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Csc Awards Sapiens With Contract To Help - SAPIENS INTERNATIONAL CORP N V - 4-3-2003

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Csc Awards Sapiens With Contract To Help - SAPIENS INTERNATIONAL CORP N V - 4-3-2003 Powered By Docstoc
					Exhibit 99.2 [SAPIENS LOGO] CSC AWARDS SAPIENS WITH CONTRACT TO HELP MODERNIZE U.S. FEDERAL TAX PROCESSING -- IRS SOLUTION TO RUN ON SAPIENS eMERGE TECHNOLOGY -Research Triangle Park, N.C., March 4, 2003 -- Sapiens International Corporation (NASDAQ: SPNS) today announced that it has been selected by Computer Sciences Corporation (NYSE:CSC) to provide its rules-based technology as an integral part of the Internal Revenue Service's (IRS) Business Systems Modernization program. This lucrative contract will incorporate software license, consulting and education services around Sapiens rulesbased technology, and has additional growth opportunities in 2003 and beyond. In 1998, CSC entered a strategic alliance with the IRS to modernize its business systems. CSC leads a coalition of some of the world's largest and most respected companies in this effort: SAIC, IBM, BearingPoint, Northrop Grumman IT, and Unisys. Together they are called the PRIME Alliance. Sapiens will support this alliance by delivering eMerge, its core rules-based technology, as an off-the-shelf solution, providing the business processing engine that will provide the rule processing capability to power the Customer Account Data Engine (CADE). CADE will provide authoritative data stores for tax accounts and return information for tax administration in the future. "Sapiens' proven track record for providing mission-critical solutions for Global 1000 enterprises makes them a logical choice for adding their best-in-class technology to the CSC PRIME initiative," said Michael Plett, CSC Federal Sector Vice President and PRIME Program Executive. Sapiens was chosen for the critical rules engine role after extensive evaluation and testing in the automated processing system. "Sapiens is pleased to be a partner in this world-class team," said Larry Goldberg, Senior Vice President, Sapiens Americas. "Our core technology, which has played mission-critical roles around the world, will perfectly suit the automation function and meet any future scalability or performance needs." ABOUT CSC Founded in 1959, Computer Sciences Corporation is one of the world's leading information technology (IT) services companies. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology. With more than 65,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El

Segundo, Calif., CSC reported revenue of $11.4 billion for the 12 months ended Sept. 27, 2002. For more information, visit the company's Web site at www.csc.com. ABOUT SAPIENS INTERNATIONAL Sapiens International Corporation (NASDAQ: SPNS) is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change. Sapiens' modular solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. The Company has partnerships with market leaders such as IBM and EDS and its clients include AXA, Liverpool Victoria, Norwich Union, OneBeacon, Principal Financial,

Segundo, Calif., CSC reported revenue of $11.4 billion for the 12 months ended Sept. 27, 2002. For more information, visit the company's Web site at www.csc.com. ABOUT SAPIENS INTERNATIONAL Sapiens International Corporation (NASDAQ: SPNS) is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change. Sapiens' modular solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. The Company has partnerships with market leaders such as IBM and EDS and its clients include AXA, Liverpool Victoria, Norwich Union, OneBeacon, Principal Financial, Prudential, Occidental Fire & Casualty, Abbey National, Honda, International Paper, Panasonic UK among others. For more information, please visit www.sapiens.com ### FOR ADDITIONAL INFORMATION
USA Europe: Rebecca Green Richard Moore Padilla Speer Beardsley Citigate Technology (UK) Tel: +1-212-752-8338 Tel: +44 (0)1604 232 223 e-Mail: rgreen@psbpr.com e-Mail: richard.moore@citigatetechnology.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. ###

Exhibit 99.3 [SAPIENS LOGO] SAPIENS UNVEILS "CLOSED BOOKS INSIGHT" SOFTWARE SOLUTION AIMED AT IMPROVING MANAGEMENT OF LIFE INSURANCE CLOSED BOOKS RESEARCH TRIANGLE PARK, N.C., MARCH 5, 2003--Sapiens International Corporation (NASDAQ: SPNS), a leading insurance business solutions provider, today unveiled "SAPIENS CLOSED BOOKS INSIGHT(TM)", part of the Company's INSIGHT suite of Insurance solutions. Closed Books INSIGHT helps transform the way in which life and pensions companies operate their Closed Books (run offs) of business. The solution is a direct response to the escalating pressure on life and pensions companies, primarily in the UK, to reduce drastically their current cost bases and to provide a more efficient customer service function to their policyholders, whether dealt with directly or via intermediaries. Sapiens Closed Books INSIGHT reflects the range of business options that life and pensions companies have to consider in order to streamline the ongoing administration and extend the value of their Closed Books portfolios. Closed Books INSIGHT includes a solution for in-house systems rationalisation and a third party administration service. At the heart of Closed Books INSIGHT is an insurance application framework, which Sapiens has designed

Exhibit 99.3 [SAPIENS LOGO] SAPIENS UNVEILS "CLOSED BOOKS INSIGHT" SOFTWARE SOLUTION AIMED AT IMPROVING MANAGEMENT OF LIFE INSURANCE CLOSED BOOKS RESEARCH TRIANGLE PARK, N.C., MARCH 5, 2003--Sapiens International Corporation (NASDAQ: SPNS), a leading insurance business solutions provider, today unveiled "SAPIENS CLOSED BOOKS INSIGHT(TM)", part of the Company's INSIGHT suite of Insurance solutions. Closed Books INSIGHT helps transform the way in which life and pensions companies operate their Closed Books (run offs) of business. The solution is a direct response to the escalating pressure on life and pensions companies, primarily in the UK, to reduce drastically their current cost bases and to provide a more efficient customer service function to their policyholders, whether dealt with directly or via intermediaries. Sapiens Closed Books INSIGHT reflects the range of business options that life and pensions companies have to consider in order to streamline the ongoing administration and extend the value of their Closed Books portfolios. Closed Books INSIGHT includes a solution for in-house systems rationalisation and a third party administration service. At the heart of Closed Books INSIGHT is an insurance application framework, which Sapiens has designed specifically to provide life and pensions companies with a single, long-term, strategic platform for all their Closed Books. The application is already being used in the UK by Liverpool Victoria - where it is significantly and immediately reducing the costs of administering over 3.5 million policies. Closed Books INSIGHT is based on Sapiens' business rules technology, making it flexible enough to accommodate additional product types. It has a web-enabled user front-end, is euro-compliant and is compatible with all leading J2EE compliant application servers, to provide a secure channel to internal and external users, intermediaries and policyholders. Alan Bennet, Sapiens' Solutions Manager for Closed Books INSIGHT, comments: "Unlike packaged solutions, the Sapiens application framework focuses on the automation of business processes relating to policyholder, policy and premium administration, plus final payment processing. It is rich in the areas where most packages are weak, especially for the administration of older style products. This solution has been uniquely developed for the ongoing management of Closed Books." Brian Meigh, Director of Sapiens' UK Insurance Solutions Practice, added: "Like all our solutions, Closed Books INSIGHT has been developed as a direct response to the many industry changes and environmental pressures affecting life and pensions companies' profit margins. The goal of Closed Books INSIGHT is not only to assist them in reducing the costs of managing their Closed Books, but also to enable them to achieve significantly improved business benefits in the shortest possible time."

Page 2 ABOUT SAPIENS INTERNATIONAL Sapiens International Corporation (NASDAQ: SPNS) is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change. Sapiens' modular solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through wholly owned subsidiaries in North America, EMEA and Asia Pacific. The Company has partnerships with market leaders such as IBM and its clients include AXA, Liverpool Victoria, Norwich Union, OneBeacon, Principal Financial, Prudential, Abbey National, Honda, International Paper, Panasonic UK among others. For more information, please visit www.sapiens.com.

Page 2 ABOUT SAPIENS INTERNATIONAL Sapiens International Corporation (NASDAQ: SPNS) is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change. Sapiens' modular solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through wholly owned subsidiaries in North America, EMEA and Asia Pacific. The Company has partnerships with market leaders such as IBM and its clients include AXA, Liverpool Victoria, Norwich Union, OneBeacon, Principal Financial, Prudential, Abbey National, Honda, International Paper, Panasonic UK among others. For more information, please visit 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. FOR ADDITIONAL INFORMATION
USA Europe: Rebecca Green Richard Moore Padilla Speer Beardsley Citigate Technology (UK) Tel: +1-212-752-8338 Tel: +44 (0)1604 232 223 e-Mail: rgreen@psbpr.com e-Mail: richard.moore@citigatetechnology.com --------------------------------------------------------------------------------

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SAPIENS INTERNATIONAL CORPORATION N.V. (Registrant)
Date: April 2nd, 2003 By: /s/ Steve Kronengold --------------------Steve Kronengold General Counsel

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SAPIENS INTERNATIONAL CORPORATION N.V. (Registrant)
Date: April 2nd, 2003 By: /s/ Steve Kronengold --------------------Steve Kronengold General Counsel