UltraShape Appoints Rodger Stewart as President and CEO

UltraShape Ltd., the first to market a proven non-invasive body
contouring treatment, announced today the appointment of Rodger
Stewart as President, Chief Executive Officer and a Member of the
Board of UltraShape Inc., its parent company. Stewart will be taking
the lead management position in UltraShape from Dr. Yoram Eshel Ph.D.,
co-founder, who served as UltraShape's Chief Executive Officer since
its establishment in 2000 and who announced his intentions to step
down as UltraShape CEO. Dr. Eshel will remain with UltraShape as Chief
Strategy Officer. Stewart's appointment will be effective on January
15, 2007.

Stewart previously served as President, North America Region, of
Sorin Group SpA, a $1B world leader in cardiac surgery and an
innovator in cardiac rhythm management, interventional cardiology and
chronic kidney disease. Previously, he served as President and Chief
Executive Officer of COBE Cardiovascular, Inc. with over $180M in
worldwide sales in cardiopulmonary and blood management, and as Chief
Executive Officer of Carbomedics with over $80M in worldwide sales of
heart valves and valve repair products.

"I am excited to join UltraShape, the first company to offer a
non-invasive body contouring treatment for proven circumferential
reduction. I am looking forward to the opportunity of leading
UltraShape through the transition from start-up to a dynamic, large,
and profitable company," stated Stewart.

Michael Berman, Chairman of the Board, stated, "With his vast
experience growing and managing well-established medical device
companies, Stewart will be able to steer UltraShape to its natural
position as market leader in the field of non-invasive body
contouring. His extensive experience building U.S. sales organizations
and launching new products and technologies in an FDA-regulated
environment will be instrumental in bringing the UltraShape(TM)
technology to the U.S. market."

About UltraShape

UltraShape, based in Israel, develops and markets the only
clinically proven and regulatory approved, non-invasive, long-lasting
body contouring solution. The UltraShape(TM) procedure has been used
successfully on thousands of patients around the world and has been
clinically demonstrated to deliver measurable results in a single
treatment. The company bases its solution on its unique therapeutic
focused ultrasound core technology. The company was founded in 2000 by
Dr. Ami Glicksman, a practicing plastic surgeon and Dr. Yoram Eshel, a
physicist. The company's first product, UltraShape(TM) Contour I
received the CE Mark in June 2005. The Company has worldwide offices
in United States, Israel, France, United Kingdom and Italy and is
currently being marketed in over 40 countries. For more information,
please visit www.ultrashape.com.