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THE WORLD ECONOMIC FORUM ANNOUNCES TECHNOLOGY PIONEERS 2008:
Speedbit SELECTED

Tel Aviv 29 November 2007 – The World Economic Forum today announced 39 visionary companies selected as Technology Pioneers 2008. Speedbit has been selected as one of these Technology Pioneers. The Technology Pioneers 2008 were nominated by the world's leading technology experts, including venture capitalists, technology companies, academics and media. The final selection from 273 nominees was made by a panel of leading technology experts appointed by the World Economic Forum. Technology Pioneers 2008 are invited to participate in the World Economic Forum Annual Meeting 2008 that will be held in Davos, Switzerland, from 23-27 January and in the Annual Meeting of the New Champions that will be held in Tianjin, People's Republic of China from 25-27 September 2008.

Speedbit LTD, Israel

Ariel Yarnitsky, Chief Executive Officer (CEO).

Speedbit holds the patent for the multi channel download technology which has been installed 150 million times on PC's around the world. Download Accelerator Plus (DAP) and Speedbit Video Accelerator leverage Speedbit's multi-channel technology and dynamic management algorithms to optimize users' bandwidth, making video/content streaming and downloading happen faster over multiple internet connections, rather than in a single stream. The end result is smooth video content, without picture freezes, buffering breaks or pauses and up to 10 times faster downloads.

Speedbit's chief executive officer Ariel Yarnitsky: "We are honoured to be elected and are working hard every day, with our partners, to bring our technology and optimize the delivery of video and data to additional platforms – cellular phones, game consoles, TV set top boxes, modems and more"

Technology Pioneers are companies that have been identified as developing and applying highly transformational and innovative technologies in the areas of energy, biotechnology and health, and information technology. To be selected as a Technology Pioneer, a company must be involved in the development of life-changing technology innovation and have the potential for long-term impact on business and society. In addition, it must demonstrate visionary leadership, show all the signs of being a long-standing market leader – and its technology must be proven. Previous Technology Pioneers have included Business Objects, Cambridge Silicon Radio, Corel Corporation, Encore Software, Google, Mozilla Corporation and Napster.

The companies' products and services include identity management on the Internet, understanding of individuals' genetic information, robotic radiosurgery, pollution control materials, low-cost remote diagnosis solutions, virtual interface technologies, wiki-based projects and next-generation business intelligence solutions.

Twenty-three of the Technology Pioneers 2008 are US-based companies. Israel and the United Kingdom each boast three; Sweden and Switzerland two each; Canada, France, Germany, India, the Netherlands and Russia, one each. Technology Pioneers are nominated in three main categories: Energy/Environment, Biotechnology/Health and Information Technology.

The entire list of Technology Pioneers and interviews with the CEOs of the selected companies can be found here: http://www.weforum.org/content/pages/list-technology-pioneers-2008.

"This year the World Economic Forum received a record number of applications from companies around the world to become a Technology Pioneer. From a highly competitive field, we are extremely pleased to have a community that is using innovation and technology to dramatically affect the way society and business operate and doing so in a markedly collaborative manner. We are excited to welcome the Technology Pioneers class of 2008 to the larger community of the World Economic Forum and we are looking forward to the fruits that their collaboration will bring," said Peter Torreele, Managing Director of the World Economic Forum.

The selection criteria include:

1. Innovation. The company's technology must be truly innovative. A new version or repackaging of an already well-accepted technological solution does not qualify as an innovation. The innovation should be recent – not more than two years old. The company should invest significantly in R&D.
2. Potential Impact. The company's technology must have the potential to have a substantial long-term impact on business and society in the future.
3. Growth and Sustainability. The company should have all the signs of being a long-term market leader and should have well-formulated plans for future development and growth.
4. Proof of Concept. The company must have a product on the market or have proven practical applications of the technology. Companies in "stealth" mode and companies with untested ideas or models will not qualify.
5. Leadership. The company must have visionary leadership that plays a critical role in driving the company towards reaching its goals.
6. Status. The company must not currently be a Member of the World Economic Forum. This criterion applies to the parent company – thus wholly-owned subsidiaries of large firms are not eligible.

Speedbit Video Accelerator's technology currently supports iTunes as well as over 60 video sites, and will down the road, support all data transfer – browsing, streaming and downloading from any site. Speedbit is already working on supporting more proprietary rich media download services similar to iTunes (Premium) such as Amazon's UnBox and Wal-Mart's video download service etc. As well as mobile phones and game consoles, Speedbit intend to deliver multi channel technology to even more platforms such as set top boxes and communication infrastructure equipment.

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About the World Economic Forum

The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas.

Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. (www.weforum.org)

Notes to Editors:

• Go to http://www.weforum.org/content/pages/list-technology-pioneers-2008 for the entire list of Technology Pioneers and interviews with the CEOs of the selected companies. For more specific information, please e-mail: tech.pioneers@weforum.org.
• Download print-quality high resolution photographs of the CEOs of the selected companies at: http://www.pbase.com/forumweb/techpioneers2008
• Nominate a company to be a Technology Pioneer 2009 at: www.weforum.org/pdf/techpioneers/nomination_form_2008.pdf. Deadline for submissions is May 2008.

For immediate release contact Public Relations - pr@speedbit.com

For more information please visit our web site at - www.speedbit.com