GigaSpaces Selected as 2006 Codie Awards Finalist
1/31/2006

GigaSpaces Selected as 2006 Codie Awards Finalist
GigaSpaces' Achievement and Vision Stands Out In Highly Competitive Field of Nominees

New York, NY -GigaSpaces Technologies, a fast-growing provider of innovative, high-performance infrastructure software solutions, today announced that it has been selected as a finalist in the 21st Annual Codie Awards competition run by the Software & Information Industry Association (SIIA). GigaSpaces is a finalist in the highly competitive "Best Distributed Computing Solution" category. Codie Awards finalists are recognized for their outstanding achievement and vision within their industry.

"The 21st Annual Codie Awards continue the tradition of honoring the best of the software, information and education technology industries," said Ken Wasch, SIIA President. "When one considers the number of outstanding companies that competed this year, being named a Codie Finalist is a significant achievement."

Codie Award finalists are chosen through a combination of journalist and peer review in 71 categories of products and services, as well as corporate excellence and philanthropy. There were more than 1,026 nominations submitted by more than 500 companies for this year's competition.

"We're very proud that GigaSpaces has been chosen by such a respected group of judges as a finalist in this year's competition," said Yaron Benvenisti, CEO of GigaSpaces. "This provides another validation that our growing list of customers are indeed investing in a solution with industry-recognized technical excellence."

About SIIA
The Software & Information Industry Association (SIIA) is the principal trade association for the software and digital content industry. SIIA provides global services in government relations, business development, corporate education and intellectual property protection to more than 800 leading software and information companies. For more information, visit www.siia.net.

About GigaSpaces
GigaSpaces provides innovative, high-performance infrastructure software solutions that deliver unparalleled dynamic scalability for high-volume transactional applications, without the overhead and complexity inherent in traditional multi-tier development and deployment environments.

Its award-winning solutions have been adopted across multiple vertical industries and are used by companies such as Nortel, Hutchison 3G, Societe Generale, Virgin Mobile, FXall and others for mission-critical applications, where the need for extreme performance, reliability and scalability necessitates an alternative to traditional tier-based architectures. 

GigaSpaces was founded in 2000 and has offices in New York, London and Israel. It is a privately held company, funded by BRM Capital, Formula Vision and Intel Capital. GigaSpaces is an affiliated company of the Formula Group (NASDAQ: FORTY), Israel's largest publicly held IT group. For more information, please visit www.gigaspaces.com

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All trademarks and registered trademarks mentioned herein are the property of their respective owners.

For further information please contact:

Ziv Leshem
GigaSpaces Technologies, Inc.
Tel: (646) 862-6935
Email: ziv@gigaspaces.com

________________________________________
Christine Shock
Public Relations for GigaSpaces
Tel: (508) 893-9933
Email: cshock@shockpr.com




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