Fore Group Management & Investments Ltd

• Anglais

Fore Group Management & Investment Ltd. (formerly Elgadcom Group Ltd.), was established in 1982 and is a private management and investment group.

Since its establishment the Group focused its efforts on the telecom markets.

Fore Group established and manages companies which engage in developing technologies and products, operating communication networks, Tower Management, and Cellular Public Telephony. Recently Fore Group has entered into a diversity of new fields such as Real Estate, Security, Oil & Gas Explorations, and other investments.

After 25 years of activities, in light of the expansion of the Group's business into new fields of activity, and its focus on international markets, the Group has resolved to change its name and as of January 2007 it is called Fore Group.

Fore Group's portfolio today includes 20 companies, with a workforce of over 1000 employees, in locations throughout Europe, the Middle East, Africa, Asia, and the Americas.

Optimizing the value of its portfolio companies, the Group creates an environment of high growth by leveraging its expertise and extensive hands-on experience to identify potential markets, opportunities, and global trends. It cultivates its member companies' professional and managerial teams toward achieving independence and long-term success in world markets.

Fore Group is owned and controlled by Mr. Moshe Shushan, Mr. Eliyahu Shushan, Mr.Gad Slook and Mr. Dov Slook.

±EXITS±

* In March 2005, the Group sold its holdings in Bakcell. Bakcell, Azerbaijan's second largest GSM Operator, was founded and managed by Fore Group. The sale was based on a company valuation of US$ 100 million.

* In March 2006, following 130% increase in value as of the IPO, the Group sold its holdings in Leadcom Integrated Solutions. Leadcom,

which was founded and managed by Fore Group, is an international

integrator of wireless telecommunication networks traded on the

Alternative Investment Market (AIM) in London. The sale was based on a company valuation of US$ 127 million.

²Main Companies by Fields of Activity²

²Wireless Operations²

²Tower Vision Ltd.²

Specializing in wireless communication sites, Tower Vision owns,

manages, operate, develops and maintains sites in emerging

markets across the globe. Tower Vision offers its services to

the wireless industry through two basic solutions: built to suit of new wireless sites and acquisition of existing sites ("sale and lease back" long term agreements). Its independent ownership of telecom infrastructure assets allows for multi-tenancy of infrastructure among numerous operators and enables cheaper and faster expansion of Cellular networks. (www.tower-vision.com)

²Foris Telecom Ltd.²

Foris Telecom is a leading global Operations Company, which builds and operates next generation wireless broadband networks that enable fast, simple, portable, reliable and affordable Internet communications. Foris Telecom focus on developing countries and offer wireless broadband networks, which cover entire communities and deliver a high-speed Internet connection that not only creates a new communications path into the home or office, but also provides a broadband connection anytime and anywhere within its coverage area.

²Cellnet Solutions Ltd. ²

CellNetS is a provider of advanced cellular public telephony solutions for developing countries. Its unique Simphony System

operates on the basis of the cellular networks deployed in the territories of destination, and enables a variety of value added services. The CellNetS business model is based on airtime revenue sharing through joint ventures established with local cellular operators or strategic business entities. (www.cellnets.com)

²Products and services²

²C.T ware Ltd.²

CTWARE's new SaaS based contact center platform provides a cost effective carrier grade solution to the small-midsize market segment using the Software as a Service business model. CTWARE develops CTI systems, (Computer Telephony Integration), including IVR systems, value added services and IP contact center solutions. (www.ctware.com)

²F.T.S - Formula Telecom Solutions Ltd.²

FTS is a provider of Business Control, Billing and CRM solutions for communications service providers. Its solutions enable wireline, wireless and next generation networks to offer advanced voice, data and video services, supporting prepaid, postpaid and pay-on-demand billing. FTS is public company listed on the Alternative Investment Market (AIM) in London. In December 2005, FTS acquired VIZIQOR an American company, in order to accelerate its growth in North America. The company is active in Asia, Europe, Africa and North America. (www.fts-soft.com)

²ITS - Integrated Telecommunication Systems Ltd.²

ITS Telecom is a market leader for converged PBX, Voice, Data and

Wireless solutions. ConnectoTM, ITS Telecom's flagship, is a

unique all-in-one Wireless Office Communicator offering Wireless

Operators the ability to effectively target the SoHo/SMB market with a complete communication solution. Additional products include:

VoIP & Cellular Gateways, Voice Mail & Automated Attendant and

Door Phones. (www.its-tel.com)

²Real Estate²

²Hectare Ltd.²

Hectare is engaged in the acquisition and development of real

estate assets. In addition, Hectare develops and leases income

producing real estate. It owns, operates, and develops

commercial, industrial and residential real estate properties

worldwide.

ITS  (Israël)