Thursday September 28, 9:08 am Eastern Time

Magic Software Enterprises Solutions Partner, e-Carisma, to Provide Magic eService to Satyam Europe

IRVINE, Calif.- (BUSINESS WIRE)- Magic Software Enterprises (Nasdaq:MGIC - news), a leading provider of state-of-the-art technology and business solutions, Thursday announced that e-Carisma, one of its solutions partners in the United Kingdom, has signed a deal with Satyam to customize and install Magic eService(TM) in its expanding European headquarters.

Satyam, which has offices in India, the United States, Japan and Singapore, as well as the United Kingdom, provides end-to-end IT solutions to multinational clients globally.

Satyam will use Magic eService, Magic's Web-based customer service management system, initially to provide internal support for its own European office. In addition, however, Satyam plans to promote Magic eService to its customers as part of its ASP offerings.

"Magic eService's flexibility and ease of customization made it the perfect choice for Satyam," said Mark Fuller, delivery manager at Satyam. "Its browser-based interface and adaptability to different environments will be a great asset as we open up other offices throughout Europe."

Magic eService is a completely Web-based customer service solution designed to manage long-term service for complex problems. It automatically documents service, while allowing both the service agent and customer to track performance.

In addition, Magic eService can be easily and seamlessly integrated with existing front- and back-office systems, as well as rapidly customized and implemented to provide businesses a competitive advantage not available using other commercial customer relationship management (CRM) solutions.

"We are extremely pleased that Satyam has chosen to work with Magic Solutions Partner, e-Carisma, to customize and install Magic eService in their operations," said David Leichner, vice president of worldwide marketing for Magic.

"With its ability to streamline service workflow and provide a comprehensive picture of service departments in real time, Magic eService gives businesses the leverage they need to remain competitive in today's rapidly evolving Internet economy."

About Satyam

Satyam specializes in providing customized IT solutions to businesses in a variety of industry sectors. With its global state-of-the-art development centers and nearly 7,000 IT professionals, the company assists more than 150 FORTUNE 500 clients worldwide.

Satyam's range of experience includes software development services, systems integration, ERP solutions, product development, electronic commerce and consulting. For more information on Satyam, visit the company's Web site at http://www.satyam.com.

About e-Carisma

Based in Reading in the United Kingdom, e-Carisma is a software house committed to developing and marketing Magic-based software solutions that can be customized and implemented as stand-alone applications or executed on its ASP platform. The ASP environment is provided through its partnership with a leading American ASP.

In addition to its service management products, e-Carisma also offers ASP products for asset management, configuration management, employee expense management and Web-based surveying. For more information, contact Pauline.Woodroffe@e-carisma.com.

About Magic Software

Magic Software Enterprises, a member of the Formula Group (Nasdaq: FORTY - news), develops, markets and supports software development and deployment 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 are available through a global network of subsidiaries, distributors and Magic solutions partners in approximately 50 countries. The company's North American subsidiary is located at 1642 Kaiser Ave., Irvine, Calif., 92614, telephone: 949/250-1718, fax: 949/250-7404, http://www.magic-sw.com.

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 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.

Contact:
Magic Software Enterprises
Katharine Hanley, 949/250-1718, ext. 220
khanley@magic-sw.com