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Phoenix Assurance Company Adopts BluePhoenix Solution That Sets Foundation for SOA Environment

HERZLIYA, Israel, February 12 /PRNewswire-FirstCall/ -- BluePhoenix Solutions (NASDAQ: BPHX), the leader in value-driven legacy modernization, announced today that it has successfully completed a legacy modernization and SOA pilot project at Israel Phoenix Assurance Company.

HERZLIYA, Israel, February 12 /PRNewswire-FirstCall/ — BluePhoenix Solutions (NASDAQ: BPHX), the leader in value-driven legacy modernization, announced today that it has successfully completed a legacy modernization and SOA pilot project at Israel Phoenix Assurance Company.

The project modernized existing applications to provide Web services, and included a successful pilot program that tested the ability to migrate an application into a SOA environment. The migration to Web services increases application efficiency, and also extends their lifespan for years into the future.

"The main modernization driver was to improve efficiency, while leveraging our legacy applications into an environment that can serve as a basis for service oriented architecture," said Ada Markman, senior vice president, head of the information systems division, and chief information officer for Phoenix Insurance.

"We chose BluePhoenix because of their demonstrated expertise to modernize legacy system applications with minimal disruption to business. BluePhoenix's low risk approach allows us to integrate our legacy insurance applications into a SOA foundation quickly and efficiently, enabling us to leverage our existing IT assets."

"We continue to see increasing demand for legacy modernization from the financial services industry. The Israel Phoenix Assurance Company is a perfect example of a strategically-minded company that is able to build a solid foundation for the future," said Arik Kilman, CEO of BluePhoenix Solutions. "Like many other insurance and financial services companies today, Phoenix's legacy systems have been the foundation of their IT infrastructure for several decades. We take pride in helping the company achieve its current and future goals by optimizing its core applications to reach higher operational efficiency and business agility."

The Israel Phoenix Insurance Company engages in most areas of general insurance, including medical and hospitalization, as well as life insurance, including nursing care and pension insurance. Established in 1949, it is one of the largest insurance companies based in Israel.

About BluePhoenix Solutions

BluePhoenix Solutions (NASDAQ: BPHX) is a leading provider of value-driven modernization solutions for legacy information systems. BluePhoenix offerings include a comprehensive suite of tools and services from global IT asset assessment and impact analysis to automated database and application migration, rehosting, and renewal. Leveraging over 20 years of best-practice domain expertise, BluePhoenix works closely with its customers to ascertain which assets should be migrated, redeveloped, or wrapped for reuse as services or business processes, to protect and increase the value of their business applications and legacy systems with minimized risk and downtime.

BluePhoenix provides modernization solutions to companies from diverse industries and vertical markets such as automotive, banking and financial services, insurance, manufacturing, and retail. Among its prestigious customers are: Aflac, Citigroup, DaimlerChrysler, Danish Commerce and Companies Agency, Lawson Products, Los Angeles County Employees Retirement Association, Merrill Lynch, Rabobank, Rural Servicios Informaticos, SDC Udvikling, and TEMENOS. BluePhoenix has 15 offices in the USA, UK, Denmark, Germany, Italy, France, The Netherlands, Romania, Russia, Cyprus, South Korea, Australia, and Israel.

Company Contact David Leichner BluePhoenix Solutions +972-9952-6110 dleichner @bphx.com Investor Contact Paul Holm H.L. Lanzet +1-212-888-4570 paulmholm@gmail.com

SOURCE Bluephoenix Solutions Ltd

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