BluePhoenix Completes Global IT Assessment for Alecta, The Largest Pension Provider in the Nordic Region; Alecta Uses IT Discovery for Rapid Assessment of MVS Software Components.Business Editors/High-Tech Writers COPENHAGEN, Denmark & HERZLIA, Israel--(BUSINESS WIRE)--April 19, 2004 BluePhoenix Solutions (Nasdaq:BPHX), the leader in Enterprise IT Modernization, announced the formal completion of its latest Global IT Assessment project with Alecta, the largest occupational pension company in the Nordic region. The fast-track project examined the MVS (Multiple Virtual Storage) Introduced in 1974, the primary operating system used with IBM mainframes (the others are VM and DOS/VSE). MVS is a batch processing-oriented operating system that manages large amounts of memory and disk space. mainframe environment at Alecta using the BluePhoenix(TM) IT Discovery solution. "As part of its long-term IT modernization strategy, Alecta needed a complete assessment of every MVS asset on their system," said Eliezer Harkavi, vice president Offshore Services and Delivery. "Our IT Discovery tool, combined with the related implementation services, provided a good solution for the examination of the enterprise and the rapid generation of reports that detailed every program and line of code in the system." The solution is based on BluePhoenix proprietary IT Discovery tool that enables automation of large portions of the global assessment process, reducing the project's duration, freeze time, and its overall cost. The project covered a great number of lines of code The statements and instructions that a programmer writes when creating a program. One line of this "source code" may generate one machine instruction or several depending on the programming language. A line of code in assembly language is typically turned into one machine instruction. and was done on COBOL COBOL: see programming language. COBOL in full Common Business-Oriented Language. High-level computer programming language, one of the first widely used languages and for many years the most popular language in the business community. and PL1, the dominant language in the Alecta system. The result was more than 80 reports listing all software components, describing the relationships between shared components, and performing custom analysis designed exclusively for the Alecta environment. "With more than 27,000 customer companies using Alecta services, it is critical for us to keep our efficiencies high and our operating costs among the lowest in Europe," said Ann Tapper, CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. at Alecta. "This global assessment and IT modernization project gives us better visibility and more control over the entire IT infrastructure." With 800 employees and more than SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 300 billion under management, Alecta is the largest provider of occupational pensions (ITP ITP - Intent to Package ) in the Nordic region. BluePhoenix is the industry leader in developing unique solutions that accelerate the process of modernizing and converting large enterprise-wide IT systems from legacy software to cutting-edge technology environments. Integration services were provided by the Arete a·rête n. A sharp, narrow mountain ridge or spur. [French, from Old French areste, fishbone, spine, from Late Latin arista, awn, fishbone, from Latin, awn. Group of Stockholm. About BluePhoenix Solutions BluePhoenix Solutions leads the IT Modernization market by developing unique solutions that enable companies to automate the process of modernizing and upgrading their mainframe and distributed IT infrastructure, thus quickly and cost-effectively extending the ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). of their existing IT systems. The company's comprehensive suite of tools and services (including technology for Understanding, Migration, Transformation and Redevelopment) reduces the cost of renovation and speeds up the renewal process. BluePhoenix has 11 offices throughout the world, including locations in the US, UK, Denmark, Germany, Italy, The Netherlands, and Israel. The company's major shareholder is Formula Systems (Nasdaq:FORTY), an international Information Technology company principally engaged in providing software products, solutions, and services in various vertical markets. For more information, visit www.bphx.com. About Alecta Alecta was founded in the spring of 2001, but the organization dates back to 1917 and the establishment of Sveriges Privatanstalldas Pensionskassa (Sweden's private employees' pension organization). In 2001, the firm sold the SPP (1) (Scalable Parallel Processor) A multiprocessing computer that can be upgraded by adding more CPUs. (2) (Standard Parallel Port) The Centronics parallel port that was used on the first PCs. brand along with two subsidiaries, and established Alecta focused exclusively on occupational pensions. Today, the firm manages pension programs for more than 27,000 private companies making it the largest provider in the Nordic region. SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : Certain statements contained in this release may be deemed forward-looking statements, with respect to plans, projections, or future performance of the Company, the occurrence of which involves certain risks and uncertainties that could cause actual plans to differ materially from these statements. These risks and uncertainties include but are not limited to: market demand for the Company's tools, successful implementation of the Company's tools, competitive factors, the ability to manage the Company's growth, the ability to recruit and retrain re·train tr. & intr.v. re·trained, re·train·ing, re·trains To train or undergo training again. re·train additional software personnel, and the ability to develop new business lines. 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