Board of Directors

The Articles of Association, as amended in 2003, provide for a board of directors of not less than two, and not more than eight members. This can be modified by shareholders.

Each director, with the exception of outside directors who are elected to serve for set periods of time, is elected to serve until the next annual general meeting of shareholders and until his successor has been elected. A vacancy in our board, including a vacancy resulting from an enlargement of the board by resolution of the board of directors, may be filled by a vote of a majority of the directors then in office, even if less than a quorum. A director elected by the board as a result of such vacancy shall be elected to hold office until the next annual meeting of our shareholders. Our officers serve at the discretion of the board of directors.

Yanki Margalit - Chairman of the Board and Chief Executive Officer
Jacob (Yanki) Margalit founded our company in 1985 and has served as our Chairman of the Board and Chief Executive Officer since 1987. Mr. Margalit served as our Chief Financial Officer from 1987-1993 and has served as a director since 1985.

David Assia – Director
David Assia has served as a director of our company since 1993. Mr. Assia is a co-founder of Magic Software Enterprises Ltd. and Mashov Computers Ltd. Mr. Assia currently serves as the Executive Chairman of Magic Software. From 1983 to 1996, Mr. Assia was the Chief Executive Officer and Chairman of Magic Software. Mr. Assia is also a member of the boards of directors of Radview Software Ltd, Babylon Ltd. and the Weizmann Institute of Science. Mr. Assia serves as the Vice-Chairman of the Israel Software Houses Association. Mr. Assia holds a B.A. and an M.B.A. from Tel Aviv University.

Menahem Gutterman – Director
Dr. Menahem Gutterman has been an outside director since December 31, 2000. Dr. Gutterman is a Senior Managing Partner of Atid Capital Partners.Dr. Gutterman has served as Executive Vice President and Head of the Operations Information Systems Division of Israeli Discount Bank Ltd since 1992. Dr. Gutterman served as General Manager's Assistant at Israel Discount Bank Ltd. from 1981-1992. Prior to joining Israel Discount Bank Ltd., Dr. Gutterman served as Vice President of Sales and Services at Elscint Ltd., as well as Managing Director of Clal Systems. Until 2000, Dr. Gutterman served as a senior lecturer at Tel Aviv University, Faculty Management, and School of Business Administration. Dr. Gutterman holds a D.Sc. in Mathematics.

Orna Berry – Director
Dr. Orna Berry has been an outside director since December 31, 2001. Dr. Berry is a venture partner in Gemini Israel Funds Ltd. and since 2000 has served as the active Chairperson in both Lambda Crossing, Ltd., and in Riverhead Networks, Inc., which was sold to Cisco in April 2004.Dr. Berry served as the Chief Scientist of the Ministry of Industry and Trade of the Government of Israel from 1997-2000 and Co-President of ORNET Data Communications Technologies Ltd. from 1993-1997. From 1992-1993, Dr. Berry served as a consultant to Intel Communications Division and Elbit Systems, Ltd. Dr. Berry received her Ph.D. in Computer Science from the University of Southern California and M.A. and B.A. degrees in Statistics and Mathematics from Tel Aviv University and Haifa University.

Dany Margalit - Director
Dany Margalit joined our company in 1987 as Research and Development Manager and has served as a director since 1994. In 1989, Mr. Margalit was appointed Executive Vice President, Research and Development. In 1998, he was appointed Executive Vice President, Technologies. Mr. Margalit holds a B.Sc. in Mathematics and Computer Science from Tel Aviv University.