Market Overview

Reflecting Growth and Industry Leadership, Undertone Moving into New Headquarters at One World Trade Center; Joining Growing List of Tech, Advertising and Media Visionaries

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Undertone's Rapid Expansion Solidifies its Vision for Digital
Marketing Industry Disruption

Today, Undertone,
a division of Perion Network Ltd. (NASDAQ:PERI) and a leader in
synchronized cross-platform digital branding for the world's most
prominent brands, is proud to announce it is moving its US office
headquarters to the 77th floor of One World Trade Center.
Joining the ranks of Conde Nast, Servcorp, GroundTruth and Infosys
Technologies, Undertone is expected to move from its current office on
Madison Avenue in Midtown, into the new space in Manhattan's most iconic
location in January 2019.

The office, designed by the pioneering Amy Howell of Forge, will capture
Undertone's spirit of innovation, collaboration and inclusion through
its inspired integration of space-planning, furnishings and
public/private workspaces.

Forge has also designed spaces for SY Partners, Little Big Brands, CHOPT
Creative Salad Company, Crew Cuts, Stack Exchange and other
game-changing companies. The new office will allow Undertone to scale
with its growing marketplace traction by expanding its employee count
significantly. This growth is driven by Undertone's ongoing innovation
behind its synchronized digital advertising platform, which provides the
world's most brand-conscious brands with the ability to deliver
personalized, cross-platform advertising with daypart-sensitive timing.

Undertone views the opportunity to move into One World Trade as an
important step in further establishing itself as a unique and invaluable
member of the digital media community.

"We are thrilled to be moving our headquarters into One World Trade –
it's an important step in expanding our ever-growing influence in
today's digital world and a reflection of our commitment to our clients
and our incredible team," said Michael Pallad, President of Undertone.

One World Trade Center sets new standards of design, construction,
sustainability and beauty and heralds the revitalization of Lower
Manhattan. Managed, operated and leased by The
Durst Organization
, One World Trade Center is a center of innovation
and creativity, and the most recognized office address in the world.

"We are pleased to welcome Undertone to One World Trade Center," said
Jonathan (Jody) Durst, President of The Durst Organization. "One WTC has
become a center for growing companies that need flexibility, want
community and require a building with amenities and services that can
attract and retain talent and customers. We are proud of the culture and
of innovation we have established at One WTC and are excited about our
partnership with Undertone."

Undertone was represented by Vice President Paul Ferraro and Managing
Director Deborah van der Heyden of JLL. The landlord was represented by
Senior Managing Director Eric Engelhardt of The Durst Organization and
Tara Stacom, Justin Royce, Peter Trivelas, Barry Zeller and Connor B.
Daugstrup of Cushman & Wakefield.

About Undertone:

Undertone, a division of Perion Network Ltd. (NASDAQ:PERI), enables the
world's leading brands to connect with their target audiences at scale,
across the screens and platforms that matter the most. Undertone bridges
the gaps in the digital advertising landscape with creative that gets
smarter and more effective at each touchpoint. With cross-screen,
cross-platform solutions that span digital, video, mobile, and native,
Undertone helps brands start the conversation and keep it going across
the entire user journey. Learn more at www.undertone.com.

About Perion Network Ltd.:

Perion is a global technology company that delivers advertising
solutions to brands and publishers. Perion is committed to providing
data-driven execution, from high impact ad formats to branded search and
a unified social and mobile programmatic platform. More information
about Perion may be found at www.perion.com,
and follow Perion on Twitter @perionnetwork.

About Port Authority of New York and New Jersey:

Founded in 1921, the Port Authority of New York and New Jersey builds,
operates, and maintains many of the most important transportation and
trade infrastructure assets in the country. The agency's network of
aviation, ground, rail, and seaport facilities is among the busiest in
the country, supports more than 550,000 regional jobs, and generates
more than $23 billion in annual wages and $80 billion in annual economic
activity. The Port Authority also owns and manages the 16-acre World
Trade Center site, where the 1,776-foot-tall One World Trade Center is
now the tallest skyscraper in the Western Hemisphere. The Port Authority
receives no tax revenue from either the State of New York or New Jersey
or from the City of New York. The agency raises the necessary funds for
the improvement, construction or acquisition of its facilities primarily
on its own credit. For more information, please visit http://www.panynj.gov.

About The Durst Organization:

The Durst Organization, founded in 1915 by Joseph Durst, is the owner,
manager and builder of 13 million square feet of premiere Manhattan
office towers and 1,950 residential rental units with 3,400 in
development. The Durst Organization is recognized as a world leader in
the development of high-performance and environmentally advanced
commercial and residential buildings. www.durst.org.

Forward Looking Statements:

This press release contains historical information and forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995 with respect to the business, financial condition and
results of operations of Perion. The words "will", "believe," "expect,"
"intend," "plan," "should" and similar expressions are intended to
identify forward-looking statements. Such statements reflect the current
views, assumptions and expectations of Perion with respect to future
events and are subject to risks and uncertainties. Many factors could
cause the actual results, performance or achievements of Perion to be
materially different from any future results, performance or
achievements that may be expressed or implied by such forward-looking
statements, or financial information, including, among others, the
failure to realize the anticipated benefits of companies and businesses
we acquired and may acquire in the future, risks entailed in integrating
the companies and businesses we acquire, including employee retention
and customer acceptance; the risk that such transactions will divert
management and other resources from the ongoing operations of the
business or otherwise disrupt the conduct of those businesses, potential
litigation associated with such transactions, and general risks
associated with the business of Perion including intense and frequent
changes in the markets in which the businesses operate and in general
economic and business conditions, loss of key customers, unpredictable
sales cycles, competitive pressures, market acceptance of new products,
inability to meet efficiency and cost reduction objectives, changes in
business strategy and various other factors, whether referenced or not
referenced in this press release. Various other risks and uncertainties
may affect Perion and its results of operations, as described in reports
filed by the Company with the Securities and Exchange Commission from
time to time, including its annual report on Form 20-F for the year
ended December 31, 2017 filed with the SEC on March 27, 2018. Perion
does not assume any obligation to update these forward-looking
statements.

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