NICE Systems/Dictaphone

June 1, 2005

      Compass Advisers, LLP ("Compass") is pleased to announce the acquisition of Dictaphone's Communications Recording Systems ("CRS") business by NICE Systems [NASDAQ:NICE], the Israel-based, telecommunications and security company.  Dictaphone's CRS business is a leading provider of liability and quality management systems for first responders, critical facilities, contact centers and financial trading floors.  NICE Systems, a global provider of advanced solutions that enable organizations to utilize advanced content analytics to extract insight from interactions to drive performance, extends its leadership position and market share with this acquisition, which includes a customer base that exceeds 23,000.

      Compass acted as financial advisor to NICE Systems in the all-cash transaction, discreetly performing due diligence, conducting a thorough valuation of the assets, assisting the company in negotiating price and transaction terms, and presenting a fairness opinion to the Board.  The acquisition enabled NICE Systems to achieve its strategic objective to accelerate continued company growth, and solidified a competitive position in each of NICE Systems' active sectors.