Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE

For more information, contact:

Roger Metz, Vice President

(303) 804-4082

E-mail: roger_metz@csgsystems.com

CSG SYSTEMS INTERNATIONAL, INC. REPORTS

THIRD QUARTER 2006 RESULTS

CSG Exceeds Expectations: Revenues of $98.5 million;

Income From Continuing Operations of $0.37 per share.

ENGLEWOOD, COLO. (October 24, 2006) — CSG Systems International, Inc. (Nasdaq: CSGS), a leading provider of customer care and billing solutions, today reported results for the quarter ended September 30, 2006.

Third Quarter 2006 Highlights:

• CSG exceeded its financial expectations for the third quarter of 2006. Results from continuing operations were as follows: total revenues were $98.5 million; operating income was $22.5 million; and income from continuing operations (net of tax) was $17.4 million, or $0.37 per diluted share. CSG exceeded the high end of its financial guidance for both revenues and income from continuing operations primarily as a result of its strong operating performance for the quarter.

• Cash flows from operations for the quarter were $28.6 million.

• In August, CSG implemented its $350 million Rule 10b5-1 stock repurchase plan. For the quarter, CSG repurchased 820,000 shares of its common stock for $21.9 million (weighted-average price of $26.69 per share) under this stock repurchase plan.

• To date, over 25 million cable customer accounts have migrated to CSG’s Advanced Convergent Platform, or ACP.

• On July 31, 2006, Adelphia completed the sale of its broadband assets to Comcast and Time Warner. CSG was successful in transferring its Adelphia customer accounts to Comcast and Time Warner.

“We are pleased to announce another strong quarter of operating results,” Ed Nafus, chief executive officer and president of CSG Systems International, Inc., said. “We continue to focus on developing innovative ways for our customers to manage costs and improve customer service while rolling out new products and services. Our customers rely on us as a trusted business partner in this exciting, but highly competitive, telecommunications market. Looking ahead, we will continue to grow our business by providing scalable, feature-rich and flexible solutions that will expand our footprint within current customers and into complementary markets.”

-more-

CSG Systems International, Inc.

October 24, 2006

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Summary GAAP Results of Operations Information (unaudited)

(in thousands, except per share amounts and percentages):

	Three Months Ended September 30,								Nine Months Ended September 30,
	2006			2005			Percent Change		2006			2005			Percent Change
Continuing operations:
Total revenues	$	98,450		$	94,092		5	%	$	286,463		$	284,118		1	%
Operating income		22,530			24,235		(7	%)		66,523			69,935		(5	%)
Income from continuing operations		17,364			14,812		17	%		48,435			42,458		14	%
Discontinued operations, net of tax		(3,760	)		(1,310	)	(187	%)		(3,760	)		(11,828	)	68	%
Net income		13,604			13,502		1	%		44,675			30,630		46	%
Diluted earnings (loss) per share:
Income from continuing operations	$	0.37		$	0.31		19	%	$	1.03		$	0.87		18	%
Discontinued operations, net of tax		(0.08	)		(0.03	)	(167	%)		(0.08	)		(0.24	)	67	%
Net income	$	0.29		$	0.28		4	%	$	0.95		$	0.63		51	%

Third Quarter 2006 Results From Continuing Operations

Total revenues for the third quarter of 2006 were $98.5 million, an increase of five percent when compared to $94.1 million for the same period in 2005, and an increase of four percent when compared to $95.0 million for the second quarter of 2006. The components of total revenues are as follows: (i) processing revenues for the third quarter of 2006 were $90.3 million, up three percent when compared to $87.5 million for the same period last year, and also up three percent when compared to $87.7 million for the second quarter of 2006; and (ii) software, maintenance and services revenues were $8.2 million for the current quarter, a 24 percent increase when compared to $6.6 million for the same period last year, and an increase of 12 percent when compared to $7.3 million for the second quarter of 2006.

Income from continuing operations presented in accordance with generally accepted accounting principles (“GAAP”) for the third quarter of 2006 was $17.4 million, or $0.37 per diluted share, compared to $14.8 million, or $0.31 per diluted share, for the same period last year, and $15.6 million, or $0.33 per diluted share, for the second quarter of 2006. The sequential increase in income from continuing operations between the second and third quarters of 2006 is primarily due to an increase in revenues between periods.

Total customer accounts processed on CSG’s systems as of September 30, 2006 were 44.8 million, compared to 44.9 million as of June 30, 2006. To date, over 75% of CSG’s cable customer accounts have migrated to CSG’s Advanced Convergent Platform, or ACP. The annualized revenue per processing unit (“ARPU”) for the third quarter of 2006 was $8.08 compared to $7.79 for the second quarter of 2006. The sequential increase in total processing revenues and ARPU between the second and third quarters of 2006 relates primarily to certain revenues associated with the closing of the Adelphia transaction with Comcast and Time Warner, as discussed in greater detail below, and due to continued high usage of marketing services and various customer care solutions by CSG’s clients.

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October 24, 2006

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Sale of Adelphia Assets to Comcast and Time Warner

On July 31, 2006, Adelphia completed the sale of its broadband assets to Comcast and Time Warner and the acquired Adelphia customer accounts processed by CSG were transferred to the respective Comcast and Time Warner contracts in August. The closing of this transaction had the following impact to CSG’s processing revenues for the third quarter of 2006:

• CSG recognized approximately $2.8 million of one-time, nonrecurring processing revenues in the third quarter upon the closing of the transaction. These revenues included such things as upfront payments for services that were previously deferred and being recognized ratably under the Adelphia contract.

• Processing revenues related to the acquired Adelphia customer accounts were approximately $1.8 million lower for the third quarter of 2006 when compared to the second quarter of 2006 due to the Comcast and Time Warner contracts having lower per unit pricing than the Adelphia contract (this reflects two months of invoices at the lower per unit pricing).

The above two items resulted in a net increase in processing revenues of approximately $1 million for the third quarter of 2006, when compared to that of the second quarter of 2006. This impact was anticipated in CSG’s financial guidance for the third quarter of 2006. Additionally, although there was some movement of customer accounts between Comcast and Time Warner as a result of this transaction, it had minimal impact on the overall number of customer accounts processed on CSG’s systems.

Settlement Payment to Comverse

During the third quarter of 2006, CSG made a $6 million payment to Comverse, Inc. related to the settlement of a dispute over a joint tax election associated with the sale of CSG’s GSS Business to Comverse in December 2005. This payment to Comverse was considered a reduction in the purchase price previously paid by Comverse, and thus is reflected as part of discontinued operations. As a result, CSG has a loss from discontinued operations (net of tax) for the third quarter of 2006 of $3.8 million, or $0.08 per diluted share. This settlement payment had not been anticipated by CSG, and CSG does not expect any similar purchase price adjustments in future periods.

Supplemental Data

The following information is provided to assist readers in further evaluating CSG’s performance (in thousands, except per share amounts):

	Three Months Ended September 30, 2006				Three Months Ended September 30, 2005
	Amount (1)		Per Diluted Share Impact (2)		Amount (1)		Per Diluted Share Impact (2)
Certain non-cash expenses:
Depreciation	$	2,600	$	0.04	$	2,324	$	0.03
Amortization of intangible assets		4,115		0.06		3,449		0.05
Stock-based employee compensation		3,085		0.04		3,129		0.04
Total	$	9,800	$	0.14	$	8,902	$	0.12

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October 24, 2006

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	Nine Months Ended September 30, 2006				Nine Months Ended September 30, 2005
	Amount (1)		Per Diluted Share Impact (2)		Amount (1)		Per Diluted Share Impact (2)
Certain key operating income items:
Former CEO retirement benefits	$	194	$	0.00	$	8,670	$	0.11
Restructuring charges		2,368		0.03		9		0.00
Total	$	2,562	$	0.03	$	8,679	$	0.11
Certain non-cash expenses:
Depreciation	$	7,651	$	0.10	$	7,416	$	0.10
Amortization of intangible assets		11,646		0.16		10,157		0.13
Stock-based employee compensation		9,114		0.12		9,853		0.13
Total	$	28,411	$	0.38	$	27,426	$	0.36

(1) These items (on a pretax basis) are calculated in accordance with GAAP, and are reflected as part of continuing operations in the accompanying Unaudited Condensed Consolidated Statements of Income.

(2) This represents the after tax impact to income from continuing operations on a per diluted share basis using CSG’s effective income tax rates from continuing operations of 35% and 37%, respectively, for the three and nine months ended September 30, 2006, and 36% for the three and nine months ended September 30, 2005.

Financial Condition and Cash Flows

Certain key balance sheet items as of the end of the indicated periods are as follows (in thousands):

	September 30, 2006		June 30, 2006		December 31, 2005
Cash, cash equivalents, and short-term investments	$	414,930	$	414,253	$	392,224
Net trade accounts receivable (3)		107,564		96,345		104,812

Certain key cash flow items for the indicated quarters then ended are as follows (in thousands):

	September 30, 2006			June 30, 2006		September 30, 2005
Cash Flows from Operating Activities:
Operations	$	31,489		$	29,358	$	26,245
Changes in operating assets and liabilities (4)		(2,937	)		9,393		(1,533	)
Net cash provided by operating activities	$	28,552		$	38,751	$	24,712

(3) The sequential quarterly increase of approximately $11 million relates to normal fluctuations in the timing of payments from certain clients at or around quarter end.

(4) The second quarter of 2006 changes in operating assets and liabilities relate primarily to a reduction in the accounts receivable balance from the previous quarter end, due to normal fluctuations in the timing of payments from certain clients at or around quarter end.

Stock Repurchase Program

In August 2006, CSG implemented its $350 million Rule 10b5-1 stock repurchase plan. During the third quarter of 2006, CSG repurchased 820,000 shares of its common stock at a total purchase price of $21.9 million (a weighted-average price of $26.69 per share), leaving $328.1 million of share repurchases still authorized under CSG’s Rule 10b5-1 plan as of September 30, 2006.

The number of shares repurchased each day under CSG’s Rule 10b5-1 plan is based upon predetermined factors that were established when CSG implemented its plan in August. Over time, there will likely be some

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October 24, 2006

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variability around the share repurchases based upon changing market conditions. CSG remains committed to completing its $350 million dollar Rule 10b5-1 stock repurchase plan, but the time period to complete the plan may extend beyond the original estimate of 12-15 months due to various market factors that may impact the pace at which CSG buys back its shares.

Remaining 2006 Financial Guidance

“For the fourth quarter of 2006, we are expecting revenues of between $95 million and $97 million, and income from continuing operations per diluted share of between 34 and 36 cents,” Randy Wiese, chief financial officer, said. “The expected decrease in revenues and earnings when compared to the third quarter of 2006 relates primarily to the closing of the Adelphia transaction. The impacts of the Adelphia transaction end in the third quarter, and as a result, our fourth quarter results will be the first full quarter in which the ongoing effect of these customer accounts under the Comcast and Time Warner contracts is reflected. The expected decrease in revenues between the third and fourth quarters related to the acquired Adelphia customer accounts is approximately $3.5 million.”

CSG’s financial guidance for continuing operations for the fourth quarter and full year 2006 is as follows (in millions, except for per share amounts and percentages):

	Fourth Quarter	Full Year
Revenues	$95 - $97	$381 - $383
Operating Margins	22%	23%
Earnings per Diluted Share	$0.34 -$0.36	$1.36 -$1.38
Income Tax Rate	35%	36% - 37%
Average Diluted Shares Outstanding	46.4	47.0
Cash Flow from Operations	$25 - $27	$114 – 116
Capital Expenditures	$2 - $4	$7 - $9

There are certain non-cash items included in CSG’s fourth quarter and full year 2006 income from continuing operations per diluted share guidance noted above. The following table outlines the expected impact of these items, and is provided to assist readers in further evaluating CSG’s expected financial performance for these periods (in thousands, except per share amounts):

	Fourth Quarter - 2006		Full Year – 2006
Certain non-cash expenses (5):
Depreciation	$	2,500	$	10,200
Amortization of intangible assets		4,300		15,900
Stock-based employee compensation		2,900		12,000
Total	$	9,700	$	38,100
Per diluted share impact (6)	$	0.14	$	0.52

(5) These items (on a pretax basis) are calculated in accordance with GAAP.

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October 24, 2006

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(6) This represents the after tax impact to income from continuing operations on a per diluted share basis using CSG’s estimated effective income tax rates from continuing operations as noted above.

Conference Call

CSG will host a one-hour conference call on Tuesday, October 24, at 5 p.m. EDT, to discuss CSG’s third quarter results. The call will be carried live and archived on the Internet. A link to the conference call is available at www.csgsystems.com.

Additional Information

For additional information about CSG, please visit CSG’s web site at www.csgsystems.com. Additional information can be found in the Investor Relations section of the web site.

About CSG Systems International

Headquartered in Englewood, Colorado, CSG Systems International (Nasdaq: CSGS) is a leading provider of outsourced billing, customer care and print and mail solutions and services supporting the North American cable and direct broadcast satellite markets. CSG’s solutions support some of the world’s largest and most innovative providers of bundled multi-channel video, Internet, voice and IP-based services. CSG’s unique combination of solutions, services and expertise ensure that cable and satellite operators can continue to rapidly launch new service offerings, improve operational efficiencies and deliver a high-quality customer experience in a competitive and ever-changing marketplace. CSG is a S&P Midcap 400 company. For more information, visit our website at www.csgsystems.com.

Safe-Harbor Statement

This news release contains forward-looking statements as defined under the Securities Act of 1933, as amended, that are based on assumptions about a number of important factors and involve risks and uncertainties that could cause actual results to differ materially from what appears in this news release. These factors include, but are not limited to: 1) CSG’s ability to continue to perform satisfactorily and maintain good customer relations with its four largest clients, Comcast Corporation, Echostar Communications, Time Warner, Inc., and Charter Communications, which combined make up approximately 70% of CSG’s revenues; 2) the continued acceptance of CSG’s Advanced Convergent Platform and its related products and services; 3) CSG’s ability to enhance current products and develop new technology that will retain existing clients and capture new market share; 4) significant forays into new markets, which may prove costly and unprofitable; 5) the degree to which CSG’s expectations of market penetration and consumer acceptance of advanced IP services prove true — and even if realized, CSG’s ability to meet the billing and customer care needs of those markets; 6) client consolidation, which has decreased the number of potential buyers for many of CSG’s products and services; 7) CSG’s ability to renew contracts and sell additional products and services to existing and new clients; 8) CSG’s ability to successfully deliver on lengthy and/or complex implementation projects, which by their nature, carry much more risk, and 9) CSG’s ability to successfully integrate and manage acquired businesses or assets in order to achieve the expected strategic, operating and financial goals established for such acquisitions. This list is not exhaustive and readers are encouraged to review the additional risks and important factors described in CSG’s reports on Forms 10-K and 10-Q and other filings made with the SEC.

FINANCIALS TO FOLLOW

CSG Systems International, Inc.

October 24, 2006

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CSG SYSTEMS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS-UNAUDITED

(in thousands, except share and per share amounts)

	September 30, 2006			December 31, 2005
ASSETS
Current assets:
Cash and cash equivalents	$	282,665		$	346,113
Short-term investments		132,265			46,111
Total cash, cash equivalents and short-term investments		414,930			392,224
Trade accounts receivable-
Billed, net of allowance of $1,143 and $1,324		107,564			104,812
Unbilled and other		5,951			6,660
Deferred income taxes		9,496			9,565
Income taxes receivable		—			5,032
Other current assets		5,899			17,145
Total current assets		543,840			535,438
Property and equipment, net of depreciation of $67,824 and $61,333		19,014			21,143
Software, net of amortization of $32,676 and $31,945		8,038			—
Goodwill		14,228			623
Client contracts, net of amortization of $78,533 and $68,634		35,868			41,661
Deferred income taxes		24,472			33,275
Other assets		7,341			6,236
Total assets	$	652,801		$	638,376
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Client deposits	$	25,418		$	19,651
Trade accounts payable		15,616			17,306
Accrued employee compensation		21,392			32,447
Deferred revenue		12,255			9,575
Income taxes payable		3,254			—
Other current liabilities		14,269			15,783
Total current liabilities		92,204			94,762
Non-current liabilities:
Long-term debt		230,000			230,000
Deferred revenue		8,777			8,943
Other non-current liabilities		4,039			6,341
Total non-current liabilities		242,816			245,284
Total liabilities		335,020			340,046
Stockholders’ equity:
Preferred stock, par value $.01 per share; 10,000,000 shares authorized; zero shares issued and outstanding		—			—
Common stock, par value $.01 per share; 100,000,000 shares authorized; 47,406,694 shares and 47,886,480 shares outstanding		614			601
Additional paid-in capital		334,341			316,764
Treasury stock, at cost, 14,019,996 shares and 12,290,485 shares		(339,744	)		(296,976	)
Accumulated other comprehensive income:
Unrealized gain on short-term investments, net of tax		25			71
Accumulated earnings		322,545			277,870
Total stockholders’ equity		317,781			298,330
Total liabilities and stockholders’ equity	$	652,801		$	638,376

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CSG SYSTEMS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME-UNAUDITED

(in thousands, except per share amounts)

	Three Months Ended						Nine Months Ended
	September 30, 2006			September 30, 2005			September 30, 2006			September 30, 2005
Revenues:
Processing and related services	$	90,272		$	87,478		$	264,408		$	259,390
Software, maintenance and services		8,178			6,614			22,055			24,728
Total revenues		98,450			94,092			286,463			284,118
Cost of revenues:
Processing and related services		44,867			42,453			129,457			126,127
Software, maintenance and services		5,829			4,601			15,555			14,647
Total cost of revenues		50,696			47,054			145,012			140,774
Gross margin (exclusive of depreciation)		47,754			47,038			141,451			143,344
Operating expenses:
Research and development		12,097			9,009			32,872			24,865
Selling, general and administrative		10,449			11,467			32,037			41,119
Depreciation		2,600			2,324			7,651			7,416
Restructuring charges		78			3			2,368			9
Total operating expenses		25,224			22,803			74,928			73,409
Operating income		22,530			24,235			66,523			69,935
Other income (expense):
Interest expense		(1,862	)		(1,887	)		(5,650	)		(5,766	)
Interest and investment income, net		6,046			787			15,993			2,158
Other, net		—			8			(52	)		11
Total other		4,184			(1,092	)		10,291			(3,597	)
Income from continuing operations before income taxes		26,714			23,143			76,814			66,338
Income tax provision		(9,350	)		(8,331	)		(28,379	)		(23,880	)
Income from continuing operations		17,364			14,812			48,435			42,458
Discontinued operations:
Income (loss) from discontinued operations, includes net pretax loss on disposal in 2006 of $6,000		(6,555	)		694			(6,555	)		(14,423	)
Income tax (provision) benefit		2,795			(2,004	)		2,795			2,595
Discontinued operations, net of tax		(3,760	)		(1,310	)		(3,760	)		(11,828	)
Net income	$	13,604		$	13,502		$	44,675		$	30,630
Basic earnings (loss) per common share:
Income from continuing operations	$	0.37		$	0.32		$	1.04		$	0.89
Discontinued operations, net of tax		(0.08	)		(0.03	)		(0.08	)		(0.25	)
Net income	$	0.29		$	0.29		$	0.96		$	0.64
Diluted earnings (loss) per common share:
Income from continuing operations	$	0.37		$	0.31		$	1.03		$	0.87
Discontinued operations, net of tax		(0.08	)		(0.03	)		(0.08	)		(0.24	)
Net income	$	0.29		$	0.28		$	0.95		$	0.63
Weighted-average shares outstanding:
Basic		46,549			47,303			46,659			48,166
Diluted		47,154			47,983			47,228			48,816

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CSG SYSTEMS INTERNATIONAL, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS-UNAUDITED

(in thousands)

	Nine Months Ended
	September 30, 2006			September 30, 2005
Cash flows from operating activities:
Net income	$	44,675		$	30,630
Adjustments to reconcile net income to net cash provided by operating activities -
Depreciation		7,651			11,209
Amortization		12,550			21,405
Restructuring charge for abandonment of facilities and impairment of assets		401			3,570
Net pretax loss on disposition of discontinued operations		6,000			—
Gain on short-term investments		(567	)		(306	)
Deferred income taxes		9,740			1,772
Excess tax benefits from stock-based compensation awards		(2,845	)		1,138
Stock-based employee compensation		9,114			12,678
Changes in operating assets and liabilities:
Trade accounts and other receivables, net		(235	)		(1,001	)
Other current and non-current assets		(1,807	)		(1,179	)
Income taxes payable/receivable		11,128			5,893
Trade accounts payable and accrued liabilities		(8,103	)		3,384
Deferred revenue		1,579			(2,333	)
Net cash provided by operating activities		89,281			86,860
Cash flows from investing activities:
Net payments from the disposition of discontinued operations		(6,436	)		—
Purchases of property and equipment		(5,198	)		(9,356	)
Proceeds from sale of aircraft held for sale		7,376			—
Purchases of short-term investments		(183,716	)		(57,159	)
Proceeds from sale/maturity of short-term investments		98,100			40,038
Acquisition of business, net of cash acquired		(21,533	)		(487	)
Acquisition of and investments in client contracts		(6,549	)		(5,508	)
Net cash used in investing activities		(117,956	)		(32,472	)
Cash flows from financing activities:
Proceeds from issuance of common stock		7,431			3,170
Repurchase of common stock		(44,568	)		(61,081	)
Payments on acquired equipment financing		(481	)		—
Excess tax benefits from stock-based compensation awards		2,845			—
Payments of deferred financing costs		—			(87	)
Net cash used in financing activities		(34,773	)		(57,998	)
Effect of exchange rate fluctuations on cash		—			(2,468	)
Net decrease in cash and cash equivalents		(63,448	)		(6,078	)
Cash and cash equivalents, beginning of period		346,113			133,551
Cash and cash equivalents, end of period	$	282,665		$	127,473
Supplemental disclosures of cash flow information:
Cash paid during the period for -
Interest	$	3,195		$	3,195
Income taxes		5,265			15,491