Valor has generated proceeds of EUR 42m. Dresdner Kleinwort Benson managed the flotation as Lead Manager and Sole Bookrunner. Hauck & Aufhaeuser was also a member of the issuing syndicate.

The funds accruing from the IPO will be used to finance future growth of their portfolio of innovative software engineering solutions for PCB design-to-manufacturing supply chains.

Valor is a worldwide leader in providing software business productivity tools throughout the design to manufacturing PCB electronics supply chain. The company generated global sales of approximately USD 25 million in fiscal 1999 and currently has 163 employees.

Valor’s powerful software products, based on ODB++, the Valor founded data format which has quickly become the format of choice for data exchange, ensure the rapid transfer of optimized data from design through manufacturing output. Enterprise 3000 DFX system for PCB designers, Trilogy 5000 engineering system for assembly and test, and the breakthrough Valor Parts Library on-line data service provide accessible, coherent planning resources and improvements in tooling efficiencies. The result is shortened cycle time driven by a significant boost in productivity and quality. More information about the company can be found at http://www.valor.com.

The information above appears as a matter of record only and does not constitute an offer of securities for sale in the United States of America. The ordinary shares of Valor Computerized Systems Ltd. have not been registered under the securities laws of the United States and may not be sold in the United States, or to a U.S. person, except pursuant to registration or under an exemption from the registration requirement of the U.S. securities laws.

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