Tuesday July 23, 9:39 am Eastern Time

Revitalized Enterprise Application Developer, BluePhoenix Solutions, Releases New Version of Its Flagship AppBuilder Product

CARY, N.C. and ROOSENDAAL, Netherlands, July 23 /PRNewswire/ -- BluePhoenix launched its latest version of AppBuilder, the prominent application development and management environment for enterprise-wide applications.

Recently purchased by a business unit of The Formula Group from Level 8 Systems, BluePhoenix emerges with its newest version of the AppBuilder development environment for e-business. AppBuilder 2.0.3 is a robust and scalable environment for building and maintaining enterprise-scale applications. With a fully integrated toolset, AppBuilder addresses the challenges of integrating legacy systems with emerging technologies.

"Having recently gone through a corporate transition, our vision remains clear. We have leveraged the strength and reliability of our historical capabilities into AppBuilder and further developed the environment to accommodate e-business and the need for open source applications," said Ted Venema, Chief Operating Officer. "We continue to grow BluePhoenix on the solid foundation of its strong technology and service offerings, while responding to our customers and partners by delivering solutions that meet their needs."

AppBuilder 2.0.3 deploys across multiple platforms and architectures, enabling companies to maximize the advantages of open platforms, various operating systems and client/server environments. AppBuilder's repository lowers the cost of development and maintenance by providing a collaborative environment that manages the system's metadata, retaining the structure of components with their relationships and interactions. Simon Taisbak, Technical Director of SDC-FinansSystem A/S in Denmark, comments on these strengths, "The business requirements of banking have been in constant flux over the last ten years. The industrial strength of AppBuilder has allowed our application to be easily maintained in the midst of external events like Y2K and the European single currency. The flexibility and technology independence of AppBuilder has allowed us to move our application forward with technological advances while making needed business enhancements concurrently."

AppBuilder 2.0.3 leverages existing applications and redeploys them for e-business technologies such as Enterprise Java Beans, HTML Servlets, JAVA and SOAP Web services. Applications developed with AppBuilder can execute in many configurations including standard browsers, application servers and open protocols. It includes support for the industry leading J2EE application servers, IBM WebSphere and BEA WebLogic.

About BluePhoenix Solutions
BluePhoenix Solutions, a wholly owned subsidiary of The Formula Group, (Nasdaq: FORTY - News), provides software and services for enterprise application development and management. In addition to some of the world's largest financial institutions, BluePhoenix provides large-scale solutions for leading enterprises around the world. The BluePhoenix group is headquartered in the Netherlands with wholly owned BluePhoenix subsidiaries in Cyprus, Denmark, Germany, Italy, the United Kingdom, and the United States. For more information, visit www.bluephoenixsolutions.com