Magic Software Shares to Be Added to the Tel Aviv-75 Stock Index and TelTek-15 Stock Index.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Dec. 18, 2003 Listing Widens Potential Investor Base for Company's Equities With Local and Foreign Institutional Investors Foreign Institutional Investor (FII) is used to denote an investor - mostly of the form of an institution or entity, which invests money in the financial markets of a country different from the one where in the institution or entity was originally incorporated. Magic Software Enterprises (Nasdaq:MGIC MGIC Mortgage Guaranty Insurance Company MGIC Montana Geographic Information Council ), a leading provider of state-of-the-art business integration and development technology, announced today that effective Thursday, January 1, 2004 its shares will be included on the Tel Aviv-75 (TA-75) stock index, and the TelTek-15 stock index. Magic shares will also be listed on the Tel Aviv-100 index. The TA-75 index comprises the 75 largest companies on the exchange by market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. and the TelTek-15 index comprises the 15 largest high-tech companies in the exchange, also by market capitalization. Shares included in the index are traded on the Tel Aviv Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest Continuous Trading Continuous Trading A method of transacting different securities orders. Continuous trading involves the immediate execution of orders upon their reception by market makers and specialists. , or TACT, system. The listing on the TA-75 and TelTek-15 provides Magic Software access to many of the institutional investors both in Israel and abroad who are currently restricted from trading in TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) listed equities that are not listed on these indexes. "Our inclusion in the TA-75 and the TelTek-15 is another indication of the continuing momentum that is building around Magic Software and our new iBOLT Integration Suite for business integration, development and process management, improving our ability to attract larger investor audiences," said Menachem Hasfari, 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. of Magic Software. "We are optimistic that we will continue to fulfill our objective to deliver solid financial performance, and shareholder value." About Magic Software Enterprises Magic Software Enterprises, a subsidiary of Formula Systems (Nasdaq:FORTY), develops, markets and supports software development, deployment and integration technology that enables enterprises to accelerate the process of building and deploying applications that can be rapidly customized and integrated with existing systems. Magic technology, applications and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. are available through a global network of subsidiaries, distributors and Magic solutions partners in approximately 50 countries. The Company's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. subsidiary is located at 17310 Redhill Avenue #270, Irvine, CA 92614-5637, telephone (800) 345-6244, (949) 250-1718, fax (949) 250-7404, http://www.magicsoftware.com/. Formula Systems is an international information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products and producing computer-based solutions. 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 abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission. |
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