Sapiens Announces Settlement Agreement Signed With Chief Scientist

• Press Release
• Source: Sapiens International Corporation N.V
• On 3:29 am EDT, Wednesday September 9, 2009

CARY, North Carolina, September 9 /PRNewswire-FirstCall/ -- Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS) ("Sapiens" or "Company"), a leading global provider of innovative business solutions that modernize business processes and enable insurance organizations to adapt quickly to change, and a member of the Formula (NASDAQ: FORTY and TASE: FORT) Group, today announced that further to its announcement on June 26, 2009, Sapiens has signed a settlement agreement with the Chief Scientist of the Israeli Ministry of Industry ("OCS") regarding the dispute between Sapiens and the OCS relating to alleged royalty payment obligations. Pursuant to the settlement agreement, Sapiens will pay the OCS an interim amount of NIS 6 million (approximately $1.6 million) and Sapiens will undergo a technological review by the OCS based on the results of which, the amount owing to the OCS will be determined. In addition, the liens imposed by the OCS will be removed and Sapiens will withdraw its petition to the High Court of Justice. The interim payment is covered by an existing provision in Sapiens' financial statements.

About Sapiens International

Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a member of Formula Group (NASDAQ: FORTY and TASE: FORT), which is a member of the Emblaze Group (LSE: BLZ.L - News) is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations to adapt quickly to change. Sapiens' innovative solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through its subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific, and has partnerships with market leaders such as IBM and EDS. Sapiens' clients include AXA, ING, Liverpool Victoria, Menora Mivtachim, Norwich Union, Occidental Fire & Casualty, OneBeacon, Principal Financial Group, Santam and Texas Farm Bureau among others. For more information, please visit http://www.sapiens.com.

Except for historical information contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the Company's accounting policies, specific system configurations and software needs of individual customers and other risk factors detailed in the Company's SEC filings.

    FOR ADDITIONAL INFORMATION:

    Roni Giladi
    Chief Financial Officer
    Sapiens International
    Tel: +972-8-938-2721
    E-mail: IR.Sapiens@sapiens.com

    Roni Al-Dor
    Chief Executive Officer
    Sapiens International
    Tel: +972-8-938-2721
    E-mail: IR.Sapiens@sapiens.com

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