FTS - Formula Telecom Solutions

PAETEC to Migrate Billing Platforms to FTS' Leap RevChain 7.0

FAIRPORT, N.Y. - August 26, 2008 - PAETEC Holding Corp. (NASDAQ GS: PAET) today announced that it will migrate its billing platforms to the latest version of LeapTM RevChain from FTS (LSE: FTS). The platform consolidation and upgrade will build on the existing long-term relationship between the two companies.

PAETEC is a leading national communications carrier that provides voice and data solutions to business-class customers. FTS is a global provider of billing, customer relationship management (CRM) and Business Control Solutions for communications, content and service providers.

'PAETEC has leveraged FTS' billing-platform expertise for more than a decade, and the flexibility of their solutions is very much aligned with PAETEC's business model,' said Robert D. Moore, PAETEC's Senior Vice President and Chief Information Officer. 'The enhanced capabilities we will gain through this migration will help us continue to address our customers' needs in the most effective and efficient manner possible.

'FTS has proven themselves to be a reliable partner for PAETEC, and they have a deep understanding of the competitive communications industry,' Moore said.

Shaul Ganel, President, FTS Americas, said, 'FTS has a long history with PAETEC and their evolving billing practices.  We look forward to continuing our support for PAETEC's customer-billing requirements.'

About PAETEC
PAETEC (NASDAQ GS: PAET) is personalizing communications for business-class customers across the United States. We offer a comprehensive suite of data, voice, and IP services, as well as enterprise communications management software, network security solutions, CPE, and managed services. For more information, visit www.paetec.com.

About FTS
FTS (LSE: FTS) is a leading provider of Billing, CRM and Business Control solutions for communications and content service providers. By analyzing events from a business standpoint rather than just billing them, FTS allows providers to better understand their customer base and leverage business value from every event and interaction. FTS deploys its full range of end-to-end, stand-alone and add-on solutions to customers in over 40 countries and has implemented solutions in wireless, wireline, cable, content and broadband markets including multiple cross-network installations. Serving the evolving needs of both traditional and next generation service providers, the company's operations comprise four international R&D locations and strategically-located sales support offices worldwide. In 2007, FTS was voted the 'Most Promising Company' at the prestigious TeleStrategies Billing and OSS World industry event. For more information please visit http://www.fts-soft.com/.