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BluePhoenix Signs Multi-Million Dollar Modernization Project With Large U.S. Financial Institution

CARY, North Carolina, September 29 /PRNewswire-FirstCall/ -- BluePhoenix Solutions (NASDAQ: BPHX), the leader in value-driven legacy modernization, today announced that it has signed a major new modernization project to migrate 4GL and COBOL applications to Java for one of the leading financial institutions in the United States. As part of this project, the organization will migrate from DB2 to Oracle and downsize off the mainframe (z/OS) to HP UNIX and LINUX.

CARY, North Carolina, September 29 /PRNewswire-FirstCall/ — BluePhoenix Solutions (NASDAQ: BPHX), the leader in value-driven legacy modernization, today announced that it has signed a major new modernization project to migrate 4GL and COBOL applications to Java for one of the leading financial institutions in the United States. As part of this project, the organization will migrate from DB2 to Oracle and downsize off the mainframe (z/OS) to HP UNIX and LINUX.

The modernization project will be implemented using BluePhoenix's 4GL conversion solution, which enables organizations to automatically migrate their legacy applications to prevailing languages and technologies.

"Modernization away from a legacy fourth generation language to a modern programming environment like Java will enable this large financial institution to safeguard and improve their systems for the future while reducing total cost of ownership," said Yaron Tchwella, President of BluePhoenix Solutions. "We are very excited to have been chosen to execute this mission-critical project. We are pleased that BluePhoenix is increasingly selected as the preferred provider to perform these types of large scale, complex migrations."

The customer highlighted several reasons to justify transitioning from 4GL to Java. These included the high cost of licensing of both 4GL and the mainframe it runs on; the weak roadmap for new functionality for future versions of 4GL; and the difficulty in finding 4GL resources. In addition, the customer believes that moving off the mainframe to a distributed platform will support their goals of improved business flexibility and agility.

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, re-hosting, 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, CareFirst, Citigroup, Danish Commerce and Companies Agency, Desjardins, Los Angeles County Employees Retirement Association, Merrill Lynch, Rabobank, Rural Servicios Informaticos, SDC Udvikling, TEMENOS, Toyota and Volvofinans. BluePhoenix has 15 offices in the USA, UK, Denmark, Germany, Italy, France, The Netherlands, Romania, Russia, Cyprus, South Korea, Australia, and Israel.

BluePhoenix Contact Colleen Pence +1-210-408-0212, ext. 600 cpence@bphx.com Investor Contact Peter Seltzberg Hayden Communications +1-646-415-8972 peter@haydenir.com Financial Media Contact Jeffrey Stanlis Hayden Communications +1-602-476-1821 jeff@haydenir.com

SOURCE BluePhoenix Solutions Ltd.

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