SAP A.G. Message Board - Msg: 5139804

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Technology Stocks : SAP A.G.

SAP 247.35

+0.6%

Dec 11 3:59 PM EST

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To: Ibexx who wrote (1320)	7/9/1998 6:51:00 AM
From: Ibexx	of 3424

Thread, SAP news. I wonder if this had anything to do with SAP's recent price actions. _____________________ SAP says Israel investment report wrong WALLDORF, Germany, July 8 (Reuters) - Germany's SAP AG SAPG_p.F business software firm on Wednesday denied statements by a partner company that it planned to invest some $200 million in Israel. An SAP spokesman said SAP was active in Israel but its investment was only a small portion of the figure mentioned by an executive at Ofek-Tech Software Industries. The official, who did not want to be identified, told Reuters that SAP "intended to make Israel a research and development and implementation centre" for its enterprise management software products. He said that SAP bought 51 percent of software developer Ofek-Tech three weeks ago for an undisclosed sum. SAP spokesman Michael Pfister confirmed that SAP had bought a 51 percent stake in Ofek-Tech, but said the investment sum named was "completely pulled out of the air." SAP already had development centres in Germany and California. Israel, with a large corps of well trained engineers and scientists, has emerged as a key location for an increasing number of high-tech firms. Intel Corp INTC.O, for example, recently completed a chip plant in the country. REUTERS Rtr 15:21 07-08-98 Ibexx

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