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Panorama Software Reports Record Year-End Results; Expands Leadership Team to Manage Positive Momentum

Business Intelligence Software Company Achieves Five-Fold Revenue Growth, Furthers Relationship with Microsoft and Adds Marquee Customers to Client Roster

TORONTO (03/18/04) – Panorama Software, a leader in business intelligence (BI) solutions for the Microsoft platform, is highlighting results of a successful 2003, which has led to a series of executive management appointments, the addition of new sales offices and expansion of the company's global distribution channel through 25 new partners. Panorama grew revenues by more than 200 percent in 2003, supported by 85 new customers within financial services, manufacturing, retail, telecommunications and health care markets.

To support the company's forward momentum, Panorama has appointed Eynav ‘Navi' Azarya as chief executive officer. Azarya will work in conjunction with the company's founder and chairperson, Rony Ross, and the company's extended executive team, to position Panorama as the industry's leading provider of business intelligence and corporate performance management (CPM) solutions that expose, enable and extend the value of the Microsoft BI Platform. Panorama NovaView™ integrates analysis, enterprise reporting and corporate performance management applications into one comprehensive solution, enabling all decision makers to make the best possible decisions, anywhere at anytime.

"2003 was a year of tremendous achievement for Panorama, one that made the industry stand up and take notice," said Ross. "We established a strong footprint in North America, and executed on our plan to continue our financial growth, build our channels and expand our customer base. We also extended our product offering beyond our traditional analytics space. Under Navi's leadership, we expect 2004 will also be a year of great success and strategic breakthroughs."

2003 Recap And Azarya Appointed CEO - 2

New Strategic Executive Team On Board

Azarya was appointed as CEO from his previous position with Panorama as vice president of international sales and partnerships. His tenure with the company began in 2001, and since then, he has been responsible for the restructuring and expansion of Panorama's sales and partner programs, while also overseeing the company's operations.

"We are proud of the solid team and proven product we've built," said Azarya. "We are even more proud of the impact that we've had in helping our customers achieve great business results. I look forward to the opportunity to help take Panorama to the next level in becoming a leader in business intelligence solutions for the Microsoft platform." 

With continued growth of the company's operations throughout the Americas, Europe and the Middle East, Panorama expanded its strategic leadership team to carry the company forward. Kobi Averbuch was appointed vice president of Panorama's R&D team, having served as director since 1996. Averbuch has led the Panorama's R&D team since 1997 and was responsible for the design and development of NovaView. Mike Delgado, who joined Panorama in early 2003, was promoted to Director, Sales and Alliances, Americas. Delgado is a senior sales veteran with over 15 years of experience, making him a perfect compliment to Panorama's expansion efforts in the States.

Catherine Playford joined as the company's vice president of finance, bringing 15 years of extensive expertise in financial and operational management, strategic business planning and contract negotiations to Panorama. Prior to her arrival at Panorama, Playford held senior finance positions with companies including Newstar Technologies and Minicom Data Corporation.

Finally, Dr. Allon Cohen joined Panorama as director, product management. In this role, Dr. Cohen plans, executes and manages all new product introductions, while ensuring the quality and ongoing functionality of existing products. Prior to joining the Panorama team, Dr. Cohen was vice president, technology development, for FLIXEL Ltd., which developed a revolutionary display based on Micro-Electro-Mechanical System (MEMS) technology.

Successful Relationship With Microsoft 

Panorama has continued to expand its alliance with Microsoft Corporation. The company is a Microsoft Gold Partner, and Panorama NovaView completed Microsoft's SQL Server DWA Certification for Query Reporting. Most recently, Panorama released NovaView™ for Microsoft SQL Server 2000 Reporting Services in conjunction with Microsoft's launch efforts and actively participated in joint presentations on the value of the Microsoft platform and Panorama's solutions.

Throughout the year, global brands looking to achieve the best possible business results from their BI implementations continued to turn to Panorama. A sampling of new NovaView customers includes ADP, Altera, Barclay's Bank, Phillips Consumer Electronics and HCR ManorCare.

About Panorama Software

Panorama Software's NovaView™ business intelligence (BI) solution enables companies to rapidly create analysis, enterprise reporting, and performance measurement solutions and deploy them to all decision makers throughout the organization. NovaView provides access to data from any source and extends the Microsoft® platform. Panorama Software, a recognized innovator in the business intelligence market, supports customers worldwide in industries such as financial services, retail, healthcare, telecommunications, and manufacturing. The company provides solutions with its more than 100 partners in 30 countries and maintains sales offices throughout North America, Europe and the Middle East. For more information, visit www.panoramasoftware.com.

Panorama NovaView® and the Panorama logo are trademarks or registered trademarks of Panorama Software Ltd. All other company, product or brand names are the trademarks or the registered trademarks of their respective companies. Panorama Software Ltd. is not responsible for errors or omissions. Copyright 2006 Panorama Software Ltd. All rights reserved.