Sapiens International Corporation N.V. (SPNS)

[midastouch017]

Sapiens Transfers to The Nasdaq Capital Market
Wednesday September 28, 4:33 am ET


RESEARCH TRIANGLE PARK, North Carolina, September 28 /PRNewswire-FirstCall/ -- Sapiens International Corporation N.V. (NASDAQ: SPNS , TASE: SPNS) today announced that, effective as of Wednesday, September 28, 2005, the shares of its common stock will be listed on The Nasdaq Capital Market (formerly the Nasdaq SmallCap Market), instead of the Nasdaq National Market where its common stock is currently listed.
The company's common stock will continue to trade with the symbol SPNS.

About Sapiens International

Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a member of the Formula Group (NASDAQ: FORTY and TASE: FORT), is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations to adapt quickly to change. Sapiens' innovative solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through its subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific, and has partnerships with market leaders such as IBM and EDS. Sapiens' clients include AXA, Allianz Group, Liverpool Victoria, Norwich Union, OneBeacon, Principal Financial Group, Abbey National, ING, Menora and Occidental Fire & Casualty among others.

http://biz.yahoo.com/prnews/050928/ukw008.html?.v=30

Dubi