ForSoft Ltd. Announces Appointment of New Vice President and Chief Financial Officer

HERZLIYA, Israel, Sept. 7 /PRNewswire/ -- ForSoft Ltd., (Nasdaq: FORS - news), a leading provider of large scale IT solutions and services for telecommunications companies, utilities, banks and other enterprises, today announced the appointment of Karen Sarid as Vice President and Chief Financial Officer.

Mrs. Sarid has over 20 years of extensive experience in international hi-tech companies. From 1996 to 1999, Mrs. Sarid served as CFO and Board Member of ESC Medical Systems Ltd. From 1993 to 1996 she served as CFO of Lanoptics Ltd., and from 1987 to 1993, Mrs. Sarid served as Director of Finance and Administration of Zoran Corporation. From 1974 to 1987, Mrs. Sarid served as Controller and other Finance Management positions of Intel Corporation, Haifa, Israel.

Mrs. Sarid said, "I am very excited with the opportunity to work with the leaders of the IT business in Israel and I look forward to participating in ForSoft's outstanding growth potential as the Company continues to aggressively expand internationally."

Emanuel Cohen, CEO of ForSoft said, "We are extremely pleased that Mrs. Sarid is joining our management team as we continue to fulfill our strategy of expanding into international markets. Mrs. Sarid's impressive depth of experience with large, international companies will enable us to meet the challenges before us. I also want to wish luck to Mr. Meir Moshe, who has served with the Formula Group since 1992, in his new challenges and hope to work with him in the future."

ForSoft, a member of the Formula Group (Nasdaq: FORTY - news), designs, develops and implements high quality, innovative, business-critical information systems and software applications for large organizations.

The Formula Group is an international 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.

For further information on ForSoft Ltd., ForSoft Inc., Consultingdirect.com and the Formula Group, visit the following web sites:

http://www.forsoft.co.il http://www.forsoftinc.com http://www.consultingdirect.com http://www.formula.co.il

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, the company's ability to recruit and retain IT personnel, dependence on large projects, successful implementation of the company's services and competitive factors.