ACEC Ace Comm Corp (MM)

ACE*COMM Corporation (NASDAQ: ACEC) today announced that negotiations on its proposed $4.2 million convertible debt financing are proceeding and that it expects to sign a contract in the next several days. The financing, originally announced in the Company�s May 15, 2007 third-quarter-2007 earnings announcement, will provide ACE*COMM with working capital to continue successfully penetrating the wireless market with its Patrol Suite� product line. Additional details on the financing and use of proceeds will be provided when the transaction is finalized. About ACE*COMM ACE*COMM is a global provider of advanced operations support systems (OSS) and service delivery solutions for telecommunications service providers and enterprises. ACE*COMM�s advanced OSS solutions are applicable to a range of legacy through next-generation networks that include wired, wireless, voice, data, multimedia and Internet communications networks. Network operators use them for revenue management, cost reduction, improved operational efficiency, acceleration of time-to-market for new services, and more effective customer care. ACE*COMM�s service delivery solutions provide mobile service providers with award-winning, in-demand consumer-oriented services to help them achieve and sustain market share, generate new revenue and position themselves as market innovators. For more than 20 years, ACE*COMM technology has been effectively deployed for more than 300 customers, spanning more than 4000 installations in 70 countries worldwide. ACE*COMM-installed products are currently enabling the success of customers and partners such as Alcatel, AT&T, Cisco, General Dynamics, IBM, Level 3 Communications, Marconi, Motorola, Northrop Grumman, Siemens, and Unisys. Headquartered in Gaithersburg, MD, near Washington, DC, ACE*COMM has corporate offices in Australia, Canada, China, and the UK. ACE*COMM is an ISO 9001 quality standard compliant company. For more information, visit www.acecomm.com. Except for historical information, the matters discussed in this news release include forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including, but not limited to: the failure of anticipated demand to materialize, delays or cancellations of orders due to various factors, including business and economic conditions in the U.S. and foreign countries; industry-wide slowdowns, any limitations on customers� financial resources, the continued convergence of voice and data networks, the continuing success of the Company�s strategic alliances for product development and marketing, customer purchasing and budgetary patterns or lack thereof; pricing pressures and the impact of competitive products; the timely development and acceptance of new products; the Company�s ability to adequately support its operations, and other risks detailed from time to time in the Company�s Report on Form 10-Q and other reports filed with the Securities Exchange Commission.