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Leon Recanati Resigned From the Board of Scitex Corporation

Wednesday, May 21, 2003

Press release from the issuing company

TEL AVIV, Israel, May 20 -- Scitex Corporation Ltd. announced today that Leon Recanati has stepped down from the Board of Directors of Scitex, following the closing of the sale by companies controlled by the Recanati family of a majority interest in IDB Holding Corporation Ltd. IDB Holding is the ultimate parent company of Scitex's two principal shareholders, Clal Electronics Industries Ltd. and Discount Investments Corporation Ltd. Mr. Recanati had been a Director of Scitex since 1988. Meir Shannie, Chairman of the Board of Scitex, commented: "Mr. Recanati has made a substantial and valuable contribution to Scitex throughout his fifteen years on its Board, and during which Scitex has gone through a great many changes. We thank him for his contribution, leadership and experience and wish him all the best for the future."

 

 

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