Exhibit 99.1

         Amdocs Prices $500 Million Offering of Senior Convertible Notes

ST. LOUIS, MO - May 24, 2001 - Amdocs Limited (NYSE: DOX) today announced
further details regarding the terms of the private placement of 7-year 2.0%
Senior Convertible Notes. Gross proceeds to Amdocs from the sale of the notes,
which were issued at par, were approximately $500 million, with up to another
$100 million in proceeds if the initial purchaser's option to acquire additional
notes is exercised within the allotted 30 days. The notes are convertible into
Ordinary Shares at a conversion rate of 10.86 shares per $1,000.00 principal
value. This represents a conversion premium of 43% to yesterday's $64.40 closing
price of Amdocs' Ordinary Shares on the New York Stock Exchange.

The offering allows Amdocs to raise capital at attractive terms. While the
Company has no immediate needs for these funds, the proceeds may be used for
future possible strategic opportunities including acquisitions, as well as other
general corporate uses.

The notes can be put to Amdocs on the third and fifth anniversary of the issue
date at par and can be repaid in cash or stock at Amdocs' option. The notes are
callable by Amdocs any time after the fifth anniversary of the issue date, at
par.

The transaction is expected to close on May 30, 2001 subject to satisfaction of
customary closing conditions. Amdocs has agreed to file a registration statement
within 90 days of closing.

This news release does not constitute an offer to sell or the solicitation of an
offer to buy the securities. Any offers of the securities will be made only by
means of a private offering memorandum. The securities offered have not yet been
and will not be registered under the Securities Act of 1933 and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.

Statements in this release that contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 include, but are
not limited to, statements regarding the timing of and conditions of closing and
the amount and use of proceeds. Such forward-looking statements are subject to
certain risks and uncertainties, as disclosed by Amdocs from time to time in its
filings with the Securities and Exchange Commission. As a result of these
factors, Amdocs' actual results may differ materially from those indicated or
implied by such forward-looking statements.

Amdocs is a leading provider of CRM, billing and order management solutions for
the communications industry. Amdocs has an unparalleled success record in
project delivery of its mission-critical products. With human resources of more
than 8,150 information systems professionals, Amdocs supports a global customer
base. For more information visit our Web site at www.amdocs.com

For immediate information contact:

Amdocs
Thomas G. O'Brien
Treasurer and Director of Investor Relations
Amdocs Limited
314/212-8328
E-mail:dox_info@amdocs.com