Exhibit 99.01

    SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS UNDER THE PRIVATE SECURITIES
                         LITIGATION REFORM ACT OF 1995

                       CERTAIN CAUTIONARY STATEMENTS AND
                                 RISK FACTORS

  CSG Systems International, Inc. and its subsidiaries (collectively, the
"Company") or their representatives from time-to-time may make or may have
made certain forward-looking statements, whether orally or in writing,
including without limitation, any such statements made or to be made in the
Management's Discussion and Analysis of Financial Condition and Results of
Operations contained in its various SEC filings or orally in conferences or
teleconferences. The Company wishes to ensure that such statements are
accompanied by meaningful cautionary statements, so as to ensure to the
fullest extent possible the protections of the safe harbor established in the
Private Securities Litigation Reform Act of 1995.

  ACCORDINGLY, THE FORWARD-LOOKING STATEMENTS ARE QUALIFIED IN THEIR ENTIRETY
BY REFERENCE TO AND ARE ACCOMPANIED BY THE FOLLOWING MEANINGFUL CAUTIONARY
STATEMENTS IDENTIFYING CERTAIN IMPORTANT FACTORS THAT COULD CAUSE ACTUAL
RESULTS TO DIFFER MATERIALLY FROM THOSE IN SUCH FORWARD-LOOKING STATEMENTS.

  This list of factors is likely not exhaustive. The Company operates in a
rapidly changing and evolving business involving the converging communications
markets, and new risk factors will likely emerge. Management cannot predict
all of the important risk factors, nor can it assess the impact, if any, of
such risk factors on the Company's business or the extent to which any factor,
or combination of factors, may cause actual results to differ materially from
those in any forward-looking statements.

  ACCORDINGLY, THERE CAN BE NO ASSURANCE THAT FORWARD-LOOKING STATEMENTS WILL
BE ACCURATE INDICATORS OF FUTURE ACTUAL RESULTS, AND IT IS LIKELY THAT ACTUAL
RESULTS WILL DIFFER FROM RESULTS PROJECTED IN FORWARD-LOOKING STATEMENTS AND
THAT SUCH DIFFERENCES MAY BE MATERIAL.

RELIANCE ON CCS

  The Company derived approximately 74.2% and 75.8% of its total revenues from
its core customer care and billing system, CSG CCS/BP (formerly known as CCS),
and related products and services (collectively, "CCS") in the years ended
December 31, 2001 and 2000, respectively. CCS is expected to provide a large
portion of the Company's total revenues in the foreseeable future.

  The Company continues to develop new products and services to address the
evolving needs of its new and existing clients as they roll out new product
offerings and enter new markets. A substantial portion of the Company's new
products and services require enhancements to the core functionality of CCS.
There is an inherent risk of technical problems in maintaining and operating
CCS as its complexity is increased. The Company's results will depend upon
continued market acceptance of CCS, as well as the Company's ability to
continue to adapt, modify, maintain, and operate CCS to meet the changing
needs of its clients without sacrificing the reliability or quality of
service. Any reduction in demand for CCS would have a material adverse effect
on the financial condition and results of operations of the Company.

AT&T RELATIONSHIP

Contract Rights and Obligations (as amended)

  The AT&T Contract has an original term of 15 years and expires in 2012. The
AT&T Contract includes minimum financial commitments by AT&T over the life of
the contract, and as amended, includes exclusive rights for the Company to
provide customer care and billing products and services for AT&T's offerings
of wireline video, all Internet/high speed data services, and print and mail
services. During the fourth quarter of

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2000, the Company relinquished its exclusive rights to process AT&T's wireline
telephony customers, and those AT&T customers were fully converted to another
service provider by the end of 2001. The Company does not expect the loss of
these customers to have a material impact on the Company's result of
operations.

  Effective April 2001, the Company amended its agreement with AT&T giving the
Company certain additional contractual rights to continue processing, for a
minimum of one year, customers that AT&T may divest. These new rights are co-
terminus with and are in addition to the existing minimum processing
commitments the Company has with AT&T through 2012. Any such divestitures to a
third party would not: (i) relieve AT&T of its minimum processing commitments;
(ii) impact the Company's exclusivity rights under the AT&T Contract; or (iii)
impact the term of the AT&T Contract.

  On December 19, 2001, AT&T and Comcast Corporation ("Comcast") announced
that their board of directors approved a definitive agreement to combine AT&T
Broadband with Comcast. Under the reported terms of the definitive agreement,
AT&T will spin off AT&T Broadband and simultaneously merge it with Comcast,
forming a new company to be called AT&T Comcast Corporation. It is premature
at this time to speculate what impact this transaction will have on the
Company's operations, if any. The Company believes the AT&T Contract would
remain in effect in the event there is a change in control of AT&T Broadband;
however, it is impossible to predict how any successor entity(s) to AT&T
Broadband would interpret their obligations under the AT&T Contract. It is
also impossible to predict what impact any dispute would have on the Company's
results of operations or market for its securities. See below for a further
discussion concerning disputes with AT&T.

  The AT&T Contract contains certain performance criteria and other
obligations to be met by the Company. The Company is subject to various
remedies and penalties if it fails to meet the performance criteria or other
obligations. The Company is also subject to an annual technical audit to
determine whether the Company's products and services include innovations in
features and functions that have become standard in the wireline video
industry. If an audit determines the Company is not providing such an
innovation and it fails to do so in the manner and time period dictated by the
contract, then AT&T would be released from its exclusivity obligation to the
extent necessary to obtain the innovation from a third party.

  To fulfill the AT&T Contract and to remain competitive, the Company believes
it will be required to develop additional features to existing products and
services, and possibly in certain circumstances, new products and services,
all of which will require substantial research and development, as well as
implementation and operational aptitude. AT&T has the right to terminate the
AT&T Contract in the event of certain defaults by the Company. To date, the
Company believes it has complied with the terms of the contract. Should the
Company fail to meet its obligations under the AT&T Contract, and should AT&T
be successful in any action to either terminate the AT&T Contract in whole or
in part, or collect damages caused by an alleged breach, it would have a
material adverse impact on the Company's future results of operations. Indeed,
on September 27, 2000, AT&T filed a Demand for Arbitration relating to the
AT&T Contract, causing a significant drop in the trading price of the
Company's Common Stock. On October 10, 2000, AT&T agreed to dismiss its Demand
for Arbitration with the Company. In connection with the dismissal, the
companies agreed to amend the AT&T Contract. See "Management's Discussion and
Analysis of Financial Condition and Results of Operations" for additional
discussions of this matter.

  On March 13, 2002, AT&T Broadband notified the Company that AT&T is
"considering" the initiation of arbitration against the Company relating to
the AT&T Contract.

  The letter states that AT&T's decision whether to seek arbitration is
subject to the parties exhausting the negotiation process specified in the
AT&T Contract. That dispute resolution portion of the agreement calls for
senior officers from each company to meet promptly and for a period of not
less than 30 days in an effort to resolve the dispute.

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  AT&T stated that any action to terminate the AT&T Contract would be based
upon the following claims. First, AT&T claims that the Company has failed to
provide bundled or aggregated billing services, including the Company's breach
of its obligation to provide telephony billing when required to do so under
the AT&T Contract. Second, the letter states that the Company has not
cooperated with AT&T in utilizing another vendor to provide aggregated billing
services, as well as the Company's improper assertion of its exclusivity
rights. Third, the letter claims that the Company has breached the Most
Favored Nations clause of the AT&T Contract.

  The letter further states that should a negotiated resolution not be
achieved, AT&T could elect to seek a declaration that it is entitled to
terminate the AT&T Contract on the fifth anniversary of the contract which is
August 10, 2002.

  The Company denies that it is in breach of the AT&T Contract. As of the date
of this filing, discussions were ongoing with AT&T in an effort to resolve the
dispute. It is impossible to predict at this time when or how any resolution
will be forthcoming. Should AT&T be successful in its claims, or in
terminating the AT&T Contract in whole or in part, it would have a material
adverse effect on the financial condition of the Company and its overall
future operations.

  While the substance of the negotiations between the Company and AT&T are not
being made public at this time, readers are strongly encouraged to review
frequently the Company's filings with the SEC as well as all public
announcements from the Company relating to the dispute between the companies.
This is of particular importance as the resolution of the dispute is highly in
flux as of the date of this filing.

  A copy of the AT&T Contract and all subsequent amendments (including the
amendment executed as part of the agreement to withdraw AT&T's September 27,
2000 Demand for Arbitration) are included in the Company's exhibits to its
periodic public filings with the SEC. These documents are available on the
Internet and the Company encourages readers to review those documents for
further details.

Business Activities and Dependence On AT&T

  AT&T completed its merger with Tele-Communications, Inc. ("TCI") in 1999 and
completed its merger with MediaOne Group, Inc. ("MediaOne") in 2000. During
the years ended December 31, 2001 and 2000, revenues from AT&T and affiliated
companies represented approximately 55.8% and 50.4% of total Company revenues,
respectively. The increase in the percentage between periods relates primarily
to AT&T's customer growth and the timing and the amount of software and
services purchased by AT&T. The Company expects to continue to generate a
large portion of its total revenues from AT&T and affiliated companies in the
future. There are inherent risks whenever this large of a percentage of total
revenues is concentrated with one customer. One such risk is that, should
AT&T's business generally decline, it would have a material impact on the
Company's future results of operations.

  If the Company were to fail to continue to perform successfully under the
AT&T Contract, that would have a material adverse effect on the financial
condition and results of operations of the Company. Likewise, if AT&T were to
breach its material obligations to the Company, that would have a material
adverse effect on the financial condition and results of operations of the
Company.

  Historically, a substantial portion of the Company's revenue growth has
resulted from the sale of products and services to AT&T, both of which are in
excess of the minimum financial commitments included in the contract. There
can be no assurance that the Company will continue to sell products and
services to AT&T in excess of the minimum financial commitments included in
the contract.

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RENEWAL OF AOL TIME WARNER CONTRACTS

  America Online, Inc. (AOL) and Time Warner completed their merger in 2000,
and now operate under the name AOL Time Warner, Inc. (AOL Time Warner). During
the years ended December 31, 2001 and 2000, revenues from AOL Time Warner
represented approximately 7.5% and 8.3% of total revenues, respectively. The
Company provides services to AOL Time Warner under multiple, separate
contracts with various AOL Time Warner affiliates. These contracts are
scheduled to expire on various dates. The failure of AOL Time Warner to renew
contracts representing a significant part of its business with the Company
would have a material adverse impact on the financial condition and results of
operations of the Company.

INDUSTRY CONSOLIDATION AND DEPENDENCE ON VIDEO INDUSTRY--CABLE TELEVISION AND
DBS

  The Company's business is concentrated in the cable television and direct
broadcast satellite ("DBS") industries, making the Company susceptible to a
downturn in those industries. During the years ended December 31, 2001 and
2000, the Company derived 82.3% and 77.7%, and 11.7% and 16.0% of its total
revenues from companies in the U.S. cable television and U.S. and Canadian DBS
industries, respectively. A decrease in the number of customers served by the
Company's clients, loss of business due to non-renewal of client contracts,
industry consolidation, and/or changing consumer demand for services would
adversely effect the results of operations of the Company.

  There can be no assurance that new entrants into the video market will
become clients of the Company. Also, there can be no assurance that video
providers will be successful in expanding into other segments of the
converging communications markets. Even if major forays into new markets are
successful, the Company may be unable to meet the special billing and customer
care needs of that market. The cable television industry both domestically and
internationally is undergoing significant ownership changes at an accelerated
pace. One facet of these changes is that cable television providers are
consolidating, decreasing the potential number of buyers for the Company's
products and services. Seven providers account for over 85% of the U.S. cable
television market and two providers account for almost the entire U.S. DBS
market. The Company processes and/or provides statement printing for at least
a portion of the customers: (i) for six of the seven cable television
providers; and (ii) for one of the DBS providers. For the years ended December
31, 2001 and 2000, approximately 87% and 81% of the Company's total revenues
were generated from companies under the control of these seven providers.
Consolidation in the industry may put at risk the Company's ability to
leverage its existing relationships. Should this consolidation result in a
concentration of cable television customer accounts being owned by companies
with whom the Company does not have a relationship, or with whom competitors
are entrenched, it could negatively effect the Company's ability to maintain
or expand its market share, thereby adversely effecting the results of
operations.

CONVERSION TO THE COMPANY'S SYSTEMS

  The Company's ability to convert new client sites to its customer care and
billing systems on a timely and accurate basis is necessary to meet the
Company's typical contractual commitments and to achieve its business
objectives. Converting multiple sites under the schedules required by
contracts or business requirements is a difficult and complex process. One of
the difficulties in the conversion process is that competition for the
necessary qualified personnel is intense and the Company may not be successful
in attracting and retaining the personnel necessary to complete conversions on
a timely and accurate basis. The inability of the Company to perform the
conversion process timely and accurately would have a material adverse impact
on the results of operations of the Company. As of December 31, 2001, the
Company had scheduled approximately 300,000 customers to be converted onto its
processing system during 2002.

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NEW PRODUCTS AND RAPID TECHNOLOGICAL CHANGE

  The market for customer care and billing systems is characterized by rapid
changes in technology and is highly competitive with respect to the need for
timely product innovations and new product introductions. The Company believes
that its future success in sustaining and growing its processing revenues and
software and professional services revenues depends upon continued market
acceptance of its current products, including CCS, and its ability to enhance
its current products and develop new products that address the increasingly
complex and evolving needs of its clients. Substantial research and
development will be required to maintain the competitiveness of the Company's
products and services in the market. Development projects can be lengthy and
costly, and are subject to changing requirements, programming difficulties, a
shortage of qualified personnel, and unforeseen factors which can result in
delays. In addition, the Company is typically responsible for the
implementation of new products, and depending upon the specific product, may
also be responsible for operations of the product. There is an inherent risk
in the successful implementation and operations of these products as the
technological complexity increases. There can be no assurance: (i) of
continued market acceptance of the Company's current products; (ii) that the
Company will be successful in the timely development of product enhancements
or new products that respond to technological advances or changing client
needs; or (iii) that the Company will be successful in supporting the
implementation and/or operations of product enhancements or new products.

CONVERGING COMMUNICATIONS MARKETS

  The Company's growth strategy is based in part on the continuing convergence
and growth of the worldwide cable television, DBS, telecommunications, and on-
line services markets. If these markets fail to converge, grow more slowly
than anticipated, or if providers in the converging markets do not accept the
Company's solution for combining multiple communications services for a
customer, there could be a material adverse effect on the Company's growth.

COMPETITION

  The market for the Company's products and services is highly competitive.
The Company directly competes with both independent providers of products and
services and in-house systems developed by existing and potential clients. In
addition, some independent providers are entering into strategic alliances
with other independent providers, resulting in either a new competitor, or a
competitor(s) with greater resources. Many of the Company's current and
potential competitors have significantly greater financial, marketing,
technical, and other competitive resources than the Company, many with
significant and well established international operations. There can be no
assurance that the Company will be able to compete successfully with its
existing competitors or with new competitors.

ATTRACTION AND RETENTION OF PERSONNEL

  The Company's future success depends in large part on the continued service
of its key management, sales, product development, and operational personnel.
The Company is particularly dependent on its executive officers. The Company
believes that its future success also depends on its ability to attract and
retain highly skilled technical, managerial, operational, and marketing
personnel, including, in particular, additional personnel in the areas of
research and development and technical support. Competition for qualified
personnel is intense, particularly in the areas of research and development,
conversions and technical support. The Company may not be successful in
attracting and retaining the personnel it requires, which would adversely
effect the Company's ability to meet its commitments and new product delivery
objectives.

INTEGRATION OF ACQUISITIONS

  As part of its growth strategy, the Company seeks to acquire assets,
technology, and businesses which would provide the technology and technical
personnel to expedite the Company's product development efforts, provide
complementary products or services, or provide access to new markets and
clients. Consistent with this strategy, the Company recently completed the
acquisition of the Kenan Business. See "Management's Discussion and Analysis
of Financial Condition and Results of Operations" for additional discussions
of the Kenan Acquisition.

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  Acquisitions involve a number of risks and difficulties, including: (i)
expansion into new geographic markets and business areas; (ii) the requirement
to understand local business practices; (iii) the diversion of management's
attention to the assimilation of acquired operations and personnel; (iv)
potential adverse effects on the Company's operating results for various
reasons, including but not limited to the following items: (a) the Company's
inability to achieve revenue targets; (b) the Company's inability to manage
and/or reduce operating costs; (c) the Company's inability to achieve certain
operating synergies; (d) costs incurred to integrate, support, and expand the
acquired business; (e) charges related to purchased in-process research and
development projects; (f) costs incurred to exit current or acquired contracts
or activities; (g) costs incurred to manage the size of the combined existing
and acquired workforce, due to certain redundancies or inefficiencies; (h)
costs incurred to service any acquisition debt; and (i) the amortization or
impairment of intangible assets.

  Due to the multiple risks and difficulties associated with any acquisition,
there can be no assurance that the Company will be successful in achieving its
expected strategic and operating goals for any such acquisition.

VARIABILITY OF QUARTERLY RESULTS

  The Company's quarterly revenues and operating results, particularly
relating to software and professional services, may fluctuate depending on
various factors, including the timing of executed contracts and the delivery
of contracted services or products, the cancellation of the Company's services
and products by existing or new clients, the hiring of additional staff, new
product development and other expenses. No assurance can be given that results
will not vary due to these factors.

  Variability in quarterly revenues and operating results are inherent
characteristics of the software industry. One common cause of a failure to
meet revenue and operating expectations in the software industry is the
inability to close one or more larger software transactions that may have been
anticipated by management in any particular period. The Company expects
software and professional services revenues to become an increasingly larger
portion of its total revenues in the future. Consequently, as the Company's
total revenues grow, so too does the risk associated with meeting financial
expectations for revenues derived from its software and professional services
offerings. As a result, there is a proportionately increased likelihood that
the Company may fail to meet revenue and earnings expectations of the analyst
community. With the current volatility of the stock market, should the Company
fail to meet analyst expectations by even a relatively small amount it would
most likely have a disproportionately negative impact upon the market price
for the Company's Common Stock.

DEPENDENCE ON PROPRIETARY TECHNOLOGY

  The Company relies on a combination of trade secret and copyright laws,
nondisclosure agreements, and other contractual and technical measures to
protect its proprietary rights in its products. The Company also holds a
limited number of patents on some of its newer products, and does not rely
upon patents as a primary means of protecting its rights in its intellectual
property. There can be no assurance that these provisions will be adequate to
protect its proprietary rights. Although the Company believes that its
intellectual property rights do not infringe upon the proprietary rights of
third parties, there can be no assurance that third parties will not assert
infringement claims against the Company or the Company's clients.

  Historically, the vast majority of the Company's revenue has come from
domestic sources, limiting the need to develop a strong international
intellectual property protection program. With the Kenan Acquisition, the
Company has clients using its products in approximately 40 countries. As a
result, the Company needs to continually assess whether there is any risk to
its intellectual property rights in many countries throughout the world.
Should these risks be improperly assessed or if for any reason should the
Company's right to develop, produce and distribute its products anywhere in
the world be successfully challenged or be significantly curtailed, it could
have a material adverse effect on the operations of the Company and its
financial results.

INTERNATIONAL OPERATIONS

  The Company's growth strategy includes a commitment to the marketing of its
products and services internationally. The Company has conducted international
operations in the past and will significantly increase the level of its
international operations as a result of its recent acquisition of the Kenan
Business. The Company

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is subject to certain inherent risks associated with operating internationally
including: (i) difficulties with product development meeting local
requirements such as the conversion to the local currencies and languages;
(ii) difficulties in staffing and management of personnel, including
considerations for cultural differences; (iii) reliance on independent
distributors or strategic alliance partners; (iv) fluctuations in foreign
currency exchange rates for which a natural or purchased hedge does not exist
or is ineffective; (v) longer collection cycles for client billings (i.e.,
accounts receivables), as well as heightened client collection risks,
especially in countries with highly inflationary economies and/or with
restrictions on movement of cash out a country; (vi) compliance with laws and
regulations related to the collection, use, and disclosure of certain personal
information relating to clients' customer's (i.e. privacy laws) that are more
strict than those currently in force in the U.S.; (vii) effective coordination
of world-wide sales and marketing programs; (viii) compliance with foreign
regulatory requirements, including local labor laws; (ix) variability of
foreign economic conditions; (x) changing restrictions imposed by U.S. or
foreign import/export laws; (xi) political and economic instability; (xii)
reduced protection for intellectual property rights in some countries; (xiii)
inability to recover value added taxes ("VAT") and/or goods and services taxes
("GST") in foreign jurisdictions; (xiv) competition from companies which have
firmly established significant international operations; and (xv) a potential
adverse impact to the Company's overall effective income tax rate resulting
from: (a) operations in foreign countries with higher tax rates than the U.S.;
(b) the inability to utilize certain foreign tax credits; and (c) the
inability to utilize some or all of losses generated in one or more foreign
countries.

SYSTEM SECURITY

  The end users of the Company's systems are continuously connected to the
Company's products through a variety of public and private telecommunications
networks. The Company plans to expand its use of the Internet with its product
offerings thereby permitting, for example, our clients' customer to use the
Internet to review account balances, order services or execute similar account
management functions. The Company also operates an extensive internal network
of computers and systems used to manage internal communications, financial
information, development data and the like. The Company's product and internal
communications networks and systems carry an inherent risk of failure as a
result of human error, acts of nature and intentional, unauthorized attacks
from computer "hackers." Opening up these networks and systems to permit
access via the Internet increases their vulnerability to unauthorized access
and corruption, as well as increasing the dependency of the systems'
reliability on the availability and performance of the Internet's
infrastructure. Certain system security and other controls for CCS are
reviewed periodically by an independent party. The Company periodically
undergoes a security review of its internal systems by an independent party,
and has implemented a plan intended to limit the risk of an unauthorized
access to the networks and systems, including network firewalls, intrusion
detection systems and antivirus applications.

  The method, manner, cause and timing of an extended interruption or outage
in the Company's networks or systems is impossible to predict. As a result,
there can be no assurances that the Company's networks and systems will not
fail, or that the Company's business recovery plans will adequately mitigate
any damages incurred as a consequence. In addition, should the Company's
networks or systems be significantly compromised, it would most likely have a
material adverse effect on the operations of the Company, including its
ability to meet product delivery obligations or client expectations. Likewise,
should the Company's networks or systems experience an extended interruption
or outage, have their security compromised or data lost or corrupted, it would
most likely result in an immediate loss of revenue or increase in expense, as
well as damaging the reputation of the Company. Any of these events could have
both an immediate, negative impact upon the Company's short term revenue and
profit expectations, as well as its long term ability to attract and retain
new clients.

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PRODUCT OPERATIONS AND SYSTEM AVAILABILITY

  The Company's product operations are run in both mainframe and distributed
system computing environments, as follows:

Mainframe Environment

  CCS operates in a mainframe data processing center managed by FDC (the "FDC
Data Center"), with end users dispersed throughout the United States and
Canada. These services are provided under an agreement with FDC, which is
scheduled to expire June 30, 2005. The Company believes it could obtain
mainframe data processing services from alternative sources, if necessary. The
Company has a business recovery plan as part of its agreement with FDC should
the FDC Data Center suffer an extended business interruption or outage.This
plan is tested on an annual basis.

Distributed Systems Environment

  Several of the Company's new product applications operate in a distributed
systems environment (also known as "open systems"), running on multiple
servers for the benefit of certain clients. During 2001, the Company completed
the migration of these distributed systems servers from its own internal data
center to the FDC Data Center. Under an agreement with FDC that runs through
June 30, 2005, FDC provides the operations monitoring and facilities
management services, while the Company provides hardware, operating systems
and application support.

  Typically, these distributed product applications interface to and operate
in conjunction with CCS via telecommunication networks. The Company is
currently implementing its business recovery plan for these applications. The
Company and FDC have extensive experience in running applications within the
mainframe computing platform, and only within the last few years began running
applications within a distributed systems environment. In addition, the
mainframe computing environment and related technology is mature and has
proven to be a highly reliable and scaleable computing platform. The
distributed systems computing platform is not at the same level of maturity as
the mainframe computing platform. In addition, security attacks on distributed
systems throughout the industry are more prevalent than on mainframe
environments due to the open nature of those systems.

  The end users of the Company's systems are continuously connected to the
Company's CCS products through a variety of public and private
telecommunications networks, and are highly dependent upon the continued
availability of the Company's systems to conduct their business operations.
Should the FDC Data Center, or any particular product application or internal
system which is operated within the FDC Data Center or the Company's
facilities, as well as the connecting telecommunications networks, experience
an extended business interruption or outage, it could have an immediate impact
to the business operations of the Company's clients, which could have a
material adverse impact on the financial condition and results of operations
of the Company, as well as negatively affect the Company's ability to attract
and retain new clients.

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