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Second Quarter Results for Fiscal 2001
EPS, excluding acquisition-related charges, increases by 42.9% to $0.30

     Earnings Release
St. Louis, MO – April 23, 2001 -- Amdocs Limited (NYSE: DOX) today reported that for the second quarter ended March 31, 2001, revenue reached $372.3 million, an increase of 37.5% over last year’s second quarter. Excluding acquisition-related charges, net income increased 49.7% to $67.6 million, while earnings per share increased 42.9% to $0.30 per diluted share, compared to net income of $45.2 million, or $0.21 per diluted share, in the second quarter of fiscal 2000. The Company’s as-reported net income, which includes acquisition-related charges of amortization of goodwill and purchased intangible assets and related tax effects, was $15.4 million, or $0.07 per diluted share, compared to net income of $42.9 million, or $0.20 per diluted share, in the second quarter of fiscal 2000.

Avi Naor, Chief Executive Officer of Amdocs Management Limited, noted, “This was another excellent quarter for Amdocs. We continue to demonstrate strong, consistent growth, and to exceed our financial objectives. Our new business wins this quarter were strong across all our product platforms and from both new and existing customers. We are very confident that our positive momentum will be maintained with excellent business results in the coming quarters.”

Naor continued, “We had 13 new business wins during the quarter, an unprecedented number for Amdocs. As a result of our ongoing success, we continued to expand our workforce, adding 450 information system professionals worldwide in the last quarter. We also have a strong and diverse pipeline of business prospects, across all regions, lines of business and services, including solutions and outsourcing projects. Our visibility is excellent, based on our ongoing long-term relationships with existing customers.”

Naor concluded, “Amdocs’ stability and consistency can be attributed to a number of factors. The customer care and billing systems market is very strong and dynamic. Customer care and billing systems serve as key differentiators in the intensely competitive communications marketplace, as operators seek to offer new technologies and services as well as support continued growth. In addition, our well-balanced portfolio also provides great stability. Our portfolio of offerings includes a broad product suite, spanning CRM, billing and order management; the ability to support multiple lines of business, whether mobile, wireline or IP; a variety of service alternatives including licensed solutions and outsourcing projects; and geographic diversity spanning all major global markets. Furthermore, our solutions-based, services-oriented business model and long-term customer relationships ensure a consistent, ongoing revenue flow.”

Amdocs is the world’s leader in CRM, billing and order management systems for communications and IP service providers. Amdocs has an unparalleled success record in project delivery of its mission-critical products. With over 8,150 information systems professionals deployed worldwide, Amdocs supports a global customer base. For more information visit our Web site at www.amdocs.com.

Amdocs will host a conference call on April 23 at 5 p.m. Eastern Daylight Time to discuss the Company’s second quarter results. The call will be carried live on the Internet via www.vcall.com and the Amdocs website, www.amdocs.com.

This press release may contain forward looking statements as defined under the Securities Act of 1933, as amended, including statements about Amdocs’ growth and business results in future quarters. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, Amdocs’ ability to continue leveraging its growth in each of the mobile, wireline and IP business segments, the adverse effects of market competition, rapid changes in technology that may render the company’s products and services obsolete, potential loss of a major customer, and risks associated with operating businesses in the international market. These and other risks are discussed at greater length in the company’s filings with the Securities and Exchange Commission.

Contact:

Thomas G. O'Brien
Treasurer and Director of Investor Relations
Amdocs Limited
314/212-8328
E-mail: dox_info@amdocs.com