Formula Telecom Solutions, Ltd. (LSE: FTS), a leading global provider of Billing and CRM solutions for service and content providers and the telecom industry, today announced that it ranked 54th on the 2005 Deloitte Technology Fast 500 EMEA, a ranking of the 500 fastest growing technology companies in Europe, Middle East and Africa. Ranking are based on percentage revenue growth over five years, from 2000-2004. FTS grew 1373 percent during this period.

“This recognition by Deloitte clearly demonstrates the growing market acceptance of FTS’ solutions. Furthermore, in the last quarter of 2005, FTS signed new deals amounting to about US$15m,” said Yair Sakov, FTS’ Vice President of Marketing and Business Development. “FTS is capitalizing on service and content providers’ moves to next generation products, while providing traditional operators with state-of-the-art solutions that address their current needs with a clear roadmap for the future.”

“Because Deloitte Technology Fast 500 EMEA measures sustained revenue growth over five years, being one of the 500 fastest growing technology companies in EMEA is an impressive achievement,” said Eric Morgain, partner in charge of Deloitte’s Technology Fast 500 EMEA program. “Formula Telecom Solutions deserves a lot of credit for its remarkable growth.”

In addition to ranking on Deloitte’s Fast 500, FTS ranked 7th on the Israel Technology Fast 50 (http://www.fast50.co.il/), which is a ranking of the 50 fastest growing technology firms in Israel. The prestigious Israel Technology Fast 50 focuses on success stories among emerging Israeli companies, with FTS continuing to be one of Israel’s strongest and more successful.