GigaSpaces Announces Version 5.0 of its EAG, Delivering a Full Virtual Application Server Solution
6/27/2005

New release enables rapid development and deployment over low-cost infrastructure of high throughput, low latency transaction processing applications.

SAN FRANCISCO , CA - June 27, 2005 - GigaSpaces Technologies Inc., a fast-growing provider of innovative, distributed infrastructure solutions for transaction intensive, business-critical applications, announced today at JavaOne 2005 the latest release of its Enterprise Application Grid (EAG).  This new release provides high throughput, low latency applications with a Virtual Application Server, which delivers all the necessary distributed application services, such as distributed caching, parallel processing and a messaging bus. These capabilities enable enterprises in the financial, telecom and transportation industries to rapidly develop and deploy distributed applications over low-cost infrastructure.

Version 5.0 includes a dynamic service provisioning and monitoring framework, which enables applications to run over a dynamic pool of low-cost commodity hardware based on specific Service-Level Agreement (SLA) requirements. This approach improves upon the manual process of developing, deploying and managing distributed applications, replacing it with an automated service deployment, monitoring and management system.

The introduction of these new capabilities, combined with additional new features and enhancements to GigaSpaces' EAG, provides an unparalleled solution that delivers breakthrough performance, built-in fault-tolerance and dynamic scaling-out of applications together with all their underlying middleware components.

"The company has been getting attention from users and major vendors because of its data management capabilities," said William Fellows, Principal Analyst with The 451 Group, a technology industry analyst company focused on the business of enterprise IT innovation.  Fellows continued, "Development models and data management are high up the grid industry's agenda right now as it seeks to move into a more commercial application phase." This comment appeared in an independent report, titled "GigaSpaces Readies Development Model As Part of Next-generation Grid Middleware," which was published on May 24 of this year (see Editor's Note below).

To take advantage of the market opportunity and drive the new technology activity forward, GigaSpaces has hired Dennis Reedy as VP of Advanced Technology. Reedy was formerly in charge of Sun's Project Rio, an open-source implementation of a Service Automation platform. He has vast experience in building and managing large-scale distributed systems.

"With this new release and with the addition of Dennis to our team, we believe GigaSpaces is taking a significant step towards fulfilling the vision of the next-generation of application-server technology," said GigaSpaces CEO Yaron Benvenisti. "We believe GigaSpaces offers the most advanced solution for organizations to scale-out their most demanding, mission-critical systems, and reap the benefits of unparalleled performance, scalability and fault-tolerance at a fraction of the cost."

GigaSpaces is demonstrating the next version of EAG at JavaOne in San Francisco (June 27-30), in Booth 415. GigaSpaces will showcase how a number of Fortune 500 companies, including one of the world's leading stock exchanges, several prominent investment banks, and a noted commodities exchange, are already benefiting from GigaSpaces technology.

About GigaSpaces
GigaSpaces is a fast-growing provider of innovative grid-based solutions that solve the performance, reliability & scalability problems of transaction-intensive, business critical applications. Among the company's customers are AIG, Nortel Networks, FXAll and Hutchison 3G, as well as other world-leading organizations in the financial, telecom and transportation industries. GigaSpaces was founded in 2000 and has offices in New York , London and Israel . It is part of the Formula Group (NASDAQ: FORTY), Israel 's largest publicly held IT company. For more information, please visit http://www.gigaspaces.com.

Editor's Note:  The 451 Group's report, "GigaSpaces Readies Development Model As Part of Next-generation Grid Middleware," referenced above, is an independently-produced report that was neither sponsored by nor otherwise funded directly by GigaSpaces.  The report and its entire contents are the sole property of The 451 Group, copyright 2005, and are reproduced here by permission.  The entire contents of this report are available at www.the451group.com.

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All trademarks and registered trademarks mentioned herein are the property of their respective owners.

For further information please contact:

Renee van Oostveen
GigaSpaces Technologies, Inc.
Tel: (646) 862-6935
Email: renee@gigaspaces.com

Christine Shock
Public Relations for GigaSpaces
Tel: (508) 893-9933
Email: cshock@shockpr.com




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