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Technology Stocks : Formula Systems : FORTY -- Ignore unavailable to you. Want to Upgrade?

To: the dodger who wrote (123)	2/29/2000 7:35:00 AM
From: Dorine Essey	Read Replies (1) \| Respond to of 141

Formula Systems Ltd. Postpones Fourth Quarter Results Due to Public Offering of Subsidiary, Magic Software Enterprises Earnings Per Share is Expected to be Higher Than Analyst and Wall Street Expectations February 14, 2000 10:39 AM HERZLIA, Israel, Feb. 14 /PRNewswire/ -- Formula Systems Ltd., FORTY , a leading provider of information technology products and services, today announced that it has postponed the release of its fourth quarter and year-end, 1999 earnings results until February 28, 2000, due to the public offering currently underway by its subsidiary, Magic Software Enterprises MGIC . According to the information currently available by Formula Systems Ltd., the Earnings Per Share of Formula Systems Ltd., is expected to be higher than analyst and wall street expectations. Magic is a member of the Formula Group. Magic is a leading provider of e-commerce and other enterprise-level business solutions. Magic develops, markets and supports software development and deployment technology that enables enterprises to accelerate the process of building applications that can be rapidly customized and integrated with existing systems. Formula Systems Ltd. is a global information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products and providing computer-based business solutions. This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks and uncertainties include, but are not limited to: market demand for the Company's products, successful implementation of the Company's products, economic and competitive factors, international market conditions, technological developments, the ability to finance operations and other factors which are detailed in the Company's SEC filings. SOURCE Formula Systems Ltd.