Herziliya, Israel (BUSINESS WIRE)
Aug. 12, 1999
Crystal Systems Solutions Ltd. (NASDAQ:CRYSF) announced today that it has signed a partnership agreement with CMG Integrated Solutions (a FTSE 250 company, listed on the London and Amsterdam Stock Exchanges) for the C-Euro enterprise solution. CMG, with over 7,900 employees and headquarters near Amsterdam, is the leader in European business computing solutions and has selected Crystal's C-Euro tool and methodology as part of its EMU product-and service package for its wide range of European customers.
"CMG will make use of all its know-how, such as management consulting, systems development and advances technology, for the implementation of Crystal's Euro conversion solutions at our customers," said Mr. Rene P. Albers, Associate Director of CMG.
"CMG is an ideal partner for Crystal to team with to provide the best solutions for Euro-currency conversion to the European corporate marketplace. CMG has a proven track record of providing quality service to its customers in the finance, trade, transport, telecommunications, media, energy and utility industries, as well as government markets" said Shalom Daskal, Crystal's Vice President Sales Europe. "We have the utmost high confidence in their ability to sell our Euro conversion solutions, not only in the Benelux region, but also in France, the United Kingdom and in Germany through their European subsidiaries. We are currently jointly pursuing with CMG several prospects in the Benelux region."
About CRYSTAL: Crystal Systems Solutions is a member of the Formula Group (NASDAQ: FORTY - news) which is the largest public IT group in Israel. Crystal's technologies enable Data-Base conversions, data migration, Euro- Enterprise Solutions, Legacy to Client Server conversions and unique tailor-made software conversions. For more information on Crystal Systems Solutions' products and services, visit the company's World Wide Web site at: http://www.cry-sys.com
About CMG: CMG plc is a leading IT services group, providing business information solutions through consultancy, systems development, software applications and managed services. Established in 1964, CMG operates internationally from its European Bases in the UK, The Netherlands, Germany, France and Belgium, implementing and supporting applications for clients around the world. The Group is listed on the London and Amsterdam stock exchanges.
Certain statements contained in this release may be deemed forward- looking statements, with respect to plans, projections, or future performance of the Company, the occurrence of which involves certain risks and uncertainties that could cause actual plans to differ materially from these statements. These risks and uncertainties include but are not limited to: market demand for the Company's tools, especially demand for decimalization tools, successful implementation of the Company's tools, competitive factors, the ability to manage the Company's growth, the ability to recruit and retrain additional software personnel and the ability to develop new business lines.
Contact: Crystal Systems Solutions
Company Contact:
Iris Yahal
Chief Financial Officer
972-9-952-6110
or
Morgen-Walke Associates,Inc.
Investor Relations Contact:
Richard Schineller/Victor Shalom
212/850-5600
or Press Contact:
Jennifer Gery
212/850-5600