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Bosch and Sapiens Sign Euro Transition Project Agreement

22 March 2000

Bosch and Sapiens Sign Euro Transition Project Agreement

                    Sapiens to Conduct Comprehensive Euro
                  Impact Analysis as First Phase of Project


    RESEARCH TRIANGLE PARK, N.C., March 21 Sapiens
International Corporation N.V. today announced that Robert
Bosch GmbH, one of the most important suppliers of automotive equipment
worldwide ("Bosch"), has entered into a euro transition project agreement with
Sapiens regarding the changeover of Bosch's IT host systems to the single
European currency.  The agreement follows the successful implementation of a
pilot project, in which Sapiens addressed the full range of business as well
as technical issues related to the euro changeover.
    The first phase of the project includes the mapping of Bosch's system
components into a configuration repository, followed by a comprehensive impact
analysis of the euro changeover on Bosch's IT host systems.  At the customer's
request, financial terms of the agreement were not disclosed.
    The Sapiens team will work with Bosch on all business as well as technical
aspects of the project, including the identification of Bosch's business
needs, the delineation of the scope of the project and the planning,
coordination and implementation of all functional and technical aspects of the
euro transition effort.
    Sapiens will employ its EuroMigration(TM) solution, including the Euro-
Virtual-Machine(TM) and Euro Configuration Repository (ECR) technologies.
Sapiens will manage the project at the customer site with the assistance of
its international support facilities.
    Commenting on the project, Dr. Stefan Ihringer, the responsible manager
for the euro project, said:  "We selected Sapiens from a field of several
leading vendors.  The Sapiens team has impressed us with the level of its
skill and its innovative solution to the euro transition challenge.  Sapiens
has demonstrated a keen understanding of our business needs and an ability to
adapt project methodology to meet our objectives."
    Mr. Helmut Hilgers, General Manager, Sapiens Germany, added:  "We are
delighted to have been selected as Bosch's vendor for their euro conversion
challenge.  We are committed to provide Bosch with the very best technology,
project methodology and consulting support to help them meet and exceed their
project objectives, and look forward to working with Bosch on future IT
challenges.  This project also represents a breakthrough for us in the German
market, where we are experiencing increased demand for our solutions and are
in the process of expanding our operations."

    About Sapiens
    Sapiens International 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' vertical market frameworks, such as eMerge Loan and eMerge Insure, 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, IBM and CA.  The Company's installed
base of customers includes 3M, Air France, Greyhound Pioneer Australia, Honda,
IBM, International Paper, Principal Financial, La Redoute 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.

    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.