6 November 2006 – Red Bend Software, a major player in mobile software management and firmware over-the-air (FOTA) updating solutions for mobile phones, today took 7th place in the Deloitte Brightman Almagor 2006 Technology Fast 50 competition. The competition was held in cooperation with leading business newspaper TheMarker.

The Deloitte Technology Fast 50 is among the top ranking recognition programs in the world for technology companies. This is the seventh year that the competition has been held in Israel. The Deloitte Technology Fast 50 is a program that recognizes and profiles the 50 fastest growing technology companies, public or private, based on percentage revenue growth over five years. The program recognizes companies in: Communications; Software; Semiconductors, Components and Electronics; Life Sciences; Internet; and Computer Peripherals.

Red Bend’s vCurrent® Mobile client software is now licensed on more than 40 handset models used by more than 45 million consumers worldwide.

Red Bend’s CEO Yoram Salinger attributed the company’s significant revenue growth to several factors. “It starts with a foundation of innovative technology and world-class engineering, and then developing superior products that solve real market needs,” said Salinger. “We’re proud that the world’s leading mobile handset manufacturers trust Red Bend to keep consumers happy with their phones by quickly and efficiently repairing software defects over-the-air.

“Next, we’re working to help them and mobile operators address the growing consumer demand for new mobile features, applications and services,” Salinger continued. “With FOTA technology projected to be available in 50 percent of all mobile devices by 2008, Red Bend is well positioned to be a key enabler in the consumer personalization of mobile phones and to capture the market opportunity for mobile software management.”

Igal Brightman, Chairman & CEO of Deloitte Brightman Almagor and Global Managing Partner of the Technology, Media and Telecommunications group, said, “Red Bend is in the right place and the right industry – that’s why it’s growing at this pace. Red Bend has experienced growth of over 2000%, which is why it made seventh place in the Fast 50. In a survey we conducted among 1500 high growth companies around the world, wireless was named the sub-sector most likely to develop globally, and Red Bend has an important position in this industry.”

About Red Bend Software
Red Bend Software helps mobile phone manufacturers and network operators to accelerate the adoption of new services and features, respond rapidly to customer needs, and reduce support costs through mobile software management solutions. LG Electronics, BenQ Mobile, NEC, Sharp, Sony Ericsson, and other large handset manufacturers use Red Bend’s firmware over-the-air (FOTA) mobile client software to quickly and reliably deliver compact firmware updates to more than 45 million mobile phones already in the hands of consumers. Founded in 1999, Red Bend Software is a privately held, venture capital-financed company with offices in China, Israel, Japan, Korea, the U.K and the U.S. More information about Red Bend Software is available at www.redbend.com.