Magic Software Presents Dr. Jim Chambers on “Innovation and the CIO: Transformation and Change in Business Processes”

January 6, 2005

Irvine, California (January 6, 2005) - Magic Software Enterprises (Nasdaq: MGIC), a leading provider of state-of-the-art integration and development technology announced today that Dr. Jim Chambers, founder and CEO of the Institute for Organizational Leadership, will speak on the topic of “Innovation and the CIO: Transformation and Change in Business Processes” at Magic’s live webcast on www.ebizq.net at noon Eastern Time on January 13, 2005 (17:00 GMT).

Dr. Chambers, will address the impact of transformational leadership on business today with particular attention on the impact of innovation and the role of the CIO.

In addition, Lee Sutton, Co-Director of the Integration Competence Center for Magic Software Enterprises, will present an example of how iBOLT Integration Suite 2.0 can provide a foundation to flexibly manage change in business processes. The session will be moderated by Beth Gold-Bernstein, vice president of strategic services at ebizQ.

“Customers should attend this Webinar to learn how today's CIO can lead transformational business change and why it is essential to have an agile IT environment that responds to changing business needs and is responsive to leadership,” said Oren Inbar, President & CEO of Magic Inc.

For details and registration information, please visit http://www.magicsoftware.com/home/webinars

About Magic Software Enterprises
Magic Software Enterprises, a subsidiary of Formula Systems (Nasdaq: FORTY), develops, markets and supports software development, deployment and integration technology (www.magicsoftware.com/ibolt) 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 17310 Redhill Avenue #270 , Irvine , CA 92614-5637 , telephone (800) 345-6244, (949) 250-1718, fax (949) 250-7404, http://www.magicsoftware.com/.

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:
Gil Trotino
VP, WW Marketing
Magic Software Enterprises
(949) 250-1718 X299
gtrotino@magicsoftware.com