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Symbol Technologies, Inc. Selects nextSource Inc. for its Talent Acquisition Management Solution

NEW YORK, NY. (April 12, 2004) -- nextSource Inc. -- a wholly owned subsidiary of Formula Systems LTD (NASDAQ:FORTY), and a leading provider of Human Capital Management Solutions -- announces that Symbol Technologies, Inc., The Enterprise Mobility Company, has been added to its growing list of customers for its Talent Acquisition Management Solution (TAMS).

FOR IMMEDIATE RELEASE
April 12, 2004

Contact Information:
Ed Remus   eremus@nextsource.com     212.736.5870
Kate Rudgers   krudgers@nextsource.com 212.736.5870

Symbol Technologies, Inc. Selects nextSource Inc. for its Talent Acquisition Management Solution

NEW YORK, NY. (April 12, 2004) -- nextSource Inc. -- a wholly owned subsidiary of Formula Systems LTD (NASDAQ:FORTY), and a leading provider of Human Capital Management Solutions -- announces that Symbol Technologies, Inc., The Enterprise Mobility Company, has been added to its growing list of customers for its Talent Acquisition Management SolutionÔ (TAMS).

With the implementation of TAMS in late 2002, Symbol Technologies was able to automate and streamline its processes for the acquisition, administration and tracking of its contingent workforce across 20 locations throughout the US. With the rollout of nextSources TAMS, we have realized significant process efficiencies, cost reductions and enhancements in our tracking and reporting capabilities for our contingent workforce," said Geoff Gatling, director of corporate purchasing for Symbol Technologies.

"We are very proud to have Symbol as our client and will continue the customer service level they have become accustomed to," said Joseph Musacchio, CEO of nextSource Inc. "Our solutions were created to provide customers a single source for their contingent and full-time workforce needs. We are pleased with the results of our work with Symbol and look forward to a long lasting relationship by continuing to provide the exceptional levels of service and quality that customers like Symbol have come to expect from nextSource."

For additional information on nextSources Talent Acquisition Management Solution, as well as all of the other services provided, visit www.nextsource.com.

About nextSource
nextSource, headquartered in New York City is a subsidiary of Formula Systems LTD. Blending its web-based Talent Acquisition Management Solution (TAMS) with other related work services, nextSource has developed a unique business model that provides a single source for corporate customers for all their staffing related and human resources needs. A Job Board for both onsite and offsite jobs, HR Services which include payrolling, benefits administration, etc., The People TickerÔ a real-time online rates and salaries resource, and The Multiple Listing Staffing AssociationÔ (MLSA), an industry-wide agency exchange, round-out nextSources offerings, providing an end-to-end solution all under one roof. An Oracle and Microsoft Certified Partner, nextSource has patents pending on both its Talent Acquisition Management Solution (TAMS) and The People Ticker.

Founded in 1985, Formula Systems (1985) LTD (NASDAQ: FORTY) is an international Information Technology company, principally engaged through its subsidiaries and affiliates, in providing proprietary software products, computer based solutions and software consulting services.

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www.HRmarketer.com) on behalf of the company listed above.