News : Tekelec Closes Sale Of IEX To NICE-Systems Ltd.

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Morrisville, N.C. — July 6, 2006 — Tekelec (NASDAQ: TKLC), a developer of high-performance network applications for next-generation fixed, mobile and packet networks, today announced that it has closed the sale of its IEX business unit to NICE Systems Inc., a subsidiary of NICE-Systems Ltd. (NASDAQ: NICE).

As previously announced, in April 2006, Tekelec and NICE-Systems Ltd. entered into a definitive agreement for the purchase by NICE-Systems Ltd. from Tekelec of all of the stock of Tekelec's wholly owned subsidiary, IEX Corporation, a global provider of workforce management and optimization technology for contact centers. The purchase price was $200 million in cash, subject to a post-closing working capital adjustment. The Company estimates that it will realize net proceeds of $160-$165 million, after payment of applicable income taxes and transaction costs.

About IEX Corp:

IEX Corporation, a subsidiary of NICE Systems Ltd., is a provider of workforce management and performance optimization technology for contact centers.More than 3,100 contact centers, with over 900,000 agents in more than 50 countries, rely on the company’s solutions to plan and optimize the performance of their agent workforce.

Date and Time Posted: Friday, July 07, 2006 5:25 AM

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