Exhibit 99.1
PRESS RELEASE
NESS TECHNOLOGIES CHIEF FINANCIAL OFFICER LEAVES POSITION
HACKENSACK, NJ - MARCH 22, 2005 - NESS TECHNOLOGIES, INC. (NASDAQ: NSTC), a
global provider of IT services and solutions, today announced that Yaron
Garmazi, the Company's CFO, has decided to leave his position to pursue other
business opportunities. Mr. Garmazi will step down as Chief Financial Officer on
or about May 20, 2005. However, he will remain available to provide consulting
services to the Company as needed.
"I would like to thank Yaron, for his significant contribution to the Company's
successful IPO, and his leadership of the Company's financial division in its
first steps as a public company," said Raviv Zoller, president and CEO. "I wish
Yaron success in his future business endeavors."
Ness is actively pursuing a replacement for Mr. Garmazi and expects to fill the
position in the near-term with an experienced professional who can help lead the
Company in its continued global expansion.
ABOUT NESS TECHNOLOGIES
Ness Technologies (NASDAQ: NSTC) is a global provider of end-to-end IT services
and solutions designed to help clients improve competitiveness and efficiency.
Specializing in outsourcing and offshore, systems integration and application
development, software and consulting, and quality assurance and training, Ness
serves a blue-chip client base of over 500 public- and private-sector customers.
With 5,000 employees, Ness maintains operations in 14 countries across North
America, Europe and Asia Pacific, and partners with over 100 software and
hardware vendors worldwide. Ness' "best-shore" capabilities streamline service
delivery and address the full range of client needs. For more information about
Ness visit WWW.NESS.COM.
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
often are proceeded by words such as "believes," "expects," "may,"
"anticipates," "plans," "intends," "assumes," "will" or similar expressions.
Forward-looking statements reflect management's current expectations, as of the
date of this press release, and involve certain risks and uncertainties. Ness'
actual results could differ materially from those anticipated in these forward
looking statements as a result of various factors. Some of the factors that
could cause future results to materially differ from the recent results or those
projected in forward-looking statements include the "Risk Factors" described in
Ness' Prospectus filed with the Securities and Exchange Commission on September
29, 2004.
Investor Contact: Media Contact:
Daphna Golden David Kanaan
Phone: +972-3-7666816 Phone: + 972-3-5408188
Email: media.int@ness.com
Erik Knettel Allan Jordan
Phone: 646 - 284 - 9415 Phone: 646 - 284 - 9452
Email: investor@ness.com Email: media@ness.com
