AND SUBSIDIARIES CONSOLIDATED SUMMARY OF RESULTS Three months ended Year ended March 31 December 31 (Unaudited) 1998 1997 1997 REVENUES $3,509,863 $2,965,607 $11,974,705 COST OF REVENUES 1,722,135 1,541,620 5,992,240 --------- --------- --------- GROSS PROFIT 1,787,728 1,423,987 5,982,465 --------- --------- --------- SOFTWARE DEVELOPMENT COSTS: Expenses incurred 433,157 354,742 1,599,533 Less - amounts capitalized 414,255 284,728 1,365,088 ------- ------- --------- NET SOFTWARE DEVELOPMENT COSTS 18,902 70,014 234,445 ------ ------ ------- SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 1,077,992 816,118 3,651,830 --------- ------- --------- OPERATING INCOME 690,835 537,855 2,096,190 FINANCIAL INCOME, net 87,306 71,205 328,223 CAPITAL LOSS ON FIXED ASSETS 2,202 0 6,091 ----- -- ----- INCOME BEFORE TAXES 775,939 609,060 2,418,322 TAXES ON INCOME 94,915 32,032 288,575 ------ ------ ------- NET INCOME $681,024 $577,028 $2,129,747 ======== ======== ========== EARNINGS PER SHARE: Basic $ 0.103 $ 0.095 $ 0.344 ======== ======== ========== Diluted $ 0.098 $ 0.094 $ 0.338 ======== ======== ========== WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING Basic 6,600,000 6,070,000 6,193,764 Diluted 6,923,969 6,130,906 6,295,152 CONTACT: Wiztec Solutions Ltd. Yaron Polak, +972 9 952 6555 or Mike Laor, +972 9 952 6555 or For Wiztec Solutions Ltd. Dennis S. Dobson, 203/255-7902