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Mr. Dan Falk was appointed as the Company's external director in accordance with the provisions of the Israeli law in 2005. Mr. Falk is a business consultant to public and private companies. During 1999 to 2000 Mr. Falk served as Chief Executive Officer and Chief Operating Officer of Sapiens International NV. Prior to that Mr. Falk served as Executive Vice President and Chief Financial Officer of Orbotech Ltd. Mr. Falk serves as a member of various companies' boards of directors such as Orbotech Ltd. Nice Systems Ltd. Ormat Technologies Inc. Attunity Ltd. ClickSoftware Technologies Ltd. Orad Hi-tech Systems Ltd. Jacada Ltd. Dmatek Ltd. Poalim Ventures1 Plastopil Ltd. and Netafim Ltd. | 