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Amdocs Selects HandySoft's SOXA Accelerator for Sarbanes-Oxley Compliance

Amdocs joins growing number of international companies looking to meet SOX deadlines.

Billing and CRM software provider Amdocs Ltd. said today that it has selected HandySoft Global Corp.'s SOXA Accelerator for Sarbanes-Oxley reporting compliance.

As a European domiciled company whose shares are traded on the New York Stock Exchange, Amdocs is required to comply with the Sarbanes-Oxley Act by the end of September 2005.

Delivered through HandySoft's partner BICONIX International, HandySoft's SOXA Accelerator will assist Amdocs in establishing the internal controls, monitoring, assessment and reporting procedures that are required by the Act. Implemented across Amdocs' global operations, HandySoft's SOXA Accelerator went live at the end of 2004.

"As an international firm with a US listing, we are subject to NYSE regulations and specifically, the 2005 Sarbanes-Oxley deadline," said Thomas O'Brien, vice president of Finance and Investor Relations for Amdocs. Technology is indispensable in implementing effective controls and procedures to become fully compliant.

"Having come to BICONIX and HandySoft for a Sarbanes-Oxley solution, Amdocs represents an important implementation for us, because even as a software company, they have recognized the value of the specialist knowledge," said Stuart Claggett, chief operating officer of HandySoft Global

"Our research earlier this year showed that 25 percent of companies facing mandatory compliance to SOX are not expected to have implemented the required procedures and systems by the end of 2004, and at the moment this prediction certainly looks to be correct," added Wendy Cohen, EMEA sales and operations director of HandySoft. "Companies are waiting until the last minute, but as the European deadline approaches, we will see many of them following Amdocs."

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