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Sapiens Teams with IBM to Offer Flexible Financing Options for Customer e-business Solutions

Sapiens' clients can significantly lower acquisition and implementation costs

Research Triangle Park, NC - 24 Oct 2000: -Sapiens International Corporation N.V. (NASDAQ:SPNS), a global e-business solutions provider, today announced a strategic financing agreement with IBM Global Financing. This alliance will provide new and existing Sapiens' customers with the option to finance hardware, software, maintenance, training and services associated with implementing Sapiens' solutions.

The alliance with IBM Global Financing is designed to reduce costs and open up new possibilities of fast "time-to-market" decisions for Sapiens' clients. Financing enables customers to benefit from their new e-business solution, while spreading out the cost to fit their budget requirements.

"Our clients now have the option to acquire more technology on a timely basis, which will give them a competitive edge," said Gil Arbel, Executive Vice President, Sapiens Americas. "We are pleased to add this excellent opportunity to the many benefits our strong relationship with IBM provides for our clients."

"As more and more customers move toward e-business, the need for total project financing will continue to grow," said Bill Doscas, vice president of sales and marketing, IBM Global Financing.

"IBM Global Financing works with industry leaders such as Sapiens to make it easier, faster and more affordable for customers to acquire and implement e-business solutions, which provide significant competitive advantages," Doscas said.

About Sapiens
Sapiens International (NASDAQ: SPNS) is a global e-business solutions provider. Sapiens delivers strategic end-to-end solutions that enable customers to capitalize on their IT assets in the transition to e-business. Sapiens' e-commerce solutions, such as eMerge Loan, eMerge Insure and eMerge Supply Chain, as well as its cross-industry offerings, such as eMerge and EuroMigration, apply new business models and processes in the emerging, dynamic world of e-business and help clients meet the challenges of euro migration and reengineering. Applying proven technologies, Sapiens ensures fast time-to-market and responsiveness to change.

Sapiens serves its growing customer base directly and through partnerships with such industry leaders as Cap Gemini, CSC, IBM and KPMG. The Company's installed base of customers includes 3M, Air France, Argos, Bosch, Groupe Andre, Honda, IBM, International
Paper, Principal Financial and Siemens Energy and Automation and other multinational corporations.

You are invited to visit us on the World Wide Web at http://www.sapiens.com.

About IBM Global Financing
As the largest IT financier in the world, IBM Global Financing offers customers in more than 40 countries leasing and financing solutions for hardware, software and services acquired from IBM and other vendors. With more than $44 billion in annual financing originations in 1999, IBM Global Financing also provides flexible commercial financing for inventory, accounts receivable and acquisitions. In the U.S., IBM Global Financing customers are served by IBM
Credit Corporation.

Visit the IBM Global Financing home page at http://www.ibm.com/financing.

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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 and other risk factors detailed in the Company's SEC filings.

Contact(s) information

Bob Braun IBM Global Financing
IBM
(914) 765-6560
rbraun@us.ibm.com

Lauri Hanover Chief Financial Officer
IBM
+1-877-554-2426
lauri.h@sapiens.com

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