Tuesday August 6, 9:34 am Eastern Time

Crystal Systems Solutions Announces Second Quarter Results on August 13th, 2002 and Hosts a Conference Call

HERZLIYA, Israel--(BUSINESS WIRE)--Aug. 6, 2002--Crystal Systems Solutions (Nasdaq:CRYS - News) will report its second quarter results on Tuesday, August 13th, 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 second quarter results and will be available to answer questions. The conference call will be held on

Tuesday, August 13th, 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.

    In the US call: (888) 428-4473
    Outside the US call: (612) 332-0107

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

An automated replay of the conference call will be available from August 13th at 01:30 P.M. until August 15th at 11:59 P.M. (EST) To access the replay please call (USA) 1-800-475-6701 (International) 1-320-365-3844 and enter Crystal's access code of 648629.

About Crystal Systems Solutions
Crystal Systems Solutions Ltd. (Nasdaq:CRYS - News) develops and markets software tools and provides consulting services for efficient modernization of legacy systems and cross-platform migrations.

Crystal provides comprehensive enterprise products spanning mainframe, midrange, and client/server computing platforms. Crystal has enhanced its expertise through the successful completion of projects for Fortune 1000 prestigious organizations, establishing solid credibility, and achieving global recognition and presence. Crystal is totally committed to supporting its customers, both directly and via its partners, offering end-to-end solutions through consultancy, assistance, and service in conjunction with its wide variety of proprietary software tools. 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.

All names and trademarks are their owner's property.

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