Sapiens Announces Settlement Agreement Signed With Chief Scientist

CARY, North Carolina, September 9 /PRNewswire-FirstCall/ -- SapiensInternational Corporation N.V. (NASDAQ and TASE: SPNS) ("Sapiens" or"Company"), a leading global provider of innovative business solutions thatmodernize business processes and enable insurance organizations to adaptquickly 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 theIsraeli Ministry of Industry ("OCS") regarding the dispute between Sapiensand the OCS relating to alleged royalty payment obligations. Pursuant to thesettlement agreement, Sapiens will pay the OCS an interim amount of NIS 6million (approximately $1.6 million) and Sapiens will undergo a technologicalreview by the OCS based on the results of which, the amount owing to the OCSwill be determined. In addition, the liens imposed by the OCS will be removedand Sapiens will withdraw its petition to the High Court of Justice. Theinterim payment is covered by an existing provision in Sapiens' financialstatements.

About Sapiens International

Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a memberof Formula Group (NASDAQ: FORTY and TASE: FORT), which is a member of theEmblaze Group (LSE: BLZ.L) is a leading global provider of proven ITsolutions that modernize business processes and enable insuranceorganizations to adapt quickly to change. Sapiens' innovative solutions arewidely recognized for their ability to cost-effectively align IT with thebusiness demands for speed, flexibility and efficiency. Sapiens operatesthrough its subsidiaries in North America, the United Kingdom, EMEA and AsiaPacific, 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 FinancialGroup, 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 forthin this release are forward-looking statements that are dependent on certainrisks and uncertainties, including such factors, among others, as marketacceptance, market demand, pricing, changing regulatory environment, changingeconomic conditions, risks in new product and service development, the effectof the Company's accounting policies, specific system configurations andsoftware needs of individual customers and other risk factors detailed in theCompany's SEC filings.

SOURCE Sapiens International Corporation N.V