EXHIBIT 99.1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended, each of the parties hereto agrees with the other parties that the Statement on Schedule 13G pertaining to certain securities of...

                                                                 EXHIBIT 99.1

                            JOINT FILING AGREEMENT

         In accordance with Rule 13d-1(k) of the Securities Exchange Act of
1934, as amended, each of the parties hereto agrees with the other parties
that the Statement on Schedule 13G pertaining to certain securities of Formula
Systems (1985) Ltd. to which this agreement is an exhibit is filed by and on
behalf of each such party and that any amendment thereto will be filed on
behalf of each such party.

Date:  June 13, 2002

                               ORWER LTD.


                               By: /s/ Xxxxxx Xxxxxxxx
                                    ___________________
                                Name:  Xxxxxx Xxxxxxxx
                                Title: President and Chief Executive Officer



                                /s/ Xxxxxx Xxxxxxxx
                                ___________________
                                Xxxxxx Xxxxxxxx



                                /s/ Xxxx Xxxxxxxx
                                ___________________
                                Xxxx Xxxxxxxx