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Contract to Implement Magic eCargo Valued at More than USD 3.5 Million

(photography available)

Bracknell, UK (November 7, 2001) - Magic Software Enterprises (Nasdaq:
MGIC), a leading provider of state-of-the-art development technology and
business solutions, announced today that its U.K. branch has signed a
contract valued at more than .5 million with Menzies World Cargo (MWC) to
deliver a comprehensive air cargo management and tracking system. The
customised solution, to be branded "Hermes" within MWC and to be based upon
Magic eCargo (TM) (Magic's comprehensive air cargo management system), will
improve MWC's cargo management control and secured tracking and verification
capabilities.

Already in use by Cargogate, the company that manages cargo handling for the
Munich Airport, Magic eCargo will be implemented throughout MWC's
organisation with the assistance of NXGN, a Magic Solutions Partner that
specialises in airfreight handling. The solution is expected to go live in
the first quarter of 2002, although revenues from this project will start to
be recognised as early as the fourth quarter of 2001.

MWC is the cargo handling and transport business arm of Menzies Aviation
Group and a part of John Menzies plc. It is the UK's fastest growing
independent cargo handling company. Over the past several years, MWC has
experienced substantial growth - both organically and through acquisitions -
resulting in several different air cargo management systems being in place.
MWC approached Magic because it recognised a need to consolidate all of
those legacy systems under a single new solution that would provide it a
clear competitive advantage in the airfreight industry.

"We needed a system that would enable us to more effectively manage and
control all aspects of our various air cargo operations, including the
ability to absorb the additional tracking and administrative overhead we
anticipate related to tightened security measures," said Des Vertannes,
managing director of MWC. "Because of Magic eCargo's inherent flexibility
and integration capabilities, we are able to protect our existing
investments in complementary systems and get the new system up and running
quickly. In addition, Magic eCargo will allow us to streamline every
business process to achieve even greater levels of customer satisfaction and
profitability."

Magic eCargo (http://www.magicsoftware.com/ecargo) is a comprehensive
solution for cargo handling and inventory control that is designed to
increase a company's productivity and efficiency. Operating on an open
platform architecture, it can run on virtually all operating systems and can
be rapidly integrated with existing applications. Its key features include:

- ULD (Unit Loading Device) build-up/break-down and inventory control


- Remote scanning/input at point of loading for automated build-up of
flights/manifesting

- Comprehensive automated messaging to CARGO-IMP standards

- Customs clearance

- Weight and balance DCS interfacing

- Remote scanning/input at point of offloading/break bulk for verification
of manifests

- Comprehensive scanning/verification of inbound, break bulk, etc.

- Comprehensive financial package for all aspects of charging, collecting
fees, etc.


"We are very excited to have this opportunity to work with Menzies World
Cargo, and to apply our world-class technology to solving its air cargo
management and control issues," said Menachem Hasfari, chief executive
officer of Magic. "The new solution will serve as strong testament to our
considerable experience in developing complex business solutions and to our
ability to work effectively with our Solutions Partners who have specific
domain expertise to ensure our customers the maximum business benefit."



About Menzies World Cargo


MWC, a subsidiary of Menzies Aviation Group, was formed in July 2000 and is
a leading independent cargo handling organisation, handling more than
360,000 tons annually through its network of facilities in the UK. It is
the largest independent handling company at London Heathrow.

Menzies Aviation Group's acquisition program over the past two years has
increased its global presence to 89 airports in 23 countries.

For more
information on MWC, visit the company's website at
http://www.menziesworld.com


About Magic Software Enterprises


Magic Software Enterprises, a member of the Formula Group (Nasdaq: FORTY),
develops, markets and supports software development and deployment
technology that enables enterprises to accelerate the process of building
and deploying applications that can be rapidly customised and integrated
with existing systems. Magic technology, applications and professional
services are available through a global network of subsidiaries,
distributors and Magic solutions partners in approximately 50 countries,
including the UK.

The Formula Group is an international information technology company
principally engaged, through its subsidiaries and affiliates, in providing
software consulting services, developing proprietary software products and
producing computer-based solutions.

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, and other
risk factors detailed in the Company's most recent annual report and other
filings with the Securities and Exchange Commission.

Company Contact:

Andy Peart
Magic Software Enterprises UK Ltd
01344 667000
andy_peart@magicsoftware.com

Media Contact:

Sara Claridge
Marylebone Media Relations
Tel: 01344 876558
Email: sara@marylebone.co.uk
Web Site: http://www.marylebone.co.uk

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