Chevy Chase Bank Deploys Verint Networked Video Solution

Business Wire, April 23, 2007

Washington DC Area Bank Enhances Security Across a Network of More than 275 Branch Locations

MELVILLE, N.Y. -- Verint Systems Inc., a leading provider of analytic software-based solutions for security and business intelligence, today announced that Chevy Chase Bank has deployed Verint's Networked Video solution to enhance security at more than 275 branch locations throughout the Washington D.C. metro area.

With more than $14 billion in assets, Chevy Chase Bank is the Washington D.C. area's largest locally owned and managed bank with more than 275 branches and the region's largest ATM network. A regional institution, Chevy Chase Bank was founded in 1969 and provides a wide range of financial services including retail and commercial banking, mortgage and home equity lending, consumer, small business and asset management services.

Verint's Networked Video solution is designed to enable Chevy Chase Bank to distribute video intelligence across the bank's enterprise to authorized security personnel to enhance fraud prevention and to help resolve customer disputes in a timely manner. Additionally, through its sophisticated ATM integrations, the Verint solution enables Chevy Chase Bank security personnel to correlate video with ATM transaction data to intelligently expedite the investigation process.

"At Chevy Chase Bank, our goal is to satisfy every customer every time," said Kevin Smith, Senior Vice President and Corporate Security Director, Chevy Chase Bank. "Verint's networked video solutions have increased the efficiency of our investigative process, which ultimately enhances the customer experience."

Verint's Networked Video Solutions enable organizations of all sizes, from small and mid-sized enterprises to major government and commercial organizations, to enhance the security of their facilities and infrastructure and the performance of their business operations by networking video across multiple locations and applying advanced content analytics to extract actionable intelligence from live and stored video. By alerting security personnel to potential security threats, Verint solutions help organizations prevent security breaches, improve response time and enhance operational efficiency.

"As a leading provider of security solutions for the retail banking market, we are pleased to help Chevy Chase Bank effectively address their critical security requirements," said Dan Bodner, Verint's CEO and President. "Our networked video solutions are designed to provide multi-site institutions with the actionable intelligence they need to maintain secure operations, mitigate fraud and rapidly resolve internal investigations."

About Verint Systems Inc.

Verint Systems Inc. (PINK SHEETS: VRNT), headquartered in Melville, New York, is a leading provider of analytic software-based solutions for security and business intelligence. Verint software, which is used by over 1,000 organizations in over 50 countries worldwide, generates actionable intelligence through the collection, retention and analysis of voice, fax, video, email, Internet and data transmissions from multiple communications networks. Visit us at our website www.verint.com.

Note: This release contains "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. There can be no assurances that forward-looking statements will be achieved, and actual results could differ materially from forecasts and estimates. Important risks, uncertainties and other important factors that could cause actual results to differ materially include, among others: introducing quality products on a timely basis that satisfy customer requirements and achieve market acceptance; lengthy and variable sales cycles create difficulty in forecasting the timing of revenue; the impact on Verint's financial results as a result of Comverse's creation of a Special Committee of the Board of Directors of Comverse to review matters relating to grants of Comverse stock options, including but not limited to, the accuracy of the stated dates of Comverse option grants and whether Comverse followed all of its proper corporate procedures and the results of the Comverse Special Committee's review; the effect of Verint's failure to timely file all required reports under the Securities Exchange Act of 1934; the facts and circumstances underlying certain potential accounting errors, as well as certain other areas requiring additional review, announced by Comverse and Verint; Verint's ability to have its common stock relisted on The NASDAQ Global Market; the impact of governmental inquiries arising out of or related to option grants and the other accounting errors identified at Comverse; the inability to complete the Company's proposed merger with Witness Systems, Inc. due to Witness' failure to obtain stockholder approval or the failure to satisfy other conditions to the completion of the merger including the receipt of required regulatory approvals; the failure to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the merger; risks that the proposed merger disrupts current plans and operations and the potential difficulties in employee retention as a result of the merger; the ability to recognize the benefits of the merger; the amount of the costs, fees, expenses and charges related to the merger and the actual terms of certain financings that will be obtained for the merger and the impact of the substantial indebtedness incurred to finance the consummation of the merger; integrating the business and personnel of Mercom and CM Insight and Verint's other acquisitions, including implementation of adequate internal controls; risks associated with significant foreign operations, including fluctuations in foreign currency exchange rates; aggressive competition in all of Verint's markets, which creates pricing pressure; managing our expansion in the Asia Pacific region; risks that Verint's intellectual property rights may not be adequate to protect its business or that others may claim that Verint infringes upon their intellectual property rights; risks associated with Verint's ability to retain existing personnel and recruit and retain qualified personnel in all geographies in which Verint operates; decline in information technology spending; changes in the demand for Verint's products; challenges in increasing gross margins; risks associated with changes in the competitive or regulatory environment in which Verint operates; dependence on government contracts; expected increase in Verint's effective tax rate; perception that Verint improperly handles sensitive or confidential information; inability to maintain relationships with value added resellers and systems integrators; difficulty of improving Verint's infrastructure in order to be able to continue to grow; risks associated with Comverse Technology, Inc. controlling Verint's business and affairs; and other risks described in filings with the Securities and Exchange Commission, including our current report on Form 8-K filed March 22, 2007. All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov or from Verint's website at www.verint.com. Verint makes no commitment to revise or update any forward-looking statements except as otherwise required by law.