Cadian Capital Management Announces Its Support for the Merger of Comverse Technology Into Verint Systems

  Cadian Capital Management Announces Its Support for the Merger of Comverse
                        Technology Into Verint Systems

PR Newswire

NEW YORK, Jan. 31, 2013

NEW YORK, Jan. 31, 2013 /PRNewswire/ --Cadian Capital Management, LLC
(together with its affiliates, "Cadian Capital"), today announced that it
intends to vote the shares of common stock that it owns in Comverse
Technology, Inc. (NASDAQ: CMVT) ("CTI") and Verint SystemsInc. (NASDAQ:VRNT)
("Verint") in favor of the merger of CTI with and into a wholly-owned
subsidiary ("Merger Sub") of Verint, with Merger Sub surviving as a
wholly-owned subsidiary of Verint, at the upcoming special meeting of
shareholders of CTI and special meeting of stockholders of Verint, each
scheduled for February 4, 2013. Cadian Capital believes the terms of the
merger are fair and reasonable to and in the best interests of both CTI
shareholders and Verint stockholders.

On May 30, 2012, Cadian Capital entered into a letter agreement with CTI, in
which the parties agreed, among other things, to take various actions with
respect to the composition of the Board of Directors of Verint, the Board of
Directors of Comverse, Inc., a wholly owned subsidiary of CTI, and the Board
of Directors of CTI, and Cadian Capital agreed, among other things, to vote
all securities of CTI and Verint over which it has beneficial ownership and
publicly announce its intention to vote in favor of a merger between CTI and
Verint if the proposed terms and conditions of which, in the reasonable
business judgment of Cadian Capital acting in good faith, are fair and
reasonable to, and in the best interests of, both CTI shareholders and Verint
stockholders.

Cadian Capital is an equity long/short hedge fund manager with a focus on the
technology sector.

Contact:

Eric Bannasch / Justin Griffith
Cadian Capital Management, LLC
(212) 792-8800

SOURCE Cadian Capital Management, LLC