Wednesday May 8, 1:00 pm Eastern Time

Formula Announces Repurchase of 74,766 Ordinary Shares

HERZLIYA, Israel, May 8 /PRNewswire-FirstCall/ -- Formula Systems (Nasdaq: FORTY - news), a leading provider of information technology products, solutions and services, today announced that it repurchased 74,766 of its ordinary shares in the open market last week.

Dan Goldstein, Chairman and Chief Executive Officer of Formula, said, "We at Formula have confidence in our company and in our industry. We are convinced of the long term success of our company, and believe that this stock repurchase is in the best interests of our shareholders."

Formula may purchase additional ordinary shares in the future from time to time, depending on market conditions and other factors.

Formula Systems (1985) Ltd. (Nasdaq: FORTY - news):
Formula Systems Ltd., is a global information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products and providing computer-based business solutions.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements made in this press release that are not historical facts are forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks and uncertainties include, but are not limited to: market demand for the company's products, dependence on strategic partners, integration of new business, successful implementation of Formula's products, economic and competitive factors, international market conditions, management of growth, technological developments, the ability to finance operations and other factors which are detailed in Formula's Securities and Exchange Commission filings, including its most recent report on Form 20-F. Formula undertakes no obligation to publicly release any revision to any forward-looking statement.