Acquisition Update

RNS Number:1980M
Redknee Solutions Inc.
21 January 2008


For Immediate Release                                            21 January 2008


                             Redknee Solutions Inc.

                   ("Redknee", "the Company" or "the Group")


           Shareholders of Argent Networks Do Not Approve Acquisition


Redknee (AIM: RKN), a leading provider of innovative infrastructure software
that monetizes and personalizes services and content for mobile operators,
announces that the shareholders of Argent Networks Ltd. did not approve the
acquisition of the assets of the company by Redknee Solutions Inc., which was a
necessary condition to close the transaction.


While Redknee does not intend to make an improved offer for Argent, management
is assessing whether there are other alternatives for purchasing certain assets
of the Company.


Based on the foregoing, Redknee re-iterates its December 4, 2007 guidance that
fiscal 2008 revenues will be between $45 million and $48 million.


Lucas Skoczkowski, CEO at Redknee, commented:


"Whilst we are disappointed not to have received shareholder approval, we will
continue an open dialogue with Argent's management in the hope of reaching an
agreement.


"Argent is one of a number of acquisition possibilities being considered by
management and we remain committed to capitalising on suitable opportunities."



For further details please contact:

North American Media Relations         Financial Public Relations:
Contacts:
                                       Jeremy Garcia
Heidi Rosenberg
                                       Buchanan Communications
NPI PR
                                       [phone]
[phone]
                                       [e-mail]
[e-mail]


Dalia Asterbadi

Redknee Solutions

[phone]

[e-mail]


Nomad:                                 Redknee Solutions

Canaccord Adams Limited                Colley Clarke, Chief Financial Officer

Ryan Gaffney/Andrew Chubb              [phone]

[phone]                       [e-mail]

[phone]

[e-mail]





About Redknee

Redknee is a leading global provider of innovative communication software
products, solutions and services. Redknee's award-winning solutions enable
operators to monetize the lifetime value of each subscriber transaction while
personalizing the subscriber experience to meet mainstream, niche and individual
market segment requirements.  Redknee's revenue generating solutions provide
advanced converged billing, rating, charging and policy for voice, messaging and
new generation data services to over 50 network operators in over 40 countries.
Established in 1999, Redknee Solutions Inc. (RKN : AIM) is the parent of the
wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries.
References to Redknee refer to the combined operations of those entities. For
more information, please visit www.redknee.com.




                      This information is provided by RNS
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