Trading Update: Redknee Preliminary Revenue Exceeds Full Year Guidance



    
                 Redknee receives multi-million dollar order
    

    
                                   Redknee
                         ("Redknee" or "the Company")
    
    TORONTO, Oct. 21 /PRNewswire/ Redknee (AIM: RKN), a leading provider of
mission-critical software and solutions for communications service providers,
today announces a trading update for its financial year ended September 30,
2008 and announces the receipt of a multi-million dollar order.
    
    Trading update
    
    Redknee is pleased to announce that its preliminary unaudited estimate of
fiscal 2008 revenue is between CAN $49 million and CAN $50.5 million. This
trading update acknowledges an increase from its previous guidance of CAN $45
million to CAN $48 million that was issued in the interim report for the six
months to March 31, 2008. Revenue exceeded expectations based on greater than
expected revenue growth for the fourth quarter of fiscal 2008.  Redknee
anticipates that it will release its final results during the week of December
1st, 2008.
    The above estimates constitute forward-looking information. See "Caution
Regarding Forward-Looking Information" below.
    
    Receipt of multi-million dollar order
    
    Redknee is pleased to announce that it has received a purchase order for
approximately CAN $5 million from a Tier 1 North American carrier. Redknee
anticipates that the bulk of the revenue from this purchase order will be
recognized during fiscal 2009.
    
    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 lifetime 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 60 network operators in
over 50 countries. Established in 1999, Redknee (AIM: 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 http://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 relate to
Redknee's preliminary unaudited estimate of revenue for fiscal 2008 and to
revenue expected to be realized in fiscal 2009 from a purchase order.  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: the estimated revenue for the fiscal year ended September 30, 2008
being preliminary and remaining subject to ongoing review by Redknee and its
auditors and to final approval by Redknee's Audit Committee and Board of
Directors; the demand for the Company's products; the potential for growth in
the markets served by Redknee; the Company's position in the market and future
opportunities therein; fluctuations in Redknee's revenues from quarter to
quarter and year to year depending upon sales cycles; customer demand and the
timing of customer purchase decisions; intense competition in the markets in
which Redknee competes; 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, 2007.  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:

For further information: Media, Ashleigh Young, Mi liberty, +44 (0)20
7751 4444, ayoung@miliberty.com, for Redknee; or Mark Yaphe of Redknee, Vice
President, Product Management & Marketing, +1-905-625-2298,
mark.yaphe@redknee.com; or Nomad, Ryan Gaffney or Andrew Chubb, +44 (0) 207
050 6500, both of Canaccord Adams Limited, for Redknee; or Financial Public
Relations, Jeremy Garcia of Buchanan Communications, +44 (0) 20 7 466 5000,
jeremyg@buchanan.uk.com, for Redknee; or Colley Clarke of Redknee Solutions,
Chief Financial Officer, +1-905-625-2604, colley.clarke@redknee.com Web Site:
http://www.redknee.com


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