Magnum Venture Capital Changes Name to Magma Venture Partners

Magnum Venture Capital Fund, which specializes in Early Stage
investments in Israeli related communications and semiconductor
companies announces the changing of its name as of today to "Magma
Venture Partners." The company is also changing its logo scheme to
reflect its new name and continued vision.

"The name change to Magma Venture Partners comes as a result of
other funds possessing the Magnum brand and is in line with the
closing of the General Partner's second fund - Magma II" said Yahal
Zilka, Co-Founder and Managing Partner. We believe that Israel will
continue to be a leading center for the development of communications
and semiconductor technology in the coming years, and as the leading
investment fund focused in this field, we plan to continue invest in
outstanding, innovative companies. The communications and
semiconductor field, in its broad sense, represents fifty to sixty
percent of technological investments in Israel and we see continued
innovation within these industries. Magma Venture Partners, by means
of its four partners, has extensive experience in the communication
industry as well as venture capital investment and is proud of its
ability to nurture ideas from early-stage concepts to well-developed
companies, each leading in its domain. Modi Rosen, co-founder and
Managing Partner of Magma, added insight on the Fund's unique
strategy; "We are distinguished by our close relationships with
managers and leaders in the global communication industry as well as
our technical and strategic expertise in identifying emerging trends
in the world of communication and semiconductors. All of these aspects
and more help us create successful synergy with entrepreneurs and
build the foundations for successful companies, from concept through
exit."

About Magma Venture Partners:

Magma Venture Partners is a venture capital fund specializing in
Early Stage investments in the Israeli related communications and
semiconductor industry, the largest sector within technological
investments in Israel. Magma invests in fields such as: wireless
networking, network infrastructure, communication technology
semiconductors, security and data storage, and software applications.
Magma Venture Partners currently manages US$180 Million in two funds,
Magma I and II. Magma I was established in 1999 and raised 75 million
dollars and Magma II was established in 2006 with US$ 105 Million. The
Fund's four partners include: Yahal Zilka, Modi Rosen, Shraga Katz,
and Eitan Dekel. Some of the Magma's leading portfolio companies
include: Wintegra, Extricom, Provigent, Phonetic Systems (acquired by
Nuance; NASDAQ: NUAN) Trivnet, Outsmart, Crescendo Networks, and
ConnectOne. Following its establishment in 2006, Magma II invested in
Siverge Networks and DesignArt Networks.

For more information please visit our website: www.magmavc.com