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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001119774-03-000020.txt : 20031105
<SEC-HEADER>0001119774-03-000020.hdr.sgml : 20031105
<ACCEPTANCE-DATETIME>20031105065508
ACCESSION NUMBER:		0001119774-03-000020
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20031029
FILED AS OF DATE:		20031105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMPUGEN LTD
		CENTRAL INDEX KEY:			0001119774
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30902
		FILM NUMBER:		03977838

	BUSINESS ADDRESS:	
		STREET 1:		72 PINCHAS ROSEN ST
		STREET 2:		TEL AVIV
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			69512
		BUSINESS PHONE:		011-972-3-765-8585
</SEC-HEADER>
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<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
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	font-family:"Times New Roman""><b>FORM 6-K</b></p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
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	font-family:"Times New Roman""><b>SECURITIES AND
EXCHANGE COMMISSION</b></p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
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	font-family:"Times New Roman""><b style='font-size:11.0pt'>&nbsp;</b></p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
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	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>Washington</b><b style='font-size:11.0pt'>,
 </b><b style='font-size:11.0pt'>D.C.</b><b style='font-size:11.0pt'> </b><b style='font-size:11.0pt'>20549</b></p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>&nbsp;</b></p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>Report of Foreign Issuer</b></p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
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	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>&nbsp;</b></p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">Pursuant to rule 13a-16 or 15d-16 of the Securities
Exchange Act of 1934 for the month of October 2003</p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><u style='font-size:11.0pt'>Compugen Ltd.</u></p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">(Translation of registrant's name in English)</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><u style='font-size:11.0pt'>72 Pinchas Rosen Street, </u><u style='font-size:11.0pt'>Tel-Aviv</u><u style='font-size:11.0pt'>
 </u><u style='font-size:11.0pt'>69512</u><u style='font-size:11.0pt'>, </u><u style='font-size:11.0pt'>Israel</u></p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">(Address of principal executive offices)</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">Indicate by check mark whether the registrant files or
will file annual </p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">reports under cover Form 20-F or Form 40-F.</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">Form 20-F&nbsp;&nbsp;<u> X&nbsp;&nbsp;</u>                               Form
40-F&nbsp;___</p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">On
October 29, 2003 Compugen Ltd. (the &quot;Registrant&quot;) issued a Press
Release, filed as Exhibit 1 to this Report on Form 6-K, which is hereby
incorporated by reference herein.</p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>&nbsp;<!-- Created Using Viltech Software --></u></b></p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>SIGNATURES</u></b></p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:28.35pt;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>&nbsp;</b></p>

<p class=MsoBlockText Style="margin-top:0in;

	margin-bottom:0in;
	margin-left:.5in;
	margin-bottom:.0001pt;
	text-indent:30.95pt;
	line-height:16.0pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.</p>

<p class=MsoNormal style='margin-top:0in;margin-right:28.35pt;margin-bottom:
0in;margin-left:28.35pt;margin-bottom:.0001pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<p class=MsoNormal align=center style='margin-top:0in;margin-right:28.35pt;
margin-bottom:0in;margin-left:4.0in;margin-bottom:.0001pt;text-align:center' Style="margin:0in;
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	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">                                                                       </p>

<p class=MsoNormal style='margin-right:28.35pt;text-indent:225.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">Compugen Ltd.</p>

<p class=MsoNormal style='margin-right:28.35pt;text-indent:225.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">(Registrant)</p>

<p class=MsoNormal style='margin-right:28.35pt;text-indent:225.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">By:       <u>/s/ Mor Amitai</u></p>

<p class=MsoNormal style='margin-right:28.35pt;text-indent:225.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">Name:                     Mor Amitai</p>

<p class=MsoNormal style='margin-right:28.35pt;text-indent:225.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">Title:   President and CEO</p>

<p class=MsoNormal style='text-indent:225.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">Date: November
4, 2003</p>

<p class=MsoNormal style='margin-left:3.5in' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:11.0pt">&nbsp;</p>

<B><P align=center>____(1)____</B>&nbsp;</P><br clear=all
style='page-break-before:always'>


<p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Exhibit 1</b></p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt"><img width=257 height=136
src="image001.jpg"></p>

<h3 Style="margin:0in;
	margin-bottom:.0001pt;
	text-align:center;
	page-break-after:avoid;
	font-size:16.0pt;
	font-family:"Times New Roman";
	font-weight:bold" >&nbsp;</h3>

<h3 Style="margin:0in;
	margin-bottom:.0001pt;
	text-align:center;
	page-break-after:avoid;
	font-size:16.0pt;
	font-family:"Times New Roman";
	font-weight:bold"  align=left style='text-align:left'>Compugen Reports Third Quarter 2003
Financial Results</h3>

<p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:14.0pt'>&nbsp;</b></p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:14.0pt'>Novel splice variants of four genes selected as
initial therapeutic protein development candidates</b></p>

<p class=MsoNormal style='margin-top:6.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">&nbsp;</p>

<p style='margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'><b>TEL </b><b>AVIV</b><b>, </b><b>ISRAEL</b><b>, </b><b>October 29, 2003</b> - Compugen Ltd. (NASDAQ: CGEN) today reported financial results
for the third quarter ended September 30, 2003. </p>

<p style='margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'>&quot;This has been a very exciting time for Compugen
with respect to our in-house therapeutic discovery activities. We have
completed an evaluation and prioritization of a large number of putative
therapeutic proteins that have been discovered to date through our unique
merging of advanced computational technologies and molecular biology, and have
selected novel splice variants of four genes as our initial in-house
development candidates. To support these efforts, we have shifted certain
internal resources and have recruited additional scientists with relevant drug
R&amp;D expertise," said Mor Amitai, Ph.D., President and Chief Executive
Office of Compugen Ltd. </p>

<p class=MsoNormal style='margin-top:6.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">"Also during the quarter we
enhanced our unique discovery efforts through the acquisition of a substantial
amount of proprietary sequence data. We are confident that this newly acquired
data will both result in many additional discoveries of scientific and
commercial value, and also accelerate the continuing development of our
predictive capabilities for drug and diagnostic discovery," Dr. Amitai added.</p>

<p class=MsoNormal style='margin-top:6.0pt;text-autospace:none' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">Revenues for
the three months ended September 30, 2003 were $2.0 million (including $728,000
from research and development grants), compared to $2.8 million (including
$459,000 from research and development grants) for the third quarter of 2002.
The net loss for the quarter was $3.2 million (including a non-cash charge of
$612,000 for amortization of deferred compensation), or $0.12 per share,
compared with a net loss of $3.0 million (including $195,000 of deferred
compensation), or $0.11 per share, for the corresponding quarter of 2002.</p>

<p style='margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'>Revenues for the first nine months ended September 30,
2003 were $7.5 million (including $1.6 million from research and development grants),
compared to $8.4 million for the same period in 2002 (including $1.4 million
from research and development grants). Net loss for the first nine months of
2003 was $7.9 million (including a non-cash charge of $800,000 for amortization
of deferred compensation), or $0.30 per share, compared with a net loss of $9.0
million (including $678,000 of deferred compensation), or $0.34 per share, for
the same period in 2002. </p>

<p class=MsoNormal style='margin-top:6.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">A<!-- Created Using Viltech Software -->s of September 30, 2003, Compugen had $64.8
million in cash, cash equivalents, and marketable securities (including $45.2
million in long-term marketable securities), approximately equal to the $64.7
million (including $18.9 million in long-term marketable securities) as of June 30, 2003. Included in cash and cash equivalents as of June 30, 2003 was $1.4 million resulting from the consolidation of Evogene Ltd.,
Compugen`s agricultural biotechnology subsidiary, which as of the most recent
quarter is accounted for on an equity basis.<!-- Created Using Viltech Software --></p>

<p class=MsoNormal style='margin-top:6.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">During the third quarter of 2003,
Compugen announced that it had transferred its Bioccelerator product line to
Biocceleration Ltd. as part of its continuing efforts to focus on its mission
of increasing the probability of success of drug and diagnostic discovery and
developing selected potential therapeutic proteins discovered by the Company
through these efforts. These activities include collaborations with leading
pharmaceutical, diagnostic and biotechnology companies based on Compugen`s
discovery platforms and services, and its intellectual property. </p>

<p style='margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'>"Consistent with our continuing focusing efforts, we are
now considering the divestiture of certain other tools and products that
Compugen developed in the past and currently markets," said Nurit Benjamini,
Chief Financial Officer of Compugen Ltd. "If we were to conclude any such
transactions, we expect that as a consequence, our reported revenues could be
reduced. However, we would not anticipate any material impact on Compugen`s
cash flow or reported earnings. With respect to our outlook for year-end 2003, Compugen is increasing its previously stated expectation of
$52 million of <!-- Created Using Viltech Software -->cash and cash related accounts by
approximately $6-7 million," Ms. Benjamini added.<!-- Created Using Viltech Software --></p>

<p style='margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'><b>&nbsp;</b></p>

<p style='margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'><b>Conference Call and Web Cast Information </b></p>

<p style='margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'>Compugen will hold a conference call to discuss its
third quarter results on October 29, 2003 at 10:00 am EST. To access the
conference call from the US, please dial either 1-866-527-8676 or
1-866-860-9642, and from international locations +972-3-918-0610. A replay of
the conference call will also be available approximately two hours after the
completion of the live conference call. To access the replay, please dial
+972-3-925-5901. The replay will be available until 12:00 noon EST on October 31, 2003.</p>

<p style='margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'>The call will also be available via live Web cast
through Compugen`s Website, located at www.cgen.com. </p>

<p style='margin-top:6.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'>&nbsp;</p>

<h2 Style="margin:0in;
	margin-bottom:.0001pt;
	text-align:center;
	page-break-after:avoid;
	font-size:12.0pt;
	font-family:"Times New Roman";
	font-weight:bold"  align=left style='margin-top:6.0pt;text-align:left'>About Compugen </h2>

<p class=MsoBodyText2 style='margin-top:6.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">Compugen (NASDAQ: CGEN), a drug
and diagnostic discovery company, is a leader in incorporating ideas and
methods from mathematics, computer science and physics into the disciplines of
biology, organic chemistry and medicine with the objective of significantly
increasing the probability of success of drug and diagnostic development. This
unique capability is a proven basis for both in-house discovery of potential
therapeutic and diagnostic products, and the development of high value
platforms and services. Compugen has established collaborations with leading
biotechnology, diagnostic and pharmaceutical companies such as Abbott
Laboratories, Diagnostic Products Corporation, Gene Logic, Novartis, Pfizer and
Sigma-Genosys. For additional information, please visit Compugen's Website at
www.cgen.com.</p>

<p class=MsoNormal style='margin-top:6.0pt' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><i style='font-size:8.0pt'>This
press release contains &quot;forward-looking statements&quot; within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements include words like &quot;may,&quot; &quot;expects,&quot;
&quot;believes,&quot; and &quot;intends,&quot; and describe opinions about
future events. These forward-looking statements involve known and unknown risks
and uncertainties that may cause the actual results, performance or
achievements of Compugen to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Some of these risks are: changes in relationships with
collaborators; the impact of competitive products and technological changes;
risks relating to the development of new products; the ability to implement
technological improvements; the ability of Compugen to obtain and retain
customers. These and other factors are identified and more fully explained
under the heading &quot;Risk Factors&quot; in Compugen's annual reports filed
with the Securities and Exchange Commission. </i></p>

<p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">                         </p>

<h5 Style="
	margin-left:0in;
	font-size:10.0pt;
	font-family:"Times New Roman";
	font-weight:bold"  align=center style='margin:0in;margin-bottom:.0001pt;text-align:center;font-size:12.0pt;font-weight:normal'>(Tables to follow)</h5>

<p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><i>Company contact:                                                                                                           <!-- Created Using Viltech Software --></i></b></p>

<p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">Nurit Benjamini<!-- Created Using Viltech Software --></p>

<p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">Chief Financial Officer<!-- Created Using Viltech Software --></p>

<p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">Compugen Ltd.<!-- Created Using Viltech Software --></p>

<p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">Email: nurit@cgen.com <!-- Created Using Viltech Software --></p>

<p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">Tel: +972-3-7658-525<!-- Created Using Viltech Software --></p>

<b style='font-size:12.0pt;font-family:"Times New Roman"'><B><P align=center>____(2)____</B>&nbsp;</P><br clear=all
style='page-break-before:always'>
</b>

<p class=MsoBodyText2 style='margin-left:.75in' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b>&nbsp;</b></p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>COMPUGEN LTD. <br>
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS <br>
</b>(U.S. dollars in thousands, except
for share and per-share amounts)</p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">&nbsp;</p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=575
 style='width:431.45pt;margin-left:5.4pt;border-collapse:collapse;border-collapse:
 collapse !msorm' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>&nbsp;</b></p>
  </td>
  <td width=174 colspan=2 valign=top style='width:130.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>Three Months Ended<u>&nbsp;&nbsp; September 30,</u></b></p>
  </td>
  <td width=172 colspan=2 valign=top style='width:128.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>Nine Months Ended&nbsp;&nbsp;<u>&nbsp;&nbsp;September
  30,</u></b></p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>&nbsp;</b></p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>2003</u></b></p>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>Unaudited</u></b></p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>2002</u></b></p>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>Unaudited</u></b></p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>2003</u></b></p>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>Unaudited</u></b></p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>2002</u></b></p>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>Unaudited</u></b></p>
  </td>
 </tr>
 <tr style='height:18.45pt' style='height:18.45pt !msorm'>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:18.45pt'>
  <p><b style='font-size:10.0pt'>Revenues</b></p>
  </td>
  <td width=174 colspan=2 valign=top style='width:130.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:18.45pt'>
  <p align=center style='text-align:center;font-size:10.0pt'>&nbsp;</p>
  </td>
  <td width=172 colspan=2 valign=top style='width:128.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:18.45pt'>
  <p align=center style='text-align:center;font-size:10.0pt'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Products and services</p>
  </td>
  <td width=90 valign=bottom style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,224
  </p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>2,352</p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>5,900 </p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>7,040</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Research and development
  grants</p>
  </td>
  <td width=90 valign=bottom style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  728 </p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>459</p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>1,565 </p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>1,394</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Total revenues</b></p>
  </td>
  <td width=90 valign=bottom style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,952
  </b></p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>2,811</b></p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>7,465
  </b></p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>8,434</b></p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Cost and Expenses</b></p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Cost of products and
  services</p>
  </td>
  <td width=90 valign=bottom style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  381 </p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>832</p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>1,736</p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>2,167</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Research and development
  expenses</p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>3,141</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>3,472</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>9,659</p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>9,926</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Sales and marketing
  expenses</p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>699</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>1,264</p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>2,802 </p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>3,920</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">General and administrative
  expenses</p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>769</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>803</p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>2, 110
  </p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>2,695</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Amortization of deferred
  compensation</p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>612</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>195</p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>800 </p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>678</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Total operating expenses</p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>5,602</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>6,566</p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>17,107
  </p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>19,386</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">&nbsp;</p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>&nbsp;</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>&nbsp;</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>&nbsp;</p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Operating loss</b></p>
  </td>
  <td width=90 valign=bottom style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;
  (3,650) </b></p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>(3,755)</b></p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>(9,642)</b></p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>(10,952)</b></p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Financing and other income,
  net</p>
  </td>
  <td width=90 valign=bottom style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  456 </p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>738</p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>1,744 </p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>1,913</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Minority interest</p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>__</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>__</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>__</p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>51</p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Net loss </b></p>
  </td>
  <td width=90 valign=bottom style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;
  (3,194) </b></p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>(3,017)</b></p>
  </td>
  <td width=84 valign=bottom style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>(7,898)
  </b></p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right'><b style='font-size:10.0pt'>(8,988)</b></p>
  </td>
 </tr>
 <tr>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Basic and diluted net loss
  per ordinary share</p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>(0.12)</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>(0.11)</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>(0.30)</p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=right style='text-align:right;font-size:10.0pt'>(0.34)</p>
  </td>
 </tr>
 <tr style='height:19.35pt' style='height:19.35pt !msorm'>
  <td width=230 valign=top style='width:172.35pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:19.35pt'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Weighted average number of
  ordinary shares outstanding</p>
  </td>
  <td width=90 valign=top style='width:67.25pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:19.35pt'>
  <p align=right style='text-align:right;font-size:10.0pt'>26,472,899</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:19.35pt'>
  <p align=right style='text-align:right;font-size:10.0pt'>26,121,209</p>
  </td>
  <td width=84 valign=top style='width:63.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:19.35pt'>
  <p align=right style='text-align:right;font-size:10.0pt'>26,284,994</p>
  </td>
  <td width=88 valign=top style='width:65.85pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:19.35pt'>
  <p align=right style='text-align:right;font-size:10.0pt'>26,089,850</p>
  </td>
 </tr>
</table>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b>&nbsp;</b></p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b>&nbsp;</b></p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">&nbsp;</p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">&nbsp;</p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">&nbsp;</p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">&nbsp;</p>

<p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">&nbsp;</p>

<p class=MsoNormal align=center style='margin-top:5.0pt;margin-right:0in;
margin-bottom:5.0pt;margin-left:0in;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b>COMPUGEN LTD. <br>
CONDENSED CONSOLIDATED BALANCE SHEETS DATA <br>
</b>(U.S. dollars, in thousands)</p>

<p class=MsoNormal align=center style='margin-top:5.0pt;margin-right:0in;
margin-bottom:5.0pt;margin-left:0in;text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=523
 style='width:392.25pt;border-collapse:collapse;border-collapse:collapse !msorm' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman"">
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>&nbsp;</b></p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>September 30,</b></p>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>2003</u></b></p>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>Unaudited</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:11.0pt'>December 31,<u> 2002</u></b></p>
  <p class=MsoNormal align=center style='text-align:center' Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b><u style='font-size:11.0pt'>Audited</u></b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <h1 Style="margin-top:0in;

	margin-bottom:6.0pt;
	margin-left:0in;
	page-break-after:avoid;
	font-size:12.0pt;
	font-family:"Times New Roman";
	font-weight:bold"  style='margin-bottom:0in;margin-bottom:.0001pt;line-height:150%;font-size:10.0pt;line-height:150%'>&nbsp;</h1>
  </td>
  <td width=215 colspan=2 valign=top style='width:161.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p align=center style='text-align:center;line-height:150%;font-size:10.0pt;line-height:150%'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <h1 Style="margin-top:0in;

	margin-bottom:6.0pt;
	margin-left:0in;
	page-break-after:avoid;
	font-size:12.0pt;
	font-family:"Times New Roman";
	font-weight:bold" >ASSETS</h1>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <h1 Style="margin-top:0in;

	margin-bottom:6.0pt;
	margin-left:0in;
	page-break-after:avoid;
	font-size:12.0pt;
	font-family:"Times New Roman";
	font-weight:bold" >&nbsp;</h1>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <h1 Style="margin-top:0in;

	margin-bottom:6.0pt;
	margin-left:0in;
	page-break-after:avoid;
	font-size:12.0pt;
	font-family:"Times New Roman";
	font-weight:bold" >&nbsp;</h1>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Current assets</p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">&nbsp;</p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Cash, cash equivalents,
  short-term cash deposits, and marketable securities</p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">19,604</p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">48,402</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Receivables and prepaid
  expenses</p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">2,340</p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">4,581</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Inventories</p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">111</p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">111</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Total curent </b><b style='font-size:10.0pt'>assets</b></p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>22,055</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>53,094</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Long-term investments</b></p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Marketable securities </p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">45,180</p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">18,940</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Other assets</p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">1,670 </p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">1,422</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Property and equipment,
  net</b></p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>3,523 </b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>3,801</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Total assets</b></p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>72,428</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>77,257</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">&nbsp;</p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">&nbsp;</p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <h1 Style="margin-top:0in;

	margin-bottom:6.0pt;
	margin-left:0in;
	page-break-after:avoid;
	font-size:12.0pt;
	font-family:"Times New Roman";
	font-weight:bold" >LIABILITIES AND SHAREHOLDERS` EQUITY</h1>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <h1 Style="margin-top:0in;

	margin-bottom:6.0pt;
	margin-left:0in;
	page-break-after:avoid;
	font-size:12.0pt;
	font-family:"Times New Roman";
	font-weight:bold" >&nbsp;</h1>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <h1 Style="margin-top:0in;

	margin-bottom:6.0pt;
	margin-left:0in;
	page-break-after:avoid;
	font-size:12.0pt;
	font-family:"Times New Roman";
	font-weight:bold" >&nbsp;</h1>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Current liabilities</b></p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Accounts payable and
  accrued expenses</p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">5,274</p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">4,809</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">Deferred revenues</p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">1,730</p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman";font-size:10.0pt">1,595</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Total current
  liabilities</b></p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>7,004 </b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>6,404</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Long-term liabilities</b></p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p>Accrued severance pay</p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p>1,994 </p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p>1,832</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p>Other long-term liabilities</p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p>60 </p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p>140</p>
  </td>
 </tr>
 <tr style='height:9.15pt' style='height:9.15pt !msorm'>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:9.15pt'>
  <p>Investment in Evogene</p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:9.15pt'>
  <p>466</p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm;
  height:9.15pt'>
  <p>__</p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Total long-term
  liabilities</b></p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>2,520 </b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>1,972</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=107 valign=top style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>&nbsp;</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Total shareholders`
  equity</b></p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>62,904</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>68,881</b></p>
  </td>
 </tr>
 <tr>
  <td width=308 valign=top style='width:230.75pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>Total liabilities and
  shareholders` equity</b></p>
  </td>
  <td width=107 valign=bottom style='width:80.5pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>72,428</b></p>
  </td>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt 0in 5.4pt 0in 5.4pt !msorm'>
  <p class=MsoNormal Style="margin:0in;
	margin-bottom:.0001pt;
	font-size:12.0pt;
	font-family:"Times New Roman""><b style='font-size:10.0pt'>77,257</b></p>
  </td>
 </tr>
</table>

<p>&nbsp;</p>

<B><P align=center>____(3)____</B>&nbsp;</P></div>

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`
end

</TEXT>
</DOCUMENT>
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-----END PRIVACY-ENHANCED MESSAGE-----
