Data Systems & Software Inc. announces restructuring of Mofet Management.MAHWAH, N.J.--(BUSINESS WIRE)--Feb. 19, 1997-- FIBI FIBI Filed But Impracticable to Transmit (National Weather Service) Holding and Menorah menorah Multibranched candelabra used by Jews during the festival of Hanukkah. It holds nine candles (or has nine receptacles for oil). Eight of the candles stand for the eight days of Hanukkah—one is lit the first day, two the second, and so on. Insurance Each Purchase 25% Data Systems & Software Inc. (NASDAQ/NMS: DSSI DSSI Diversified Scientific Services, Inc. DSSI Digital Storage Systems Interconnect DSSI Dead Sea Scrolls Institute (Trinity Western University, Canada) DSSI Digital Small Storage Interconnect ) today announced that its Decision Systems Israel Ltd. subsidiary ("DSI (Dynamic Systems Initiative) An umbrella term for a suite of Microsoft products that help manage the Windows environment in large enterprises. DSI was introduced in 2003. "), has purchased interests in Mofet Venture Capital Fund (1992) Management Ltd. ("Mofet Management") that it did not previously own, and resold a 25%-interest to FIBI Holding Company Ltd., a company that is controlled by the Safra family and whose investments include the First International Bank of Israel The Bank of Israel (Hebrew: בנק ישראל) is the central bank of Israel. The Bank of Israel is located in Jerusalem, with a branch office in Tel Aviv. , and a 25%-interest to the Menorah Insurance Company Ltd., one of Israel's leading insurance companies. DSI will retain a 50% interest in Mofet Management. Mofet Management is the manager of Mofet Israel Technology Fund Ltd. ("Mofet Fund"), a publicly-held venture capital fund traded on the Tel Aviv Stock Exchange Tel Aviv Stock Exchange Israel's only stock exchange. , which specializes in equity investments in high-tech Israeli companies, with an emphasis on the software and communications sectors. Mofet Management provides the Mofet Fund with executive, administrative and investment evaluation services, and also provides advisory and support services to the Mofet Fund's portfolio companies. DSI, a leading Israeli software and systems company whose shares are traded on the Tel Aviv Stock Exchange, is one of the founding partners of Mofet Management, and has applied its expertise to the selection of investments for the Mofet Fund. To date, the Mofet Fund has invested approximately $18 million in 23 high-tech companies. Two of the Fund's portfolio companies, Vocaltec Ltd. (NASDAQ/NMS:VOCLF) and Orckit Communications Ltd. (NASDAQ/NMS:ORCTF), have had successful public offerings. Three others, Nicecom, Shany Computers and Scorpio, have been sold to U.S. corporations at a substantial profit. Data Systems & Software Inc. provides consulting and development services for computer software and systems, principally in the area of state-of-the-art, embedded real-time systems. The Company is also developing and has commenced marketing a number of proprietary products intended for sale to commercial and military markets worldwide. In addition, the Company, through its Tower Semiconductor Ltd. subsidiary, manufactures integrated circuits on silicon wafers using its advanced production capability and the proprietary designs of its customers. The Company's operations are conducted primarily in Israel through Tower, which is listed on NASDAQ/NMS, and Decision Systems Israel Limited, a software and systems company which is listed on the Tel Aviv Stock Exchange. CONTACT: George Morgenstern, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. DATA SYSTEMS & SOFTWARE INC. 201-529-2026; 201-529-3163 (Fax) or Stephen D. Axelrod, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. Mona J. Walsh Susan T. Bolen (Media) WOLFE AXELROD ASSOCIATES 212-370-4500; 212-370-4505 (Fax) e-mail: 76015.440@compuserve.com |
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