Sapiens Acquires Harcase, a P&C Insurance Software Provider

Acquisition Signals Sapiens' Goal to Become a Recognized Market Leader in the Insurance Software Solutions Industry

CARY, North Carolina, April 28, 2010 - Sapiens International Corporation N.V., a global provider of
insurance software solutions, announced today that it has acquired Harcase
Software, a provider of software solutions to the North American insurance
industry. The acquisition brings together Harcase's RapidSure Policy
Administration Solution for property and casualty carriers and Sapiens'
experience, expertise and proven track record in the insurance industry.
Harcase recently merged with Octello, an enterprise software and professional
services provider.

The Harcase acquisition is one of the cornerstones in Sapiens'
known strategy to expand its market share in the insurance software industry.
Focusing on establishing a stronger footprint in the North American market,
Sapiens' goal is to become a global market leader, delivering high value,
high quality insurance software solutions.

"This acquisition is a good marriage of Sapiens' longtime
presence in the US market and the thoroughly modern RapidSure solution," says
Chad Hersh, a Principal at analyst firm Novarica. "As a fully modern solution
with robust functionality, support for open standards, and a service oriented
approach, RapidSure should help provide numerous benefits to carriers,
including improved speed-to-market and lower total cost of ownership."

The RapidSure suite supports commercial, personal and
specialty line products. Leveraging component-based Service Orient
Architectures, RapidSure allows carriers to progressively remodel their IT
Enterprise Architecture. The suite includes a comprehensive policy
administration system with an innovative product configuration system that
enables quick time to market for new products, and a point-of-sale portal to
support multiple distribution channels and collaboration. We will continue
our development efforts to remain at the technological forefront of the
insurance software industry."

"We are very pleased to welcome the Harcase team that joins
Sapiens today," said Roni Al-dor, CEO of Sapiens. "This is an important
acquisition for Sapiens. This transaction is aligned with our long-term
strategy in the Insurance market to make Sapiens a household name and the
vendor of choice among insurance carriers. We expect Harcase to provide us
with the platform to strengthen our position in North America and in the
Property and Casualty segment globally, and contribute to our revenue
growth."

"The combination of Sapiens' and Harcase's resources,
products, and experience enables us to deliver a powerful value proposition
to insurance carriers," said Dan Sobotincic, Founder, President and CEO of
Harcase, who will now head Sapiens P&C Insurance Division." I strongly
believe that the synergies between the two organizations will significantly
expand the market footprint for the RapidSure suite as well as the Sapiens
name. We will continue our development efforts to remain at the technological
forefront of the insurance software industry."

About Sapiens

Sapiens International Corporation N.V. is a leading global
provider of business solutions for the insurance industry, helping modernize
business processes and enabling insurance organizations to adapt quickly to
change. Sapiens' innovative insurance software solutions are widely
recognized for their ability to cost-effectively align IT with the business
demands for speed, flexibility and efficiency. Sapiens operates through its
subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific.
Sapiens International Corporation N.V. is publicly traded in NASDAQ and TASE
under the symbol SPNS. Visit www.sapiens.com.

About Harcase Software

Established in 2003, Harcase Software is dedicated to
providing enterprise software development resources and products to the
Property and Casualty insurance industry called RapidSure. The RapidSure
suite was already embraced by several large carriers. Backed by an
experienced management team with over 20 years of experience in enterprise
solutions to the global insurance market, Harcase understands the business
pressures and challenges faced by insurers and delivers solutions that meet
and anticipate their needs.

Except for historical information contained herein, the
matters set forth in this release are forward-looking statements that are
dependent on certain risks and uncertainties, including such factors, among
others, as market acceptance, market demand, pricing, changing regulatory
environment, changing economic conditions, risks in new product and service
development, the effect of the Company's accounting policies, specific system
configurations and software needs of individual customers and other risk
factors detailed in the Company's SEC filings.

    FOR ADDITIONAL INFORMATION:

    Osnat Segev-Harel
    VP Business Development and Marketing
    Sapiens International
    Tel: +972-8-938-2721
    osnat.se@sapiens.com

    Roni Al-Dor
    Chief Executive Officer
    Sapiens International
    Tel: +972-8-938-2721
    IR.Sapiens@sapiens.com

FOR ADDITIONAL INFORMATION: Osnat Segev-Harel, VP Business Development and Marketing, Sapiens International, Tel: +972-8-938-2721, osnat.se at sapiens.com; Roni Al-Dor, Chief Executive Officer, Sapiens International, Tel: +972-8-938-2721, IR.Sapiens at sapiens.com