Goren replaces Ori Ben-Amotz, who is leaving ImageSat after three years to pursue other interests.

Menashe Broder, CEO of ImageSat International N.V., announced the appointment of Mr. Hagai Goren as the Company’s new Vice President and Chief Financial Officer.

“The addition of Hagai to our Management Team is very positive for the Company,” said Mr. Broder. “We welcome his corporate financial track record with both private and public companies in the international defense and high-tech sectors. We wish him luck in his new assignment.”

Before joining the Company, Mr. Goren served as Chief Financial Officer and Vice President in Nexus Telocation Systems Ltd. (OTC BB: NXUS.OB), a high-technology company specializing in low-energy, cost-effective wireless communications and location-based information systems.

Mr. Goren’s career in Corporate Finance spans nearly three decades, during which he served as Director of Finance and Treasurer of Scitex Corporation Ltd. (NASDAQ & TASE: SCIX), leading up to its merger with Creo Products Inc. (NASDAQ: CREO; TSX: CRE), and Director of Finance and Director of Subsidiary Activities (spin-offs and non-military new ventures) at Elisra Electronic Systems Ltd. He served for eleven years as Chief Financial Officer, Vice President and Company Secretary at Beit-Shemesh Engines Ltd., and as Director of the Financial Planning Department at Tadiran Ltd.

Mr. Goren holds a B.A. in Economics and an MBA in Finance from The Hebrew University of Jerusalem.

Mr. Goren replaces Mr. Ori Ben-Amotz, who is leaving ImageSat after three years to pursue other interests.

Source: ImageSat International N.V., Sept. 8, 2003