Board of Directors

Horacio Furman, Non-Executive Director

Horacio Furman is the CEO and founder of Prideway Holdings Ltd. And of Estevan International, Ltd., a telecommunications equipment marketing company that developed substantial new markets, primarily for Israeli high tech companies. Mr Furman previously was Executive Vice President for Projects at UDI, Inc., a trading company, where he was head of the China operations. Prior to that, Mr Furman held positions in Production and Marketing at ISCAR, Ltd. Mr Furman holds a B.Sc in Mechanical Engineering and a M.Sc in Materials Engineering from the Technion, Israels�s Institute of Technology, and an MBA from INSEAD, the European Institute of Business Administration in Fontainebleau, France.

Geoffrey Simmonds, Non-Executive Director

Geoffrey is a non-executive director of the Company and is chief executive officer of Westside and is non-executive chairman of York Pharma plc, both AIM traded companies. He qualified as a Chartered Accountant in 1966. He has extensive involvement and experience in corporate and strategic planning, acquisitions and finance. He holds various other private company directorships and was one of the founder shareholders and directors of United Trust & Credit Plc (now part of Carlisle Holdings Limited), UTC Trading Corporation Plc (subsequently renamed Hemingway Properties Plc) and Chelsea Flowers Plc (now part of Game Group Plc)

David Rubner, Non-Executive Director

David Rubner has served on our board of directors since 2001. Mr. Rubner is Chairman and Chief Executive Officer of Rubner Technology Ventures Ltd., a venture capital firm, and is a general partner at Hyperion Israel Advisors Ltd., a venture capital fund. Prior to founding Rubner Technology Ventures, Mr. Rubner served as President and Chief Executive Officer of ECI Telecommunications Ltd., a provider of telecommunications networking infrastructure solutions from September 1991 to February 2000. Prior to his appointment as President and Chief Executive Officer, Mr. Rubner held various management positions at ECI Telecom. Mr. Rubner serves as a member of the boards of directors of Check Point Software Technologies Ltd, Elbit Imaging Ltd., Radware Ltd. and a number of private companies. Mr. Rubner is also a member of the Board of Trustees of Bar-Ilan University and Shaare Zedek Hospital. Mr. Rubner holds a B.S. in Engineering from Queen Mary College, University of London and an M.S. in Electrical Engineering from Carnegie Mellon University, and he was a recipient of the Industry Prize in 1995.

Guy Levit, Executive Director, CEO

Guy Levit was appointed chief executive of the Subsidiary in July 2002. and was one of its founders in 1999. Prior to his current position he held various sales, marketing and operational positions within the Group. From 1996 until 1999 Mr. Levit was the head of the planning and development department of an elite technical unit in the Intelligence corps of the Israeli Defence Force (I.D.F). In this role Mr. Levit was in charge of budgets, project management and the design, development, implementation and maintenance of organisational, managerial and logistical information systems. Previously Mr. Levit was an engineer in the I.D.F R&D subdivision.

Irvin Fishman, Finance Director

.Mr Fishman qualified as a chartered accountant in 1974 and has been a Partner in Auerbach Hope, Chartered Accountants, since 1978. He held the position of Finance Director at Entertainment Rights Plc, a fully quoted public company for several years before more recently becoming a Non-Executive Director and Chairman of its Audit Committee.

Audit committee

The audit committee whose terms of reference cover matters recommended by the Code comprises H Furman and G Simmonds, and is chaired by H Furman. The committee is responsible for monitoring internal control throughout the Group, approving the Group’s accounting policies and reviewing interim and financial statements before submission to the main board. The committee is responsible for ensuring the independence and cost effectiveness of the company’s auditors and for reviewing the scope of work undertaken.

Remuneration committee

The remuneration committee whose terms of reference cover matters recommended by the code comprises H Furman and G Simmonds and is chaired by H Furman. The committee is responsible for determining contract terms, remuneration, share options and other benefits of executive directors and key personnel. In addition, the committee agrees the parameters of remuneration for all employees.