Scitex (SCIX)

[midastouch017]

Scitex to Sell its Holdings in Objet Geometries
Tuesday May 24, 5:14 am ET


TEL AVIV, Israel, May 24 /PRNewswire-FirstCall/ -- Scitex Corporation Ltd. (NASDAQ: SCIX, TASE: SCIX) announced that it has agreed to sell all of its holdings in Objet Geometries Ltd. (Objet) to several shareholders of Objet for $3.0 million in cash, payable in two instalments. Additional contingent consideration will be paid to Scitex if Objet undergoes specified "exit events" prior to the end of 2007. The closing of the sale is subject to customary terms and conditions. The book value of Scitex's investment in Objet was recorded at $19,000 on Scitex's balance sheet as of March 31, 2005, and such investment is accounted for under the equity method.
Scitex Corporation Ltd.

Scitex Corporation Ltd.'s shares trade on Nasdaq and The Tel Aviv Stock Exchange under the symbol "SCIX". For more information, please visit our Web site at www.scitex.com.

http://biz.yahoo.com/prnews/050524/uktu004.html?.v=13

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