UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
John H. Friedman
Easton Capital Corp.
415 Madison Avenue, 20th Floor
New York, NY 10017
2. Issuer Name and Ticker or Trading Symbol
Comverse Technology, Inc. -- CMVT
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
07/31/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
(x) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(x) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
- - ----------------------------------------------------------------------------------------------------------------------------------|
Common Stock |7-31- | X | | 1,000 | A | $13.375 | 6,000 | D | |
|98 (1)| | | | | | | | |
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Common Stock |7-31- | X | | 6,000 | A | $18.00 | | D | |
|98 (1)| | | | | | | | |
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Common Stock |7-31- | S | | 7,000 | D | $55.00 (2)| | D | |
|98 (1)| | | | | | | | |
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<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | | | | 6,000 | | |
Stock Option |$13.375 |7-31-| X | | 1,000 | D |1-1- |12-31|Common Stock|1,000 | | | D | |
(right to buy) | |98 | | | | |96 |00 | | | | | | |
| |(1) | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
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| | | | | | | | | | | | | | |
Stock Option |$18.00 |7-31-| X | | 6,000 | D |1-1- |12-31|Common Stock|6,000 | | | D | |
(right to buy) | |98 | | | | |97 |01 | | | | | | |
| |(1) | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
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</TABLE>
Explanation of Responses:
(1) These options were executed, and these shares of Common Stock were sold on
some date or dates between July 31,1998 and August 6, 1998, inclusive.
(2) These shares of Common Stock were sold in the open market at various prices
up to $55.00 per share.
SIGNATURE OF REPORTING PERSON
/s/John H. Friedman
- - -------------------
John H. Friedman
DATE
08/07/98
