Emultek Names Marc Belzberg as Interim CEO

Business Wire, Jan 8, 1999

JERUSALEM--(BUSINESS WIRE)--Jan. 8, 1999--Emultek Ltd. (AMEX:EMU) today announced that Board Chairman, Marc Belzberg has assumed the additional duties of interim CEO of the Company, effective immediately. As previously announced, Emultek has engaged an executive search firm in the United States to identify candidates to fill the CEO position following the departure of Mr. Shalom Daskal as the Company's CEO, who resigned for personal reasons.

ABOUT EMULTEK

Emultek Ltd. develops and markets software solutions to shorten the development cycle of embedded products. The Rapid PLUS suite of software tools includes virtual prototyping in a codeless environment and automatic generation of user-interface code, specifications and automatic test acceptance procedures. Emultek is headquartered in Israel and conducts its U.S. operations from its wholly owned subsidiary, Emultek, Inc., in Pasadena, CA. More information on Emultek and its products is available on its website, www.emultek.com.

Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to, significant fluctuations and unpredictability of operating results, risks in product and technology development and rapid technological change, dependence on a single product line, extent of demand for the Company's product, impact of competitive products and pricing, market acceptance, lengthy sales cycle, changing economic conditions, risks of joint development projects, dependence on key personnel, difficulties in managing growth, risks relating to sales and distribution, risks associated with international sales, risks of product defects, dependence on company proprietary technology. For a more detailed discussion of these and other risk factors, see the Company's Form F-1 as filed with the United States Securities and Exchange Commission.