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| Press Release - October 30, 2003 |
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Yoqneam, Israel, October 30, 2003 MIND CTI ANNOUNCES RECORD DATE AND DISTRIBUTION DATE OF CASH DIVIDEND OF 14 CENTS PER SHARE MIND C.T.I. LTD. (NASDAQ: MNDO), a leading global provider of real-time mediation, rating, billing and customer care solutions for pre-paid and post-paid voice, data and content, today announced a dividend distribution to its shareholders. Following the receipt of approval from the District Court of Haifa, the Company announced today the details of its previously announced cash dividend on its ordinary shares. The amount of the dividend will be 14 cents per share, or approximately $3.0 million in the aggregate. The Company also announced that it received a pre-ruling from the Israeli Income Tax Authorities according to which the Company is not required to withhold any tax from the dividend amount to be distributed to the shareholders, except for certain major shareholders. This pre-ruling applies only to this particular dividend and not to future dividends, if any. Accordingly, each shareholder, except such major shareholders, will receive $0.14 per share, net. The record date for the distribution of the dividend will be November 12, 2003, at 5:00 p.m. New York time, and the payment date will be November 24, 2003. About MIND MIND is a leading global provider of real-time mediation, rating, billing and customer care solutions for prepaid and post-paid voice, data and content. Our customers include worldwide leading carriers servicing millions of subscribers, using our end-to-end solutions for the deployment of new services. MIND operates from offices in the United States, Europe, China and Israeli headquarters. For financial information, reports and presentations, please visit the Investor Relations site: http://www.mindcti.com/ir Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information. For more information please contact:
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