Formula Systems (FORTY)

[midastouch017]

Magic Software Announces Appointment of New Vice President of Marketing and Corporate Strategy
Thursday June 30, 7:00 am ET


OR YEHUDA, Israel, June 30 /PRNewswire-FirstCall/ -- Magic Software Enterprises (Nasdaq: MGIC - News), a leading provider of state-of-the-art business integration and development technology, announced today the appointment of Avigdor Luttinger as the Company's Vice President of Marketing and Corporate Strategy, effective immediately. Luttinger is replacing Gil Trotino, who is leaving the company to pursue other opportunities.
One of the originators of Magic, Avigdor Luttinger headed Software Development at Mashov Computers during the initial creation of Magic in 1984 prior to spinning it off, and then relocated to Geneva in 1985 to launch its international distribution. Subsequently, Avigdor left Mashov and worked, amongst others, as a Consultant with Enterprise Software vendors including iXOS, Open Market, Vignette and webMethods. Avigdor rejoined Magic in 2002 as the Head of the iBOLT Program, driving the definition, launch and initial successes of iBOLT. In addition to this role, Luttinger has for the last year lead Magic's Business Development efforts worldwide.

"Avigdor's contributions in directing iBOLT and his successes in Business Development with key strategic alliances such as SAP, prove his expertise and strategic ability to lead the Company's worldwide marketing operations," said Menachem Hasfari, CEO of Magic Software. "The management believes that Avigdor will be able to guide the companies marketing and strategic direction at this critical juncture and will successfully lead the efforts to insure iBOLT's placement as a leader in the integration field."

Luttinger holds an MBA from INSEAD in France and a Masters degree in Computer Sciences from the University of Lyon.

About Magic Software Enterprises

Magic Software Enterprises, a subsidiary of Formula Systems (Nasdaq: FORTY - News), develops, markets and supports software development, deployment and integration technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services are available through a global network of subsidiaries, distributors and Magic solutions partners in approximately 50 countries. The Company's EMEA HQ offices are located in the Netherlands, Pelmolen 17 3994XX Houten, 0031-30.6566266. The company's North American subsidiary is located at 17310 Redhill Avenue #270, Irvine, CA 92614-5637, telephone [phone], fax [phone]. http://www.magicsoftware.com.

http://biz.yahoo.com/prnews/050630/lnth003.html?.v=10

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