Crystal Systems Solutions announces the Successful Completion of the Data Transformation project at Banco Espirito Santo of Portugal.

Business/Technology Editors

HERZLIA, Israel--(BUSINESS WIRE)--Feb. 25, 2002

The project was managed by Cap Gemini Ernst & Young Portugal

Crystal Systems Solutions (NASDAQ: CRYS) recently completed the data migration and consolidation project at Banco Espirito Santo (BES) of Portugal, using its Crysware for Transformation product. The project, managed by Cap Gemini Ernst & Young Portugal, was a result of the merger of operations between BES and of Banco Internacional de Credito (BIC).

Consolidating all the back office operations (including the two IT departments) is part of the BES overall plan to rationalize, modernize and improve their banking services. Crystal's extensive knowledge and expertise in all aspects of migration of databases provided BES with the confidence it required to undertake this a complex task. Crystal's Crysware for Transformation mapped both source and target systems, providing a layout of the business rules used on both ends. Source VMS, Rdb and RMS files where then edited to match the target business rules and transferred to target's MVS and Unix systems. Over 180 DB2 tables (130 tables plus 50 views) and 30 VSAM files were migrated to MVS DB2 and several tables to Unix Sybase.

"We never doubted that we had a very challenging project in face of us, with a very tight schedule and a lot of work to do. Fortunately we could gather a very knowledgeable and professional team that worked closed together and did it!" Said Mr. Jose Granado, Assessor do Conselho de Administracao at BES Group.

"Our major concern, in the beginning, was that none of us (on the Bank side) had any previous experience of such a demanding data migration job and we should completely rely on your company. Thank God, Crystal proved to have the expertise that you claimed and did it very well and on time. Congratulations to your engineers and yourself."

"Working with the Cap Gemini Ernst & Young team at BES, was a privilege" Says Chanan Weiss, CEO of Crystal Systems Solutions. "Our collaboration with CGE&Y Portugal provides our clients with the technology and management skills required to successfully meet their modernization objectives. This winning formula has been in place for quite some time and we are glad to see our customers profit from it".

According to Francisco Duarte, Country Manager of Cap Gemini Ernst & Young Portugal "This project is a reference to us in many ways: we worked as an integrator in a multi-skilled project involving process management, people management, and technology. The success of this 10 months intensive work demanded a very strict and results oriented project management, and this could not have been achieved without the close collaboration between BES, Crystal and CGE&Y teams of specialists."

About BES

Banco Espirito Santo's roots go back to the bank's creation in 1869 by Jose Maria do Espirito Santo Silva. From its foundation, Banco Espirito Santo has been linked to the Espirito Santo family, enjoying a solid tradition in the banking business. After a period of nationalization (that began in 1975), the Espirito Santo Financial Group, together with Credit Agricole, assured control of the Bank in 1991/92. Implementing an aggressive organic growth strategy, the Bank initiated an administrative re-organization of its non-commercial departments, launched an extensive technological modernization program and focused efforts on improving the quality of retail banking services. The Group also set up various specialized units, notably the Banco Espirito Santo de Investimento (investment bank) in 1993.

About Cap Gemini Ernst & Young

Cap Gemini Ernst & Young is one of the largest management and IT consulting firms in the world. The company offers management and IT consulting services, systems integration, and technology development, design and outsourcing capabilities on a global scale to help businesses continue to implement growth strategies and leverage technology in the new economy. The organization employs about 57,000 people worldwide and reports global revenues of about 8.5 billion euros (2000 pro forma).

More information about individual service lines, offices and research is available at www.cgey.com.

About Crystal

Crystal Systems Solutions Ltd. (NASDAQ: CRYS) is a global provider of software products and tools for the modernization of existing legacy applications. Crystal's solutions enhance the software functionality within the corporate environment while efficiently deploying updated business processes and technologies. It provides comprehensive enterprise products spanning mainframe, midrange, and client/server computing platforms, enhancing its expertise through the successful completion of projects for prestigious, Fortune 1000 organizations, establishing solid credibility and achieving global recognition and presence. Crystal is totally committed to supporting its customers, both directly and via its partners, offering end-to-end solutions through consultancy, assistance, and service in conjunction with its variety of proprietary software products. Crystal Systems Solutions is a member of the Formula Group (NASDAQ: FORTY), the largest Israeli IT group.