· Total Revenue at Rs.1247.61 million

· Net Profit (before exceptional items) at Rs. 196.03 million

Quarter ended 30 September 2010 – Key Highlights:

· Consolidated Revenue at Rs. 1,247.61 mln (USD 27.01 mln), up from Rs.1,168.14 mln (USD 25.29 mln) in FY 2010 Q2

· Consolidated Net Profit (before exceptional items) at Rs. 196.03 mln (USD 4.24  mln) up from a loss of Rs. 10.1 mln in FY 2010 Q2

· Product Revenue at Rs. 1,079.74 mln (USD 23.37 mln)

Bangalore, INDIA: Subex Ltd, a leading global provider of Operations and Business Support Systems (OSS/BSS) for communications service providers, announced today that it has recorded consolidated revenue of Rs. 1,247.61 mln  (USD 27.01 mln), and consolidated net profit, before exceptional items, of Rs. 196.03 mln (USD 4.24 mln) for the quarter ended 30 September 2010. Product revenue stood at Rs. 1,079.74 mln (USD 23.37 mln).

While the top line grew 7% year-on-year, the bottom line (excluding Exceptional Items) moved from a loss of Rs. 32 mln in the year ago quarter to a profit of Rs. 307 mln in the current quarter. This non linear growth in profit is a result of strong performance of the product business of the company, which contributed 86.5% of the total revenue.  This is evident from the fact that while product revenue grew 11.5% year-on-year, product EBITDA grew by 100.5%.

Thus, the company posted an impressive product EBITDA of Rs.345 mln i.e. 32% as against Rs. 172 mln i.e. 18%, in the corresponding quarter of FY 2010. Consolidated EBITDA for the period stood at 27.6 percent, up from 16.5 percent in Q2 of FY 2010.

Commenting on the business, Subash Menon, Founder Chairman, Managing Director and CEO, said, “We are experiencing increased traction in our ROC platform and Managed Services offerings. Our focused approach is giving the desired results as evident from the growth in revenue and strong EBITDA margin. We are confident of meeting our financial objectives”

About Subex Limited

Subex Limited is a leading global provider of Operations and Business Support Systems (OSS/BSS) that empowers communications service providers (CSPs) to achieve competitive advantage through Business Optimization and Service Agility – thereby enabling them to better operational efficiency to deliver enhanced service experiences to subscribers.

The company pioneered the concept of a Revenue Operations Center (ROC™) – a centralized approach that sustains profitable growth and financial health through coordinated operational control. Subex’s product portfolio powers the ROC and its best-in-class solutions enable new service creation, operational transformation, subscriber-centric fulfillment, provisioning automation, revenue assurance, cost management, data integrity management, fraud management and interconnect / inter-party settlement.

Subex’s customers include 36 of the world’s 72 biggest* telecommunications service providers. The company has more than 300 installations across 70 countries.

For more information please visit www.subexworld.com

Further information please contact:

Vivek Padiyar at Perfect Relations

Tel: + 91 9892306446

vpadiyar@perfectrelations.com

Jessica Suranyi-Hammond at Milner Company Marketing LLP

Tel: +44 (0) 1473 636710

Mob: +44 (0) 7541 989515

jessica.suranyi@milnerllp.com