Aquila Selects nextSource Inc. and its Talent Acquisition Management Solution

Monday July 14, 8:30 am ET

NEW YORK--(BUSINESS WIRE)--July 14, 2003--nextSource Inc. - a wholly owned subsidiary of Formula Systems LTD (Nasdaq:FORTY - News), and a leading provider of Human Capital and Services Spend Management Solutions - announced today that Aquila Inc. (NYSE:ILA - News), has selected nextSource and its Talent Acquisition Management Solutions(tm) (TAMS) software to facilitate the entire acquisition process from requisition through payment for their contingent workforce including administrative and clerical temporaries, field personnel, IT consultants and other professional contract labor. As part of the TAMS deployment, Aquila will gain access to The People Ticker(tm), nextSource's real time rates and compensation tool that will allow Aquila to benchmark existing bill rates for contingent workers against current market rates for cost reduction opportunities.

"As the only provider in the Human Capital Market that offers an 'all points' solution, nextSource prides itself on being able to accommodate the broad human capital demands of companies like Aquila," says John Sculley, Chairman of the Advisory Board of nextSource Inc. "Our suite of solutions, offered through The People Blue Book(tm), were created to provide customers a single source for their contingent and full time workforce needs. We look forward to working with Aquila to provide the exceptional levels of service and quality that customers have come to expect from nextSource."

With the deployment of the 5th generation of TAMS, Aquila will be able to more effectively manage their contingent workforce while achieving their goals of reducing both direct and indirect costs, improving process efficiencies and minimizing the legal risks surrounding the use of contingent labor.

"Aquila expects the relationship with nextSource to streamline our contingent labor process, resulting in lower costs and increased efficiencies," states Vicki Heider, Vice President, Human Resources.

For additional information on nextSource's The People Blue Book, please visit www.nextsource.com.

About Aquila
Based in Kansas City, Missouri, Aquila operates electricity and natural gas distribution networks, serving customers in seven states and in Canada, the United Kingdom, and Australia. The company also owns and operates power generation assets. More information is available at www.aquila.com.

About nextSource
nextSource, headquartered in New York City is a subsidiary of Formula Systems LTD. The company designs, develops and implements web-based, high quality, innovative Human Capital and Services Spend Management Solutions. An Oracle and Microsoft Certified Partner, nextSource has patents pending on both its Talent Acquisition Management Solution (TAMS) and The People Ticker.

Founded in 1985, Formula Systems (1985) LTD (Nasdaq:FORTY - News) is an international Information Technology company, principally engaged through its subsidiaries and affiliates, in providing proprietary software products, computer based solutions and software consulting services

Contact:
nextSource, New York
Ed Remus, 212-736-5870
eremus@nextsource.com
or
Kate Rudgers, 212-736-5870
krudgers@nextsource.com