Magic Software Reports that Mr. Eitan Naor has ceased to serve
as its President and CEO
Or Yehuda, Israel, April 30, 2008 – Magic Software Enterprises Ltd. (NASDAQ: MGIC), a leading provider of business
integration and application development technology, today announced that Mr. Eitan Naor has ceased to serve as the
Company’s President and CEO. Mr. Guy Bernstein has been appointed to serve as the Company’s Active Chairman.
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. For more information on Magic Software Enterprises Ltd. and its products and
services, visit www.magicsoftware.com .
Magic Software is a subsidiary of the Formula Systems and Emblaze Group of companies.
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 a