Evolving Systems Announces Share Repurchase Program of up to $5.0M

Evolving Systems, Inc. EVOL, a leading provider of software solutions and services to the wireless, wireline and cable markets, today announced that its Board of Directors has authorized a share repurchase program for up to $5.0 million in aggregate of the Company's common stock. Beginning on May 20, 2011, and continuing through December 31, 2011, the Company intends to make purchases from time to time at prevailing market prices either in the open market or through privately negotiated transactions. The size and timing of such purchases, if any, will be based on market and business conditions as well as other factors. The Company is not obligated to purchase any shares. Purchases under the program can be discontinued at any time the Company determines additional purchases are not warranted. As of May 6, 2011, Evolving Systems had 10,762,814 shares outstanding.