Redknee Secures Multi-Million Dollar License Expansion With Tier-1 EMEA Operator

TORONTO -

- Redknee’s Next Generation Rating & Charging Solution Enables Aggressive Data Growth at a Leading Tier-1 Operator

Redknee (TSX: RKN), a leading global provider of business-critical software and solutions for communications service providers, announced today that a leading Tier-1 operator in the EMEA region (Europe, Middle East & Africa) has signed a multi-million dollar license expansion agreement for Redknee’s Next Generation Rating and Charging (NGRC) solution. This solution provides advanced rating and charging capabilities which facilitates the increased adoption and consumption of the operator’s quickly growing data services. It is anticipated that the majority of the revenue from this contract win will be recognized in fiscal 2009. This operator has recently experienced significant growth in data traffic, and by expanding its license with Redknee, is now primed to drive demand and support the rating and charging of high-value data services such as mobile TV, mobile broadband, and the increased use of data-intensive smartphones. The solution allows the operator to support tiered pricing packages based on individual bandwidth requirements, as well as “pay-as-you-go” data use, expanding the number of services available and bringing much needed clarity to data charging for its subscribers. “We are proud to announce this software license expansion with one of Redknee’s leading Tier-1 operator customers, and feel honoured that they continue to look to Redknee to help drive their revenue growth and leadership in the market. We have been able to help them achieve this success by enabling them to launch all the latest data services - with pricing plans that customers can understand,” said Lucas Skoczkowski, CEO at Redknee. “This further validates Redknee’s monetization product platform and demonstrates our continued ability to gain market share in real-time monetization for both Tier-1 and high growth market operators.”

About Redknee’s NGRC

Redknee’s Next Generation Rating & Charging solution is a proven real-time rating, charging, policy management and privacy solution for data services. It offers communications service providers the flexibility and scalability to launch new services, while creating new revenue streams based on diverse pricing options for both prepaid and postpaid subscribers. It helps operators to minimize the impact of decreasing voice revenue by allowing them to capitalize on the explosive growth in new data services and provides network operators the competitive advantage to rate and charge any data event in real-time. Additionally, NGRC’s policy controls determine and enforce the appropriate quality of service (QoS), assuring subscribers receive high-quality service across any device. For more information about Redknee, visit www.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 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 70 network operators in over 50 countries. Established in 1999, Redknee Solutions Inc. (TSX: RKN) 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 www.redknee.com.

Caution Regarding Forward-Looking Information:

This release contains forward-looking information within the meaning of applicable securities laws (”forward-looking statements”) that include Redknee’s preliminary unaudited estimate of revenue expected to be realized in fiscal 2009 from an order and product performance. Such forward-looking statements are not promises or guarantees and involve known and unknown risks, uncertainties and other factors and assumptions that may cause the actual results, performance or achievements of Redknee, or developments in Redknee’s business or industry, to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to: deployment scheduling, product performance, technological change and changes in the industry in which Redknee competes; changing global economic conditions and uncertainties; the impact of foreign currency exchange rates; credit and collection risk; departure of key personnel; departures of key customers; and other risks detailed from time to time in the Company’s filings with the Ontario Securities Commission including Redknee’s Annual Information Form dated for the fiscal year ended September 30, 2008 and filed on www.sedar.com. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Redknee does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

For further information: Media Relations Contact: Ashleigh Young, Mi liberty, +44(0)20-7751-4444, ayoung@miliberty.com; Mark Yaphe, Vice President, Product Management & Marketing, +1-905-625-2298, mark.yaphe@redknee.com; Redknee Solutions: David Charron, Chief Financial Officer, +1-905-625-2943, david.charron@redknee.com; Investor Relations: Isabel Fernandes-Cunha, +1-905-625-2421, isabel.fernandes@redknee.com or investor_relations@redknee.com

Source: Redknee Solutions Inc.

For further information: Media Relations Contact: Ashleigh Young, Mi liberty, +44(0)20-7751-4444, ayoung at miliberty.com; Mark Yaphe, Vice President, Product Management & Marketing, +1-905-625-2298, mark.yaphe at redknee.com; Redknee Solutions: David Charron, Chief Financial Officer, +1-905-625-2943, david.charron at redknee.com; Investor Relations:
Isabel Fernandes-Cunha, +1-905-625-2421, isabel.fernandes at redknee.com or
investor_relations at redknee.com