Softlib Europe at Athena High Technology Incubator

Nicosia, Cyprus - October 18, 2004. Softlib Ltd. (Israel) announces the establishment of its European fully owned subsidiary, Softlib Europe Ltd to be based out of Athena High Technology Incubator in Nicosia, Cyprus. Softlib Europe will engage in the business development and distribution of iDoc, the company’s flagship product, in the European market. The proximity of Cyprus to Israel, Cyprus’ favorable business environment and Cyprus recent accession to the European Union have been key factors to the company’s decision for locating in Cyprus. Yiannis Stylianou has been named as the Business Development Manager of the Softlib Europe.

iDoc is designed to be the leading solution for IT departments in their effort to better manage their technical libraries. Potential clients include, among others, banks, insurance and telecommunication companies as well as organizations with large development and application departments in general.

The benefits of iDoc include, but not limited:
1.Significant improvements in the development and maintenance by streamlining information access and retrieval.
2.Acceleration of problem resolution by providing single point of entry and a single federated search engine across the entire technical library irrespective of vendor and/or format.
3.Reduction of bottlenecks and improvement in productivity by enhancing programmer self sufficiency and allowing them to focus on “real” challenges of software development.
4.Automation of the management process required in dealing with technical documentation libraries with powerful tools that keep the content accurate, up to date and relevant.

The return on investment for all potential clients is estimated to be less than one year. iDoc is already installed and operational at leading financial and telecommunications companies of Israel such as Bank Leumi and Bezeq.

About Softlib
Founded in Jerusalem, Israel in 2000, Softlib is an innovative provider of customized technical libraries for the enterprise. The company’s iDoc application is a customized technical library housing all technical and reference manuals used by the enterprise. iDoc v2.2 is currently available in either client/server or web-based versions. Softlib’s clients include Bezeq Telecommunications, several of Israel's largest banks and Israel’s Ministry of Social Affairs. Since its founding in 2000, Softlib has received research and development funding from the Israeli incubator Docor-Shalem Technology Entrepreneurship Center. This early stage involvement and confidence in Softlib and its executives lead Docor to continue its association and facilitate the first round of venture funding.

Athena High Technology Incubator Ltd. (AHTI) is an international for profit business incubator with focus on seed and early stage companies in Information & Communication Technologies (ICT). Through its infrastructure, provision of value added services, close ties with venture capitalists and partnerships with internationally acclaimed organizations, AHTI steers the tenant companies operationally and strategically so as to accelerate their development and drive them to sustained, profitable growth. For more information, please contact Svetlana Kalogera.