Banco Caminos Chooses Magic Software's Integration Platform to Unify its IT Systems

Banco Caminos Chooses Magic Software's Integration Platform to Unify its IT Systems

OR YEHUDA, Israel, Feb. 17, 2011 - Magic Software Enterprises Ltd. (Nasdaq: MGIC), a global provider of cloud and on-premise enabled application platforms and business integration solutions, today announced that Banco Caminos, a well-known private Spanish bank, chose Magic Software's iBOLT to integrate its IT systems.

Banco Caminos uses Magic Software's uniPaaS to develop all of its core business and internet banking applications. Now, the bank chose to implement iBOLT, Magic Software's integration solution, to integrate and unify its heterogeneous IT applications thereby optimizing and simplifying all the external and internal business processes.

Vicent Escorihuela Ferrer, CIO at Banco Caminos, explains, "Magic Software solutions, both the uniPaaS application platform and iBOLT integration suite, help us to quickly and easily adapt ourselves to the constantly evolving banking regulations, facilitating for instance the implementing of new norms. This allows us to be highly competitive and capable of proposing tailor-made services to our customers. And at the same time, we're able to strictly monitor the risks."

"We are very pleased with Banco Caminos's choice to add iBOLT to its arsenal of Magic Software products and appreciate the company's ongoing trust in our technology. Magic Software's technology will provide Banco Caminos with the latest capabilities in application development, deployment and integration, including the ability to build rich internet and cloud-based applications, and integrate these with other solutions without extensive coding," said Guy Bernstein, acting Chief Executive Officer of Magic Software.

About Banco Caminos

Based in Madrid (headquarters) and in Barcelona, Banco Caminos is an international private bank that initially targeted civil engineers. The bank offers its customers a broad range of banking, investment products and services, through the different companies that compose the Banco Caminos Group: GESTIFONSA SA, SGIIC (investment fund management company), Gefonsa Sociedad de Valores, SA (stockbroker) and Gespension Internacional, SA, EGFP (pension fund management company).

About Magic Software

Magic Software Enterprises Ltd. (NASDAQ: MGIC) is a global provider of cloud and on-premise application platform and business integration solutions. For more information, visit http://www.magicsoftware.com.

Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both here and abroad, release and sales of new products by strategic resellers and customers, the integration of the newly acquired IT services assets and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission.

Magic is the trademark of Magic Software Enterprises Ltd.  All other trademarks are the trademarks of their respective owners.

Press contacts:

                                 Francoise Fouquet - Symphony
    Tania Amar - Magic Software  Communication
    +972-(0)3-5389 300                            +33 (0)1 30 64 14 20
    tania@magicsoftware.com     ffouquet@symphony-communication.fr

SOURCE  Magic Software Enterprises Ltd

Magic Software Enterprises Ltd