Sapiens International — Director's Dealing 2015

Jan 1, 2015

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C002������� ����������� ���������� �� ��2PublicSAPIENS INTERNATIONAL CORPORATION N.V9683Corporation no: 53368Stock Exchange/Market: TASE1488380Harokmim. Azrieli Center 26 , Holon 5885800 , , IsraelTel: 03-7902000 , 03-7902032 Fax: 03-7902942E.mail address: info@sapiens.comReported via MAGNA: 01/01/2015              Time of broadcast: 09:10 09:08:32

Company site:		www.sapiens.com

Reference: 2015-02-000253

Israel Securities Authority		Tel Aviv Stock Exchange
www.isa.gov.il		www.tase.co.il

Immediate ReportRegulation 4 of the Securities Regulations, (Periodic and Immediate Reports of Foreign Corporation) 5761-2000

The corporation is a foreign private issuer as defined by U.S. Securities Laws.
Attached hereto is a report on ����� ������ �"�/�.���� FORMULA SYSTEMS 13D/A
G1691992-V001_isa.pdf

References of previous documents relating to this matter(the reference does not constitute incorporation by reference):
Previous names of reporting entity:
Date of revision of form structure: 31/12/2014
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Name of the Signatory: : Shamir Moshe , Position of Signatory in the reporting corporation: Vice President Marketing , Name of Employer Company: .
Kam St Telephone: 054-5480818 , Facsimile: 03-5621959 , E-mail: moshe.shamir@sapiens.com 1