Tuesday October 23, 4:14 pm Eastern Time

DoubleClick Inc. Signs Two-Year Contract Extension With nextSource Inc.

NEW YORK--(BUSINESS WIRE)--Oct. 23, 2001--nextSource Inc. - a wholly owned subsidiary of Formula Systems LTD (Nasdaq: FORTY - news), and a leading provider of Human Capital Management Solutions - announced today that DoubleClick Inc., the global Internet advertising solutions company, has extended its contract with nextSource Inc. for an additional two years. Under this contract, which was initiated in December 1999, nextSource has provided vendor management services and supplied its Talent Acquisition Management Software (TAMS) for acquisition of both full-time and temporary workers. With this extension, nextSource will be upgrading DoubleClick to a fully integrated version 3.1 of the TAMS solution. "Our relationship with nextSource has been exceptional, as they have shown themselves to be focused, responsive, and knowledgeable. We have saved significant amounts of time and money and have streamlined our staffing processes," said DoubleClick Chief Accounting Officer, Tom Etergino, speaking of his company's relationship with nextSource.

About nextSource
nextSource, headquartered in New York City is a subsidiary of Formula Systems LTD. The company designs, develops and implements a full life-cycle, web-based solution that manages staffing and sourcing, procurement, accounting and reporting processes. This system allows the customer to manage complicated processes, such as vendor selection, evaluation, and management; accrual of spend; MWDVBE compliance; skill set and market-rate benchmarking.

Founded in 1981, Formula Systems LTD (Nasdaq: FORTY - news) has more than 4,000 employees, including 2,500 developers. It includes a dozen public companies and approximately two dozen privately held companies. Its strategic and equity business partners include Ernst & Young, EDS, Informix, and Baan. Formula Systems LTD's revenue exceeded $400 million in 2000.

About DoubleClick Inc.
DoubleClick is building the infrastructure that makes marketing work in the digital world. Combining media, data, research and technological expertise, DoubleClick allows marketers to deliver the right message, to the right person, at the right time, while helping Web publishers maximize their revenue and build their business online. DoubleClick Inc. (NASDAQ: DCLK - news) has Global headquarters in New York City and maintains 37 offices around the world.

Contact:
nextSource Inc., New York
Company Contact: Marian Palionis, 212/736-5870
mpalionis@nextsource.com
or
Press Contact: Kate Rudgers, 212/736-5870
krudgers@nextsource.com