May 2005

Irit Hillel is joining financial services group Magnolia Capital Partners as Managing Director, Investment Banking. She will work with Magnolia Capital Partners’ strategic partner Thomas Weisel Partners LLC.

Hillel, a senior executive and entrepreneur in high tech and financing, began her career in the United States after completing her MBA at UCLA. Hillel joined Columbia Savings investment group as senior investment manager for high-yield bonds. While in the United States, Hillel founded software company PrintPaks, which was sold in 1998 to Mattel Inc., the world’s largest toy company, for $26 million. Following the sale of PrintPaks, Hillel joined Mattel, where she established and managed Mattel Media Europe. Under her management, Mattel Media Europe achieved $30 million in sales within two years. Prior to joining Magnolia Capital Partners, Hillel served as vice president of Israeli technology company Power Paper Ltd. in 2003-04, and as an advisor to Mirage Innovations.

Founded in 2004 by Rani Cohen and Hagi Schwartz, Magnolia Capital Partners is the Israeli representative of Thomas Weisel Partners, providing financial services for high growth Israeli technology companies. Rani Cohen was formerly a managing director of Mofet Venture Capital and Aurum-SBC Ventures. As entrepreneur and CEO, he was involved with a number of technology companies in Israel and the United States. Cohen previously worked as an investment banker in the Technology M&A Group of Credit Suisse First Boston in New York.  Hagi Schwartz has held several executive positions at leading technology companies including service as the CFO of Check Point Software Technologies Ltd. (1996-99), Mercury Interactive Corporation (1991-96), Atrica Inc. and HyperRoll Inc.

Magnolia Capital Partners Chairman and CEO Rani Cohen welcomed Hillel on joining the company, saying, “Irit Hillel brings to Magnolia Capital Partners many years experience in entrepreneurship and management of technology companies. Irit’s management and marketing know-how will help Magnolia Capital Partners promote the growth of technology companies, and provide better service for managers of companies and venture capital funds in Israel by bringing creative ideas and understanding of their needs”.

“In addition to offering the services of Thomas Weisel Partners, a leading investment bank in the United States, Magnolia Capital Partners offers entrepreneurs the opportunity to rely on the experience and assistance of Magnolia’s managers, all of whom have experienced a number of exits of technology companies. Irit Hillel further strengthens the group’s combined experience.”

Thomas Weisel Partners was founded in the United States by Thom Weisel, the founder of Montgomery Securities. In 2004, Thomas Weisel Partners completed or announced 96 financing and M&A transactions totaling $13 billion in value. The firm was the No. 1 underwriter of technology IPOs and the No. 3 underwriter of venture capital sponsored IPOs in the consumer, healthcare, media & telecommunications and technology sectors, in terms of the number of transactions completed.  Thomas Weisel Partners’ recent activities for Israeli companies include the follow-on offering by M-Systems Flash Disk Pioneers Ltd. (Nasdaq: FLSH) and its bond issue in March 2005, as well as the follow-on offering by Syneron Medical Ltd. in March 2005.

For further details: Uri Meirovich, public relations Magnolia Capital Partners, Tel. 972-3-629-7612, Mobile. 972-54-640-0070.