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PRESS RELEASE
MAGIC SOFTWARE ANNOUNCES GUY BERNSTEIN TO REPLACE DAVID ASSIA
AS CHAIRMAN OF THE BOARD
OR YEHUDA, ISRAEL, NOVEMBER 08, 2007 - Magic Software Enterprises Ltd. (NASDAQ:
MGIC), a leading provider of business integration and application development
technology, today announced that it has appointed Guy Bernstein as its chairman
of the board.
Mr. Bernstein replaces David Assia, who served as chairman of the board of Magic
Software from the company's inception until 2000 and then resumed that role
three years ago.
David Assia is a co-founder of Magic Software. From 1986 until September 1997
and from 2005 until July 2007, he also served as the company's chief executive
officer.
Mr. Assia said, "I was privileged to co-found this wonderful company and lead
Magic as we turned the company into a leading provider of business integration
and application development technology it is today. I am gratified that I had
the opportunity to lead the company through a very exciting period in its
history, launching the first Israeli software company's IPO on NASDAQ."
Mr. Bernstein commented, "I am pleased to have the opportunity to work closely
with Magic again. This company is at an exciting stage in its development. I'm
confident Magic will continue to grow in the right direction and bring value to
its customers and shareholders."
Eitan Naor, President and CEO of Magic Software, said, "I would like to thank
David Assia for the role he has played in Magic's business achievements. During
his tenure as CEO and chairman of the board, the company has grown and become a
leading provider of business integration and application development technology
globally."
"As a board member, and previously the chief financial officer at Magic
Software, Guy Bernstein brings in-depth knowledge of the company and the market.
I look forward to working with Guy and the management team to lead the company
to success," added Naor.
Guy Bernstein joined the Emblaze Group as Chief Financial Officer and member of
the Board of Directors in April 2004 and was appointed Chief Executive Officer
in December 2006. Prior to joining Emblaze, Mr. Bernstein served as Chief
Financial and Operations Officer of Magic Software, a position he held since
1999.
ABOUT MAGIC SOFTWARE ENTERPRISES
Magic Software Enterprises Ltd. (NASDAQ: MGIC) has been a leader in enterprise
application development, deployment and integration technology for more than two
decades. The company's service-oriented (SOA) platforms are used by companies
worldwide to develop, maintain, and deploy both legacy and new business
solutions, while integrating these applications across both internal and
external, heterogeneous environments. Magic Software's platform-independent
methodology lets companies achieve agility by quickly assembling composite
applications, allowing programmers to create services and architects and
business analysts to orchestrate and reuse these services to enable business
processes. Through partnerships with industry leaders such as IBM and SAP and
more than 2500 ISVs worldwide, Magic Software technology is used by more than
1.5 million customers around the globe.
Magic Software is a subsidiary of the Formula Systems and Emblaze Group of
companies.
For more information on Magic Software Enterprises Ltd. and its products and
services, visit www.magicsoftware.com.
Except for the historical information contained herein, the matters discussed in
this news release include forward-looking statements that may involve a number
of risks and uncertainties. Actual results may vary significantly based upon a
number of factors including, but not limited to, risks in product and technology
development, market acceptance of new products and continuing product
conditions, both here and abroad, release and sales of new products by strategic
resellers and customers, and other risk factors detailed in the Company's most
recent annual report and other filings with the Securities and Exchange
Commission.
CONTACT:
DAVID ZIGDON, CFO
Magic Software Enterprises Ltd.
Tel. +972 (0)3 538 9600
dzigdon@magicsoftware.com
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE
REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED, THEREUNTO DULY AUTHORIZED.
MAGIC SOFTWARE ENTERPRISES LTD.
(Registrant)
BY /S/ EITAN NAOR
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Eitan Naor
President and CEO
Date: November 8, 2007