BackWeb
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Tel Aviv, Israel & Santa Clara, CA, March 7, 2014 — BackWeb Technologies Ltd. (OTC Pink: BWEBF) announced that at the Extraordinary General Meeting of Shareholders (EGM) held yesterday, shareholders overwhelmingly approved the Board's recommendation to liquidate the Company, cease operations and appoint Mr. Yoav Kfir as the liquidator who will wind up the Company and return all remaining cash, after expenses, to shareholders.

From this point forward, Mr. Kfir will assume all powers of the Company's Board of Directors. He will collect the Company's assets and satisfy its obligations, including to any tax and governmental authorities. BackWeb's advisors indicate that a voluntary liquidation process in Israel may typically take 6-12 months following the shareholder approval at the EGM, assuming no special issues arise with third party creditors or with tax and governmental authorities (the Company is not aware of any such issues). As the liquidation process moves forward, Mr. Kfir will contact shareholders and will distribute to shareholders the forms that they will need to complete in order to satisfy tax requirements and claim entitlement to the liquidating distribution.

"We thank BackWeb's shareholders for their confidence in the Company and management throughout the years," said BackWeb's acting CEO, Bill Heye. "The liquidator will now take the appropriate steps to complete the process and make the liquidating distributions in a timely manner."