Sphera Corporation, the leading global provider of Web hosting automation and management software, today announced a summary of operational results from 2002 and its pursuit of a new CEO. In the interim, Adi Pundak-Mintz, member of Sphera's board of directors and partner in Gemini Israel Venture Funds, will fill the position of acting CEO replacing Tamar Naor.

"Sphera surpassed all of its operational goals and revenue commitments in 2002," says Phil Koen, chairman of Sphera's board of directors. "Tamar has helped the company establish itself as the premier choice for integrated hosting operations. We appreciate Tamar's leadership and thank her for her significant contributions. The right next step is to find a CEO that is tapped into the US market and can help us forge new relationships and grow our business."

In 2002, Sphera experienced triple revenue growth over the previous year, added over 100 leading Web hosting providers to its client roster, solidified strategic relationships with IBM and Microsoft and closed second round funding of $20 million dollars. In addition, the company launched HostingBusiness Suite(TM), a comprehensive Web hosting and management solution including HostingDirector(TM) and ResellerDirector(R). Sphera's solution has already proved its ability to drive new customer acquisitions, increase existing customer loyalty, and help clients reduce operating expenses up to 30%.

About Sphera

Sphera Corporation is a global leader in Web hosting automation and management software. Sphera provides value to hosting providers and resellers through service differentiation, increased operational efficiencies, enhanced customer satisfaction and increased profitability. Sphera's HostingBusiness Suite, which includes HostingDirector and ResellerDirector, delivers immediate ROI by generating new revenue opportunities, slashing costs and winning customer loyalty. Headquartered in Newton, MA, with EMEA offices in London, Sphera is backed by well-established global venture capital firms including JVP, TLcom Capital Partners, Gemini Israel Funds, Vision Capital, Bank of America, and Reuters Greenhouse Fund. For more information, visit www.sphera.com, or call 1-866-SPHERA-1.

Sphera, HostingBusiness Suite and HostingDirector are trademarks of Sphera Corporation. All other trademarks are the property of their respective owners and used for identification purpose only.