Exhibit 99.1
NEWS RELEASE
Fundtech Contact:
Yoram Bibring
Fundtech Ltd.
Tel: 1-201-946-1100
yoramb@fundtech.com
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FOR IMMEDIATE RELEASE
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FUNDTECH REPORTS
APPOINTMENT OF YAFFA KRINDEL TO THE BOARD OF
DIRECTORS
JERSEY CITY, N.J., -- February 18, 2004, -- Fundtech Ltd.
(NASDAQ: FNDT), a leading provider of global electronic
payment, settlement and cash management solutions, today
announced that it has appointed Yaffa Krindel, a partner in
the Hertzelia, Israel office of STAR Ventures, a private
venture capital partnership headquartered in Munich, Germany
to Fundtech's Board of Directors. Ms. Krindel joined STAR
Ventures in 1997 as the managing partner of STAR Ventures in
Israel. Before joining STAR Ventures, between 1992 and 1996,
Ms. Krindel served as CFO and VP Finance of Lannet Data
Communications Ltd., then a publicly traded company on
NASDAQ, (now Avaya Inc. - NYSE: AV) a leader in data
communication systems for the enterprise market, then
located in Tel Aviv.
About Fundtech
Fundtech (www.fundtech.com) is a leading provider of
software solutions and services that facilitate payments,
settlement and cash management by enabling businesses and
their banks to electronically manage cash, process payments
and transfer funds. The Company's client-server and Internet
software products automate the process of transferring funds
among corporations, banks and clearance systems and enable
businesses to
manage global cash positions efficiently and in real-time.
Its solutions have been sold to hundreds of financial
institutions around the globe.
Forward Looking Statements:
Statements included in this Release may contain
forward-looking statements. Such forward-looking statements
are made pursuant to the safe-harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such
statements may relate, but are not limited, to projections
of revenues, income or loss, capital expenditures, plans for
growth and future operations, competition and regulation as
well as assumptions relating to the foregoing.
Forward-looking statements are inherently subject to risks
and uncertainties, many of which cannot be predicted or
quantified. When used in this Release, the words,
"estimates," "expects," "anticipates," "believes," "plans,"
"intends," and variations of such words and similar
expressions are intended to identify forward-looking
statements that involve risks and uncertainties. Future
events and actual results could differ materially from those
set forth in, contemplated by or underlying the
forward-looking statements. The factors that could cause
actual results to differ materially from those discussed or
identified from time to time in Fundtech's public filings,
including its annual Report on Form 20-F for the year ending
December 31, 2002, and also including general economic and
market conditions, changes in regulations and taxes and
changes in competition in pricing environment. Undo reliance
should not be placed on these forward-looking statements,
which are applicable only as of the date hereof. Fundtech
undertakes no obligation to revise or update these
forward-looking statements to reflect events or
circumstances that arise after the date of this Release or
to reflect the occurrence of unanticipated events.
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