<SUBMISSION>
<ACCESSION-NUMBER>0001178913-06-001724
<TYPE>SC TO-I/A
<PUBLIC-DOCUMENT-COUNT>2
<FILING-DATE>20060918
<DATE-OF-FILING-DATE-CHANGE>20060918
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>CHECK POINT SOFTWARE TECHNOLOGIES LTD
<CIK>0001015922
<ASSIGNED-SIC>7372
<IRS-NUMBER>943229135
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I/A
<ACT>34
<FILE-NUMBER>005-50015
<FILM-NUMBER>061095914
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3A JABOTINSKY ST
<STREET2>RAMAT GAN 52520
<CITY>ISRAEL
<STATE>L3
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>THREE LAGUON DRIVE, SUITE 400
<CITY>REDWOOD
<STATE>CA
<ZIP>94065
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>CHECK POINT SOFTWARE TECHNOLOGIES LTD
<CIK>0001015922
<ASSIGNED-SIC>7372
<IRS-NUMBER>943229135
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>SC TO-I/A
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3A JABOTINSKY ST
<STREET2>RAMAT GAN 52520
<CITY>ISRAEL
<STATE>L3
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>THREE LAGUON DRIVE, SUITE 400
<CITY>REDWOOD
<STATE>CA
<ZIP>94065
</MAIL-ADDRESS>
</FILED-BY>
<DOCUMENT>
<TYPE>SC TO-I/A
<SEQUENCE>1
<FILENAME>zk62918.htm
<TEXT>
<HTML>
<HEAD>
     <!-- Created by EDGAR Ease Plus (EDGAR Ease+) -->
     <!-- Project:        \\backup\office\EDGAR Filing\Check Point Software Technologies Ltd\62912\a62912.eep -->
     <!-- Control Number: 62912                                                            -->
     <!-- Rev Number:     1                                                                -->
     <!-- Client Name:    Check Point Software Technologies Ltd                            -->
     <!-- Project Name:   SC TO-I                                                          -->
     <!-- Firm Name:      Zadok-Keinan Ltd                                                 -->
     <TITLE>SC TO-I</TITLE>
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<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B>UNITED
STATES <BR>SECURITIES AND EXCHANGE COMMISSION</B> </FONT> <B><BR>
</B><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Washington, D.C. 20549</B> </FONT> </TD>
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<P align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=3> AMENDMENT No. 1 </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>SCHEDULE TO </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>TENDER OFFER STATEMENT
UNDER SECTION 14(d)(1) OR 13(e)(1) OF <BR>
THE SECURITIES
EXCHANGE ACT OF 1934 </FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="5"><B>Check Point Software
Technologies Ltd.</B> </FONT> <BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Name of Subject Company (Issuer) and Name of Filing Person
(Offeror)) </FONT> </P>

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<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Options
to Purchase Ordinary Shares, Nominal Value NIS 0.01 Per Share </B><BR>
(Title&nbsp;of Class&nbsp;of
Securities) <BR>
<B>94-3229135</B><BR>
(CUSIP Number of Class&nbsp;of Securities) <BR>
(Underlying
Ordinary Shares)  </FONT></TD>
</TR>
</TABLE>


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<TD><HR SIZE="1" NOSHADE WIDTH="15%" ALIGN="CENTER"> </TD>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>John Slavitt, Esq. <BR>
General Counsel <BR>
Check Point Software
Technologies, Inc. <BR>
800 Bridge Parkway <BR>
Redwood City,
California 94065 <BR>
Tel: (650) 628-2110 </B><BR>
(Name, address, and telephone numbers of person authorized to receive notices and communications
on behalf of filing persons) </FONT> </P>

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<TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Copies
to: </B><BR>
Jeffrey D. Saper, Esq. <BR>
Allison B. Spinner, Esq. <BR>
Wilson Sonsini Goodrich &amp; Rosati<BR>
Professional Corporation <BR>
650 Page Mill Road <BR>
Palo Alto, CA 94304-1050  <BR>
Tel: (650) 493-9300 </FONT> </TD>
</TR>
</TABLE>



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<TR VALIGN=TOP>
<TD><HR SIZE="1" NOSHADE WIDTH="15%" ALIGN="CENTER"> </TD>
</TR>
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<BR>






<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" ALIGN="Center" BORDER="1">
<TR VALIGN=Bottom>
     <TD ALIGN="Center" COLSPAN="2"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>CALCULATION OF FILING FEE</B> </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Transaction Valuation*</FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amount of Filing Fee**</FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH="50%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$19,297,110</FONT></TD>
     <TD WIDTH="50%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$2,064.79</FONT></TD></TR>
</TABLE>
<BR>



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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Estimated
solely for the purposes of calculating the Amount of Filing Fee. The calculation of the
Transaction Valuation assumes that all options to purchase the Issuer&#146;s ordinary
shares that are eligible for exchange will be exchanged for restricted stock units and
cancelled pursuant to this offer. These options have an aggregate value of $19,297,110 as
of September 12, 2006, calculated based on a modified Black-Scholes option pricing model. The filing fee was  previously  paid with the Schedule TO filing made with the Securities and Exchange
Commission on September 18, 2006. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>**  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Amount of Filing Fee calculated in accordance with Rule 0-11(b) of the Securities
Exchange Act of 1934, as amended, equals $107.00 for each $1,000,000 of the value of the
transaction.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="3" face="Wingdings">o
</font>  </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check
the box if any part of the fee is offset as provided by                Rule&nbsp;0-11(a)(2)
and identify the filing with which the offsetting fee was                previously paid.
Identify the previous filing by registration statement number,                or the Form
or Schedule&nbsp;and the date of its filing. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Amount Previously Paid:
<U>Not Applicable</U>. </FONT> </P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Form or Registration No.:
<U>Not Applicable</U>. </FONT> </P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Filing Party: <U>Not
Applicable</U>. </FONT> </P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date Filed: <U>Not
Applicable</U>. </FONT> </P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="3" face="Wingdings">o
</font>  </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check
the box if the filing relates solely to preliminary communications made
               before the commencement of a tender offer. </FONT></TD>
</TR>
</TABLE>
<BR>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check the appropriate boxes below to
designate any transactions to which the statement relates: </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="3" face="Wingdings">o
</font> </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>third-party
tender offer subject to Rule&nbsp;14d-1. </FONT></TD>
</TR>
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<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="3" face="Wingdings">x</font>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>issuer
tender offer subject to Rule&nbsp;13e-4. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="3" face="Wingdings">o
</font> </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>going-private
transaction subject to Rule&nbsp;13e-3. </FONT></TD>
</TR>
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<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="3" face="Wingdings">o
</font> </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>amendment
to Schedule&nbsp;13D under Rule&nbsp;13d-2. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check the following box if the filing
fee is a final amendment reporting the results of the tender offer: <FONT size="3" face="Wingdings">o
</font></FONT></P>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> AMENDMENT NO. 1 TO
SCHEDULE TO </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This
Amendment No. 1 to the Tender Offer Statement on Schedule&nbsp;TO relates to an offer (the
&#147;Offer&#148;) by Check Point Software Technologies Ltd., a company organized under
the laws of Israel (&#147;Check Point&#148; or the &#147;Company&#148;), to exchange
certain outstanding options for restricted stock units as set forth under the Offer to
Exchange Certain Outstanding Options for Restricted Stock Units dated September 18, 2006. </FONT></P>

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<TD WIDTH=12%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B> Item 12. </B> </FONT> </TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B> Exhibits. </B> </FONT> </TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Exhibit (a)(1)(B) in Item 12 of
the Schedule TO is replaced and superseded by the following exhibit: </FONT></P>


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<TD WIDTH="12%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U> Exhibit Number </U> </FONT> </TD>
<TD WIDTH="88%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U> Description </U> </FONT> </TD>
</TR>
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<BR>




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<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (a)(1)(B)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Letter
to all eligible employees from Eyal Desheh, dated September 18, 2006 </FONT></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>






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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURE</FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
due inquiry and to the best of my knowledge and belief, I certify that the information set
forth in this statement is true, complete and correct.</FONT></P>



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<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CHECK POINT SOFTWARE TECHNOLOGIES LTD.<BR><BR>
<BR>/s/ Eyal Desheh<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Eyal Desheh<BR>Executive  Vice  President  and Chief  Financial Officer</FONT></TD>
</TR>
</TABLE>
<BR>




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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date: September 18,
2006</FONT></P>

<p align=center>
<font size=2></font></p>
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<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2> INDEX TO EXHIBITS </FONT></H1>


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<TD WIDTH="12%" ALIGN="CENTER"> <FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U> Exhibit Number </U> </FONT> </TD>
<TD WIDTH="88%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U> Description </U> </FONT> </TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (a)(1)(A)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Offer
to Exchange Certain Outstanding Options for Restricted Stock Units, dated
                            September 18, 2006* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)(1)(B)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Letter
to all eligible employees from Eyal Desheh, dated September 18, 2006 </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (a)(1)(C)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Election
form* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (a)(1)(D)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Withdrawal
form* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (a)(1)(E)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Form
of addendum* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (a)(1)(F)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Form
of acknowledgment of receipt of documents relating to the offer* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (a)(1)(G)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Form
of reminder e-mails* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (a)(1)(H)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Form
of  restricted  stock unit  agreement  with notice of grant under the 2005 United  States
                            Equity Incentive Plan* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (a)(1)(I)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Form
of  restricted  stock unit  agreement  with notice of grant under the 2005 Israel  Equity
                            Incentive Plan* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (a)(1)(J)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Form
of restricted  stock unit agreement with notice of grant under the 2005 RoW Master Equity
                            Incentive Plan* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Not
applicable </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)(1)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2005
United States Equity Incentive Plan  (incorporated by reference to Exhibit 4.8 from Check
                            Point's Annual Report on Form 20-F for the year ended
December 31, 2005)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)(2)</FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2005
 Israel  Equity  Incentive  Plan  (incorporated  by  reference  to Exhibit 4.7 from Check
                            Point's Annual Report on Form 20-F for the year ended
December 31, 2005)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2> (d)(3)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> 2005
RoW Master Equity Incentive Plan (a sub-plan of the 2005 Israel Equity Incentive Plan)* </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(g)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Not
applicable </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH="9%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(h)  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Not
applicable </FONT></TD>
</TR>
</TABLE>
<BR>








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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> * </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Previously filed as an exhibit to the Schedule TO filed with the Securities and
Exchange Commission on September 18, 2006. </FONT></TD>
</TR>
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<FILENAME>exhibit_a1-b.htm
<DESCRIPTION>EXHIBIT (A)(1)(B)
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     <!-- Control Number: 62918                                                            -->
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     <!-- Firm Name:      Zadok-Keinan Ltd                                                 -->
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<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U><B>Exhibit (a)(1)(B)</B></U> </FONT> </P>

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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>FROM:</B> </FONT> </TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Eyal
Desheh  </FONT></TD>
</TR>
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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>SUBJECT:</B> </FONT> </TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check
Point Software  Technologies  Ltd. Offer to Exchange Certain  Outstanding  Options
                  for Restricted Stock Units </FONT></TD>
</TR>
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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>DATE:</B> </FONT> </TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>September
18, 2006 </FONT></TD>
</TR>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Today,
we are happy to announce that we are offering you the opportunity to participate in an
Employee Stock Option/Restricted Stock Unit Exchange Program. Equity awards are a valuable
motivation and retention tool and, as such, help to align employee and shareholder
interests. Many of the currently outstanding stock options held by our employees and the
employees of our subsidiaries have limited value and the per share exercise prices
of the stock options are greater than the current market price of our ordinary shares. As
a result, the Board of Directors has approved a Stock Option/Restricted Stock Unit
Exchange Program, which will allow you to exchange certain stock options for restricted
stock units. Restricted stock units are a type of award that is essentially a promise by
us to issue ordinary shares to you in the future, as described below, and is structured to
help insure that employees receive appropriate incentive to continue to grow our business
and meet our objectives. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
know that the materials included with this letter describing the Employee Stock
Option/Restricted Stock Unit Exchange Program may seem voluminous, but it is very
important that you read and try to understand and act on all of these materials. The
various summaries in this letter and in the Offer to Exchange Certain Outstanding Options
for Restricted Stock Units (the &#147;Offer to Exchange&#148;) are a good way to get
started. In addition, below is a summary of some aspects of the Employee Stock
Option/Restricted Stock Unit Exchange Program that should help familiarize you with the
principal terms. We believe this program is potentially very important to you and urge you
to take the time to study the materials, ask questions about anything you do not
understand and make an informed decision about whether or not to participate. If you do
nothing, you will be making a decision not to participate and you will retain your current
options under their current terms and conditions. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regards, <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eyal
Desheh, Executive Vice President and CFO </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Here are the highlights of the
tender offer: </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> <FONT size="2" face="Wingdings 2"> &#151;</font>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> A
restricted stock unit is an equity grant valued in terms of our ordinary shares, but
ordinary shares are not issued at the time of the grant. Instead, after you satisfy any
vesting requirements, such as continued service to Check Point, we will distribute the
number of shares equal to the number of vested restricted stock units. You will
receive the shares with no cash payment made by you. </FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> <FONT size="2" face="Wingdings 2"> &#151;</font>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> You
may only exchange outstanding options that were granted on or after January 1, 2004 based
on the attached information. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="2" face="Wingdings 2"> &#151;</font>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
number of restricted stock units you will receive will be equal to the Option Value (as
defined in the Offer to Exchange) of each exchanged option as determined by the Company
on September 12, 2006 divided by $19.20, which was the fair market value of an ordinary
share on September 12, 2006. </FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> <FONT size="2" face="Wingdings 2"> &#151;</font> </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> We
will provide you with an Addendum listing the number of outstanding shares subject to
your eligible option grants, the Option Value of such eligible option grants and the
number of restricted stock units you will receive for each eligible option grant you
exchange. </FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> <FONT size="2" face="Wingdings 2"> &#151;</font>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> You
may only exchange a full grant, partial grants will not be accepted. </FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> <FONT size="2" face="Wingdings 2"> &#151;</font>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> For example, if you exchange 500 options with an Option Value of $2,000, on the
restricted stock unit grant date you will receive 105 restricted stock units. This
is equal to the $2,000 value divided by $19.20 (which is equal to the fair market
value of an ordinary share of our stock as of September 12, 2006) and rounded up to the
nearest whole restricted stock unit. </FONT></TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> <FONT size="2" face="Wingdings 2"> &#151;</font>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> The restricted stock units will vest according to the following schedule, subject
to your continued service on each relevant vesting date: </FONT></TD>
</TR>
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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Wingdings 2" SIZE="1">&#154;</FONT>  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>20%
of the  restricted  stock units will vest one (1) year from the  restricted  stock unit
grant                   date; </FONT></TD>
</TR>
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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Wingdings 2" SIZE="1">&#154;</FONT>  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>20%
of the restricted  stock units will vest two (2) years from the restricted  stock unit
grant                   date; </FONT></TD>
</TR>
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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Wingdings 2" SIZE="1">&#154;</FONT>  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>30%
of the  restricted  stock  units  will vest three (3) years  from the  restricted  stock
unit                   grant date; and </FONT></TD>
</TR>
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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Wingdings 2" SIZE="1">&#154;</FONT>  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>30%
of the restricted stock units will vest four (4) years from the restricted stock unit
grant date.  </FONT></TD>
</TR>
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<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We
expect the restricted stock unit grant date will be on October 23, 2006. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Stock Option/Restricted Stock Unit Exchange Program is being made under the terms and
subject to the conditions of the Offer to Exchange and the related election form and
withdrawal form, which are available in our SEC (Securities and Exchange
Commission) filing which can be accessed on the SEC&#146;s web site at
http://www.sec.gov. You should carefully read all of these documents before you decide
whether to participate in the offer. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have attempted to anticipate many of the questions you may have regarding the terms of the
Employee Stock Option/Restricted Stock Unit Exchange Program and have included some
frequently asked questions in the Offer to Exchange. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Participation
is completely voluntary. Participating in the offer involves risks that are discussed in
the Offer to Exchange. We recommend that you speak with your personal financial, legal
and/or tax advisors to weigh the benefits and risks involved in participating in the
Employee Stock Option/Restricted Stock Unit Exchange Program. If you choose not to
participate, you will retain your current options under their current terms and
conditions. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If
you choose to participate in the offer, you must deliver the completed election form by
facsimile, e-mail or by hand delivery before 2:00&nbsp;p.m., Pacific Time, on
October 23, 2006 to: </FONT></P>

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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Geula
Gomen  <BR>
Check Point Software Technologies Ltd. <BR>
3A  Jabotinsky St., Diamond Tower <BR>
Ramat Gan 52520 Israel <BR>
Fax: +972-3-7534950 <BR>
E-mail: tender@checkpoint.com </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If
Geula Gomen has not received your properly completed and signed election form before the
offer expires, you will have rejected this offer and you will keep your current options.
These forms are included in the offer documents and are also available on our intranet
site at http://iii.checkpoint.com/tender. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please
carefully read all of the offer documents. This letter is an introduction to the offer,
but does not detail all the terms and conditions that apply. Please direct any questions
you may have to John Slavitt, General Counsel, at: </FONT></P>

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<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check
Point Software Technologies, Inc. <BR>
800 Bridge Parkway <BR>
Redwood City, California 94065 <BR>
(650) 628-2110 </FONT></TD>
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