January 28, 2002 - Israel. Ex Libris Ltd. announced today that Ehud Arad, President is stepping down. Mr. Arad was a founder of the company and the year just completed, year 2001, was a year in which Ex Libris, on a worldwide basis, made substantial achievements, and serves as a an excellent conclusion to Mr. Arad's leadership of Ex Libris.
Mr. Arad said "I realized that the company has grown quite substantially and as a result is now facing new challenges. Like many successful company founders my skill sets are best suited to getting a company started. I felt it was very important to turn the reigns over to a new manager who, with a different skill set, can continue Ex Libris' success by addressing those new challenges." Mr. Arad, will continue as a shareholder and will continue to support and assist the management team of Ex Libris as needed.
Mr. Azriel Morag, Chairman of Ex Libris Ltd. said, "The Board of Directors of Ex Libris has accepted Mr. Arad's resignation and has launched a search for his replacement. The Board deeply appreciates Mr. Arad's efforts and ccomplishments and we wish him success in the future."
About Ex Libris
Ex Libris is a leading worldwide developer of high-performance applications for libraries, information centers, and researchers. Ex Libris has offices around the world, and ALEPH, our integrated library solution, has been installed at over 700 sites in 48 countries. Other Ex Libris software products include MetaLib, an information portal for library collections that provides libraries, institutions, and consortia with a standardized user interface; SFX, a context-sensitive reference
linking solution that provides a one-stop reference system for heterogeneous electronic resources in the scholarly information environment; DigiTool, a solution for building digital collections as components of an overall digital strategy. For more information on Ex Libris, go to: www.exlibris-usa.com .