Magic Announces Proposed Public Offering of its Ordinary Shares

       Magic Announces Proposed Public Offering of its Ordinary Shares

PR Newswire

OR YEHUDA, Israel, Feb. 27, 2014

OR YEHUDA, Israel, Feb. 27, 2014 /PRNewswire/ -- Magic Software Enterprises
Ltd. (NASDAQ and TASE: MGIC) (the "Company"), a global provider of mobile and
cloud-enabled application development and business integration platforms,
announced today its intention to offer and sell ordinary shares of the Company
in an underwritten offering pursuant to its existing shelf registration
statement. The Company intends to grant to the underwriters an option to
purchase additional ordinary shares of the Company to cover over-allotments in
connection with the offering.

The Company intends to use the net proceeds of the offering for general
corporate purposes, which may include, among other things, funding of its
working capital needs and funding of potential acquisitions.

Barclays Capital Inc. and William Blair & Company, L.L.C. are acting as joint
book-running managers for the offering and Maxim Group LLC and H.C. Wainwright
& Co., LLC are acting as co-managers for the offering. The offering is
subject to market conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or terms of the
offering.

The shares described above are being offered by the Company solely pursuant to
a registration statement (including a prospectus) previously filed with and
subsequently declared effective by the Securities and Exchange Commission, or
SEC. A preliminary prospectus supplement relating to the offering will be
filed with the SEC and will be available on the SEC's website at
http://www.sec.gov.

Before you invest, you should read the prospectus included in the registration
statement, the preliminary prospectus supplement and the other documents the
Company has filed or will file with the SEC for more complete information
about the Company and this offering. You may obtain these documents for free
by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of
the preliminary prospectus supplement, when available, and accompanying base
prospectus relating to this offering may be obtained from Barclays Capital
Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717, telephone: (888) 603-5847, email: Barclaysprospectus@broadridge.com.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any of the securities described herein, nor shall there be
any sale of these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.

About Magic Software Enterprises

Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) is a global provider
of mobile and cloud-enabled application development and business integration
platforms.

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed
in this news release include forward-looking statements that may involve a
number of risks and uncertainties. Actual results may vary significantly based
upon a number of factors including, but not limited to, risks in product and
technology development, market acceptance of new products and continuing
product conditions, both here and abroad, release and sales of new products by
strategic resellers and customers, and other risk factors detailed in the
Company's most recent annual report and other filings with the Securities and
Exchange Commission. These forward-looking statements are made only as of the
date hereof, and the Company undertakes no obligation to update or revise the
forward-looking statements, whether as a result of new information, future
events or otherwise.

Magic is a registered trademark of Magic Software Enterprises Ltd. All other
product and company names mentioned herein are for identification purposes
only and are the property of, and might be trademarks of, their respective
owners.

SOURCE Magic Software Enterprises Ltd.

Contact: Amit Birk, VP M&A and General Counsel, Magic Software Enterprises,
Tel: +972 (3) 538 9322, abirk@magicsoftware.com
 
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