GigaSpaces Enterprise Application Grid named Featured Software on GridSummit.com

New York, January 06, 2005 - GridSummit, a knowledge portal for persons interested in grid computing and related technologies, has selected the GigaSpaces Enterprise Applicaion Grid 4.0 as its featured software for the month of January 2005.

About GigaSpaces Enterprise Application Grid
GigaSpaces Enterprise Application Grid's distributed messaging and data management creates a platform that provides a rich set of tightly-integrated application services (such as JMS, Clustering, Caching, JDBC, etc.) - on top of a federated shared memory platform. This allows developers to rapidly build and deploy high-performance and highly-reliable business-critical applications that run on a distributed set of IT resources. GigaSpaces Enterprise Application Grid also provides powerful monitoring and provisioning features that make its maintenance simple and effective. It enables an organization to dynamically distribute data across low-cost servers such as Linux Blades and achieve in-memory levels of performance with significantly less administration and costs than dedicated hardware solutions.

About GigaSpaces

Founded in 2000 and headquartered in New York with an R&D center is Israel, GigaSpaces Enterprise Application Grid is the first Grid-based middleware directed at transaction-intensive, high-performance business applications for the Fortune 500. GigaSpaces' customers include such major financial, telecom and manufacturing organizations worldwide as AIG, Nortel Networks and Hutchison 3G. GigaSpaces is part of the Formula Group (NASDAQ: FORTY), Israel's largest publicly held IT company. For more information, please visit www.gigaspaces.com.