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Panorama Software Highlights First Half of 2007 with 42 Percent Revenue Growth

Leading BI Vendor Continues to Strengthen and Grow Business with the Addition of New Partners, Customers and Proactive Business Intelligence Products

Toronto, Ontario – August 1, 2007 – Panorama Software, a global leader in Proactive Business Intelligence (PBI) solutions, today announced significant results for the first half of 2007.  In the first two quarters of this year, Panorama saw significant and stable financial growth with a 42 percent increase in revenue over this time last year.  Moving into the second half of 2007, the Company demonstrates consistent and strong growth, as it continues to expand its global presence through new strategic partnerships, customer agreements and innovation through Proactive Business Intelligence (PBI) products.  Panorama continued to build its client portfolio in a variety of sectors, and significantly increased its presence in the manufacturing, financial and telecommunications markets.

“Since we started offering our robust solutions on top of the two most pervasive BI platforms, SAP NetWeaver BI (BW) and Microsoft SQL Server Analysis Services, we have been able to capture significant market share in the manufacturing industry, and we continue to build our presence by providing customers the most advanced tools to streamline their critical lines of business,” said Eynav Azarya, CEO, Panorama Software.  “In the first half of 2007 Panorama empowered some of the world’s leading enterprises to make their business better.  Through our recently introduced PBI vision, we enable manufacturing giants to leverage their SAP data for better decision-making and performance management across their enterprises.”

Panorama Software also saw significant partner growth in the first two quarters of 2007, which enabled them to expand their global footprint to Asia and Eastern Europe.  Panorama signed strategic agreements with SAP Partners in North America, as well as partners around the world including OCT, a full-service IT consulting firm in Japan; Spiral Solutions, an interactive marketing agency currently focused on Eastern Europe’s business community; and Digital Design, a Russian-based software development company.

In addition, Panorama recently demonstrated its objective to integrate BI and business performance management (BPM) and enable NovaView® Server to become a platform for any BPM application to tie into by joining the Pega Exchange from Pegasystems, the industry leader in BPM.

”Panorama realizes that organizations are looking for a more process-centric form of BI, and this can be achieved through the introduction of performance management,” said Oudi Antebi, VP Marketing and Strategy, Panorama Software.  “The strategic collaboration with Pegasystems enables us to converge BI and BPM to provide a more focused approach to business, so managers can take analytical insights from BI and turn them into strategic processes and actions.  Our collaboration with Pegasystems demonstrates Panorama’s commitment to working with other industry leaders to empower enterprises to experience the ultimate ROI for their organization.”

Panorama also launched the Panorama BI Virtual Appliance, an initiative that enables customers to test drive and deploy a full-featured version of the Company’s flagship solution, Panorama NovaView®. The Panorama NovaView® Virtual Appliance is pre-configured, pre-installed, and ready-to-run on virtual server technology.  The Virtual Appliance provides companies with a unique way to test and experience the power of Panorama NovaView® in their own environment.  To deliver the Virtual Appliance, Panorama launched the BI challenge, a world wide campaign that challenged users to deploy and test the NovaView® suite, and compare it against other comparable products in the market.  The BI Challenge was designed to provide users the ability to see first-hand that Panorama offers the most comprehensive solutions for the best value.

About Panorama Software

Panorama Software empowers global organizations with the ability to rapidly identify trends, maximize business opportunities and improve corporate performance and results through enterprise business intelligence and Proactive Business Management solutions.  Panorama® NovaView™, the company’s flagship solution, amplifies the impact of the information worker through a tightly integrated and complete suite of analysis, reporting, scorecard, dashboard and data modeling applications that support the two leading Business Intelligence platforms, SAP (NYSE: SAP) and Microsoft (NASDAQ: MSFT).   Through Panorama NovaView, end users are empowered to freely explore their data using scalable and intuitive applications.

Founded in 1993, Panorama is a leading innovator in Online Analytical Processing (OLAP) and Multidimensional Expressions (MDX). Panorama sold its OLAP technology to Microsoft Corporation in 1996, which was rebranded as SQL Server Analysis Services and integrated into the SQL Server platform.  Panorama supports over 1,000 customers worldwide in industries such as financial services, manufacturing, retail, healthcare, telecommunications and life sciences.  Panorama has a wide eco-system of partners in 30 countries, and maintains offices throughout North America, EMEA and Asia. More information is available at www.panorama.com

*All cited names and/or trademarks are the property of their respective owners.

Panorama NovaView® and the Panorama logo are trademarks or registered trademarks of Panorama Software Ltd. All other company, product or brand names are the trademarks or the registered trademarks of their respective companies. Panorama Software Ltd. is not responsible for errors or omissions. Copyright 2006 Panorama Software Ltd. All rights reserved.