Tuesday July 9, 9:01 am Eastern Time

Magic Software Launches Free Web Based Training Initiative for Magic eDeveloper v9.3

IRVINE, Calif.--(BUSINESS WIRE)--July 9, 2002--Magic Software Enterprises (Nasdaq:MGIC - News), a leading provider of state-of-the-art application development and deployment technology announced today the launch of a free web based training initiative for Magic eDeveloper(TM) v9.3. Magic eDeveloper enables developers to directly access and manipulate extensible markup language (XML) data and instantly assemble Web Services applications utilizing its new Web Services Assistor for Web Services Description Language (WSDL) operations.

The new web training initiative provides developers with a free evaluation version of Magic eDeveloper, a 40-hour web based training course "Fundamentals of Magic eDeveloper Programming" as well as three months of free technical support. Developers can access the training at the Magic Software web site www.magicsoftware.com/entry/edev_download.htm.

Magic eDeveloper has been shown to provide rapid return on investment when compared to complex software studios containing varied programming languages and tools. Magic eDeveloper is a single uniform tool utilizing a point and click table-driven paradigm for accelerated development of enterprise business applications including ERP, CRM, SCM, logistics and custom applications. Magic eDeveloper is heavily utilized to create a variety of vertical applications in finance, insurance, government, manufacturing, distribution, retail and other sectors.

"Magic eDeveloper provides developers with significant payoffs and rapid return, especially for projects which have serious time constraints or integration challenges," said Avikam Perry, vice president of research and development for Magic Software. "Our goal in offering the web based training and support free of charge is to enable programmers to become familiar with Magic eDeveloper to help them solve their toughest development challenges."

Building on previously announced support for Web Services via SOAP, the new Magic eDeveloper Web Services Assistor significantly accelerates the assembly of complex applications utilizing WSDL. Magic eDeveloper not only supports WSDL, it automatically displays the operations available within a Web Service in a signature Magic table. Tedious copy and paste approaches typical of environments providing only minimal Web Services support are bypassed by directly engaging the operations of the Web Service within the Magic eDeveloper environment.

Magic eDeveloper v9.3 also includes enhanced XML support that enables application developers to utilize rich, structured data from almost any environment in a consistent, standard way. Magic eDeveloper's new Direct Access to XML provides significantly improved XML functionality by allowing parsing of XML data and making it instantly available for manipulation utilizing the advanced Magic eDeveloper programming paradigm.

Perry notes, "Our support for Direct XML and enhanced Web Services functionality puts developers at the forefront of technology for rapidly creating customizable, integrated applications."

Magic eDeveloper enables developers to create applications in client-server, online or interactive browser mode that are suited to migrating and integrating data within a multi-database environment. Magic eDeveloper provides an ideal environment to develop applications for Windows, Unix, Linux and iSeries operating systems in a way that delivers rapid scalability, interoperability and integration to legacy systems. Web Services allow companies to collaborate and realize productivity gains by sharing application resources. Utilizing Web Services, SOAP and XML is another of the many avenues developers may choose to achieve secure interoperability using Magic eDeveloper.

About Magic Software Enterprises
Magic Software Enterprises, a member of the Formula Systems (Nasdaq:FORTY - News) group, develops, markets and supports software development and deployment technology 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 1642 Kaiser Avenue, Irvine, Calif., 92614, telephone 949/250-1718, fax 949/250-7404, http://www.magicsoftware.com.

Formula Systems 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.

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:
Magic Software Enterprises
David Leichner, 011-972-67-799-888