Sapiens and Cognos Team up

Cognos improves Sapiens' ability to strengthen carrier analytics and reporting

August 30, 2007

Cary, N.C. – August 30, 2007 - Sapiens International Corporation N.V. (NASDAQ and
TASE: SPNS) a member of the Emblaze/Formula Group (LSE:BLZ.L) (NASDAQ:
FORTY and TASE: FORT), today announced that Sapiens Americas Corporation has chosen to partner with Cognos the world leader in business intelligence and performance management solutions. The combined Sapiens and Cognos offering will provide customers an insurance administration suite with stronger enterprise reporting and analysis capabilities, enabling a comprehensive view of performance data and how it affects their business.

Cognos 8 Business Intelligence (BI) provides decision makers at all levels of the enterprise groundbreaking capabilities to better manage performance by delivering a consistent, accurate view of all business information. As a complete, flexible product, Cognos 8 BI easily integrates into existing infrastructures with multiple systems and data sources. Its simplified BI environment improves user adoption, enables better decision-making, and provides a robust foundation for enterprise BI and performance management.

“We are pleased that Sapiens chose Cognos as its business intelligence partner. We have extensive experience in the insurance domain currently serving four of the top five global insurance companies,” said Rich Luciano, Cognos Senior Director of Channels Development. “This partnership will provide customers the ability to drill down into their data for detailed analysis of information from all dimensions giving them a clear understanding of their business performance.”

Sapiens INSIGHT™ for Property & Casualty is an insurance administration suite for policy, billing, claims and reinsurance management and gives insurers the tools they need to respond quickly to business challenges including speed to market, increasing customer demands, globalization and regulatory change.

“Insurance companies own massive amounts of data. Knowing how to interpret that data and having it readily accessible when they need it is a huge challenge many carriers are facing today,” commented Roni Al-Dor, President and CEO of Sapiens. “Our alliance with Cognos takes our state-of-the-art insurance administration solution to the next level. This partnership will benefit our customers by allowing them to unlock key information that will help them make even smarter business decisions.”

About Sapiens International
Sapiens International Corporation N.V. (Nasdaq and TASE: SPNS), a member of Emblaze/Formula Group 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, ING, 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

Archana Patel
Marketing Communications Coordinator
Sapiens Americas
919-405-1507
usa@sapiens.com