Tuesday November 12, 5:41 am ET

Crystal Systems Solutions Announces Third Quarter Results on November 18th, 2002 and Hosts a Conference Call -- NASDAQ:CRYS

HERZLIA, Israel--(BUSINESS WIRE)--)--Nov. 12, 2002--Crystal Systems Solutions (NASDAQ: CRYS - News)will report its third quarter results on Monday, November 18th, 2002 before the market opening and host a conference call at 10:00 A.M. Eastern Standard Time.

Crystal is a global provider of leading software products and tools for the modernization of existing legacy applications.

Conference Call Details:

Gad Goldstein, Chairman of the Board, and Iris Yahal, Chief Financial Officer will discuss the third quarter results and will be available to answer questions. The conference call will be held on Monday 18th, Monday 2002 at 10:00 A.M. (EST).

Interested parties are welcome to call the telephone numbers listed below, five to ten minutes prior to the start of the conference call.

Callers should reference "Crystal Systems Solutions Third Quarter Results" to the AT&T conference call operator.

An automated replay of the conference call will be available from November 18th 02:00 P.M. until November 20th at 11:59 P.M. (EST). To access the replay please call (USA) 800/475-6701 (International) 320/365-3844 and enter Crystal's access code of 660639.

About Crystal

Crystal Systems Solutions Ltd. develops solutions that enable clients to efficiently manage the IT assets at their disposal, including legacy applications, modern application packages, middleware, and networking technologies. Its products provide cross-platform software renovation, modernization, and IT asset management solutions that are designed to accelerate the process of mission-critical legacy renewal, integration, and maintenance during an application's entire life cycle.

For more information, please visit our web site at http://www.crystal-sys.com.

Crystal Systems Solutions is a member of the Formula Group (Nasdaq:FORTY - News). 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 solutions.

Certain statements contained in this release may be deemed forward-looking statements, with respect to plans, projections, or future performance of the Company, the occurrence of which involves certain risks and uncertainties that could cause actual plans to differ materially from these statements. These risks and uncertainties include but are not limited to: market demand for the Company's tools, successful implementation of the Company's tools, competitive factors, the ability to manage the Company's growth, the ability to recruit and retrain additional software personnel, and the ability to develop new business lines.

Note to Editors: All names and trademarks are their owners' property.

Contact:
Crystal Systems Solutions Ltd.
Iris Yahal, +972-9-9600233