<SEC-DOCUMENT>0001178913-11-001979.txt : 20110919
<SEC-HEADER>0001178913-11-001979.hdr.sgml : 20110919
<ACCEPTANCE-DATETIME>20110713140224
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001178913-11-001979
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20110713

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHECK POINT SOFTWARE TECHNOLOGIES LTD
		CENTRAL INDEX KEY:			0001015922
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				943229135
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		5 HA' SOLELIM STREET
		CITY:			TEL AVIV, ISRAEL
		STATE:			L3
		ZIP:			67897
		BUSINESS PHONE:		650-628-2000

	MAIL ADDRESS:	
		STREET 1:		800 BRIDGE PARKWAY
		CITY:			REDWOOD CITY
		STATE:			CA
		ZIP:			94065
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">July 12, 2011</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities and Exchange Commission</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Division of Corporation Finance</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Attention: Stephen&#160;G. Krikorian</font></div>

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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Re:</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form 20-F for the Fiscal Year Ended December&#160;31, 2010</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Filed April&#160;1, 2010</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">File No. 000-28584</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ladies and Gentlemen:</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check Point Software Technologies Ltd. (the &#8220;Company&#8221; or &#8220;we&#8221;) respectfully submits this correspondence to the staff (the &#8220;Staff&#8221;) of the Securities and Exchange Commission (the &#8220;Commission&#8221;) in response to the Commission&#8217;s letter dated June 30, 2011 (the &#8220;Comment Letter&#8221;).</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">To facilitate your review of the Company&#8217;s response to the comments by the Staff as set forth in the Comment Letter, we have reproduced below the Staff&#8217;s comments followed by our responses.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Form 20-F for Fiscal Year Ended December 31, 2010</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Item 5.&#160;&#160;Operating and Financial Review and Prospectus</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Liquidity and Capital Resources, page 46</font></font></div>

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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">1.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We note that a substantial amount of your earnings of foreign subsidiaries are indefinitely reinvested outside of Israel.&#160;&#160;Tell us how you considered disclosing the amount of cash and cash equivalents that are currently held outside of Israel and the impact of repatriating the undistributed earnings of foreign subsidiaries.&#160;&#160;In this regard, we note that this disclosure would illustrate that some cash is not presently available to fund domestic operations and obligations without paying taxes upon their repatriation.&#160;&#160;We refer you to Item 5.B.1 of Form 20-F and Section IV of SEC Release 33-8350.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Response:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company notes the Staff&#8217;s comment, and would like to clarify that substantially all of its earnings are generated in Israel.&#160;&#160;A significant amount of our cash, cash equivalents and marketable securities are held by the parent company in Israel.&#160;&#160;At the end of 2002, we established a wholly owned subsidiary in Singapore that serves holds a significant portion of our remaining investments and manages those financial assets as well.<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>However, there are no restrictions on the repatriation of such funds to Israel.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In any event, the Company generates sufficient cash from its Israeli operations to fund its operating and capital requirements and, therefore, does not need to repatriate any of the earnings of its foreign subsidiaries.</font></div>

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<td valign="middle" width="7%" style="BORDER-TOP: gray 2px solid; TEXT-ALIGN: left"><font color="dimgray" style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font color="dimgray" style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">software<font style="FONT-WEIGHT: bold">blades</font><font color="dimgray" style="FONT-SIZE: 6pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">TM</font></font></font></font></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">&#169;</font>2011 Check Point Software Technologies Ltd. All rights reserved.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Item 10.&#160;&#160;Additional Information</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Material Contracts, page 70</font></font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We note your disclosure that your two largest distributors accounted for approximately 18% and 17% of your sales in both 2010 and 2009.&#160;&#160;Please tell us what consideration you have given to identifying these distributors and providing a summary of your material contracts with each of these distributors.&#160;&#160;See Item 10.C of Form 20-F.&#160;&#160;Further, tell us what consideration you have given to filing these agreements as exhibits to the Form 20-F.&#160;&#160;It appears that these distributors generate a large amount of revenue for the company and that you may be substantially dependent upon any agreements with these distributors.&#160;&#160;See Instruction 4(b)(ii) to the Exhibits of Form 20-F.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Response:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We note the Staff&#8217;s comment, and, for the reasons described below, we have determined that our contracts with distributors do not constitute material contracts required to be described in accordance with Item 10.C of Form 20-F or filed as exhibits to Form 20-F in accordance with 4(b)(ii) to the Exhibits of Form 20-F.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In reaching these conclusions, we have determined that our contracts with our distributors are of the sort that ordinarily accompanies the kind of business conducted by the Company and are made in the ordinary course of our business.&#160;&#160;A substantial portion of our sales are transacted indirectly through distributors and resellers rather than directly to end users.&#160;&#160;This practice is consistent with the type of business that we conduct.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have also determined that our business is not &#8220;substantially dependent&#8221; on any individual contract with a distributor.&#160;&#160;Although our two largest distributors accounted for approximately 18% and 17% of our sales in 2010 and 2009, we are not substantially dependent upon our agreements with these distributors.&#160;&#160;These agreements are short-term and non-exclusive and do not provide for minimum purchase commitments by either distributor.&#160;&#160;Further, we are confident that, even if our relationship with these two distributors were terminated, we would be able to effectively sell our products through other distributors and that resellers who currently purchase our products from these two distributors would then purchase from other distributors or directly from us.</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">You state that you purchase several key components and finished products from sole or limited sources and that you are increasingly dependent on contract manufacturers for your hardware products.&#160;&#160;To the extent you are materially dependent on limited and single source suppliers or contract manufacturers; please tell us what consideration you gave to disclosing the terms of any material contracts and filing such agreements as exhibits to the annual report.&#160;&#160;See Instruction 4(b)(ii) to the Exhibits of Form 20-F.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Response:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We note the Staff&#8217;s comment, and, for the reasons described below, we have determined that our contracts with our suppliers do not constitute material contracts required to be described in accordance with Item 10.C of Form 20-F or filed as exhibits to Form 20-F in accordance with 4(b)(ii) to the Exhibits of Form 20-F.</font></div>

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<td valign="middle" width="7%" style="BORDER-TOP: gray 2px solid; TEXT-ALIGN: left"><font color="dimgray" style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font color="dimgray" style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">software<font style="FONT-WEIGHT: bold">blades</font><font color="dimgray" style="FONT-SIZE: 6pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">TM</font></font></font></font></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">&#169;</font>2011 Check Point Software Technologies Ltd. All rights reserved.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In reaching these conclusions, we have determined that our contracts with our suppliers are of the sort that ordinarily accompanies the kind of business conducted by the Company and are made in the ordinary course of our business.&#160;&#160;We routinely enter into agreements with single-source and limited-source suppliers to procure certain components, subassemblies and modules necessary for the manufacture or integration of our hardware products.&#160;&#160;Our single-source and limited-source supplier contracts are of a nature that ordinarily accompanies the type of business we conduct.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We have also determined that our business is not &#8220;substantially dependent&#8221; on any individual contract with a supplier, including our sole source suppliers.&#160;&#160;For each of the components or products that we purchase from limited or sole source suppliers, we have the ability to obtain similar components or products from alternative supply sources, and therefore we are not &#8220;substantially dependent&#8221; upon any individual supplier or on any specific supplier contract.&#160;&#160;For example, if any one of these suppliers was unable to meet our requirements for components or products in a timely fashion, in most cases we would be able to procure similar components or products from different suppliers to meet our requirements.&#160;&#160;In other cases, we may be able to procure the components from a distributor rather than directly from the supplier.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We carefully monitor our limited and sole source suppliers to minimize the risk of a disruption in supply and to ensure that our components or products could be procured from multiple sources if necessary.&#160;&#160;As indicated in our risk factor discussion, the extended interruption in the supply of any of these component parts has the potential to result in temporary supply shortages that could have a material adverse impact on our business.&#160;&#160;&#160;&#160;Further, because of our monitoring of our suppliers and our inventory management, we do not expect that any temporary supply shortages would have a long-term effect on our business or financial condition.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Item 18.&#160;&#160;Financial Statements</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting, page F-4</font></font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We note that the report does not contain the Registered Public Accounting Firm&#8217;s opinion as to whether the registrant maintained, in all material respects, effective internal control over financial reporting in accordance with Rule 2-02(f)(2) of Regulation S-X.&#160;&#160;Please amend your Form 20-F accordingly.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company notes the Staff&#8217;s comment and acknowledges that the opinion paragraph of the report of its Registered Public Accounting Firm on its internal controls over financial reporting was inadvertently omitted from the filing.&#160;&#160;The Company will amend its Form 20-F to include the corrected opinion, which will include the following sentence:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">&#169;</font>2011 Check Point Software Technologies Ltd. All rights reserved.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Note 10: - Commitments and Contingent Liabilities</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">b. Litigation, page F-31</font></font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">We note your disclosure regarding the Israeli Tax Authority and the four patent related matters as well as the disclosures regarding your &#8220;various other lawsuits.&#8221;&#160;&#160;If there is a reasonable possibility that a loss exceeding amounts already recognized may have been incurred and the amount of that additional loss would be material you must either disclose the estimated additional loss, or state that such an estimate cannot be made.&#160;&#160;Please tell us whether you believe that it is reasonably possible that additional losses would be material and, if so, how your disclosures comply with paragraphs 3 through 5 of ASC 450-20-50 and SAB Topic 5Y.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Response:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company notes the Staff's comment and, we would like to clarify the following:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;With respect to our disclosure regarding the Israeli Tax Authorities we believe we have complied with the disclosure requirements of ASC 450, <font style="DISPLAY: inline; FONT-STYLE: italic">Contingencies</font>, which are as follows:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;50-3 Disclosure of the contingency shall be made if there is at least a reasonable possibility that a loss or an additional loss may have been incurred and either of the following conditions exists:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a. An accrual is not made for a loss contingency because any of the conditions in paragraph 450-20-25-2 are not met</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b. An exposure to loss exists in excess of the amount accrued pursuant to the provisions of paragraph 450-20-30-150-4.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The disclosure in the preceding paragraph shall include both of the following:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a. The nature of the contingency</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">b. An estimate of the possible loss or range of loss or a statement that such an estimate cannot be made.&#8221;</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company believes that its disclosure has appropriately included the nature of the contingency and the maximum amount of the exposure to loss that exists as required.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The company&#8217;s existing disclosure includes the following:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The ITA demanded the payment of additional taxes in the aggregate amount of NIS 1,412 million (this amount includes interest through the respective assessment dates). There can be no assurance that the court will accept the Company's positions on these matters or others and, in such an event, the Company may record additional tax expenses if these matters are settled for amounts in excess of its current provisions.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: times new roman">&#169;</font>2011 Check Point Software Technologies Ltd. All rights reserved.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;With respect to the four patent-related matters, the Company would like to clarify that it currently intends to vigorously defend these claims. However, while as with most litigation, the outcome is difficult to determine, the ultimate resolution is not expected to be material to its business, results of operations and financial condition. To avoid potential confusion, the Company will revise its disclosure in future filings in &#8220;Item 3. Legal Proceedings&#8221; and in the notes to its consolidated financial statements to clarify this matter. The Company&#8217;s anticipated disclosure is as follows: "The Company currently intends to vigorously defend these claims.&#160;&#160;However, while as with most litigation, the outcome is difficult to determine, the ultimate resolution is not expected to be material to its business, results of operations and financial condition."</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;With respect to our &#8220;various other lawsuits&#8221; we concluded that a loss beyond the amounts accrued by the Company is neither probable nor reasonably possible. To avoid potential confusion, the Company will revise its disclosure in future filings in &#8220;Item 3. Legal Proceedings&#8221; and in the notes to its consolidated financial statements to indicate the Company&#8217;s conclusion that a loss with respect to such claims in excess is neither probable nor reasonably possible. The Company&#8217;s anticipated disclosure is as follows: &#8220;The Company will continue to vigorously assert and protect their interests in these lawsuits. The Company believes that a loss in excess of its accrued liability with respect to these claims is neither probable nor reasonably possible.&#8221;</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Acknowledgment</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In connection with the foregoing responses to the Staff&#8217;s Comment Letter, the Company acknowledges that:</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the Company&#8217;s Annual Report on Form 20-F for the fiscal year ended December 31, 2010.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Company may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.</font></div>
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</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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