SECURITIES AND EXCHANGE COMMISSION WASHINGTONCOMMISSIONWASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANTISSUERPURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of February ~~January~~ 2003.

MARNETICS BROADBAND TECHNOLOGIES LTD. (Translation of Registrant'’s Name Into English)

10 Hayezira Street, Ra’anana ~~Raa'nana~~ 43000 Israel (Address of Principal Executive Offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F X Form 40-F _____

(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)

Yes _____ No X

(If "“Yes"” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ~~_______~~_____.)

~~Board~~Ra’anana, ofIsrael, ~~Directors~~February ~~composition:~~6, ~~Effective~~2003 as– ofMarnetics ~~November~~Broadband ~~26,~~Technologies ~~2002, Dr~~Ltd. ~~Ora~~(AMEX:MXB) ~~Setter, was~~(the ~~appointed~~“Company”) announced astoday anthat ~~External Director~~on toFebruary 2, 2003 the ~~Company's Board~~American ~~of Directors~~Stock inExchange (“AMEX” or the ~~Annual~~“Exchange”), ~~General~~notified ~~Meeting~~the ofCompany that the ~~shareholders~~Company ~~held~~no onlonger ~~such~~complies ~~date.~~with ~~Effective~~the asExchange’s ofcontinued ~~December~~listing ~~11,~~standards ~~2002,~~and ~~Mr.~~that ~~George~~therefore ~~Balot~~the ~~appointed~~Company’s Ordinary asShares aare ~~member~~subject ofto ~~the~~being ~~Company's~~delisted ~~Board~~from ofthe ~~Directors~~Exchange.

~~Speedwise~~The ~~Technologies~~Exchange ~~Ltd. Marnetics Ltd.,~~has ~~the~~also ~~wholly~~notified ~~owned subsidiary of~~ the Company~~, owns~~ aof ~~13.12% interest in Speedwise Technologies Ltd. ("Speedwise"). In October 2002, Speedwise entered into an agreement to sell all~~ its ~~assets~~intention ~~and intellectual property~~ to ~~Orsus~~proceed ~~Solutions~~with ~~Ltd., ("Orsus") an Israeli technology company. In consideration for~~ the ~~sale~~filing of ~~its~~an ~~assets~~application ~~and intellectual property, Speedwise shall receive both~~with ~~a cash consideration as well as shares of Orsus. The final determination of~~ the ~~shares consideration will depend upon, in part, on Speedwise products future revenue performance. The agreement has~~ ~~been approved by the shareholders of the companies and is still pending final~~Securities ~~due-diligence~~ and ~~closing. The Company~~ isExchange ~~not~~Commission ~~able~~(the at“SEC”) ~~this time~~ to ~~finally assess the financial impact~~ ofstrike the ~~consummation~~ ofCompany’s ~~the~~Ordinary ~~sale on its financial statements. The company estimates that the agreement indicates a reduction~~Shares infrom ~~the~~listing ~~value~~and ofregistration ~~its~~on ~~investment in Speedwise in~~ the ~~amount of approximately US$ 0~~Exchange.5 ~~Million to US$ 0.55 Million.~~

The notice stated that the ~~SIGNATURES~~Company’s Ordinary Shares are subject to delisting due to falling below Section 1003(b)(i)(C) of the AMEX Company Guide, in that the Company’s aggregate market value of shares publicly held is less than $1,000,000 for more than 90 consecutive days, as well as the substantial period of time at which the Company’s Ordinary Shares have been selling for a low price per share (Section 1003(f)(v)).

~~Pursuant~~The toCompany ~~the~~has ~~requirements~~today ofsubmitted ~~the~~a request ~~Securities~~for ~~Exchange~~an ~~Act~~oral ofhearing ~~1934,~~before ~~the~~a ~~registrant~~committee ~~has~~of ~~duly~~the ~~caused~~Exchange ~~this~~in ~~report~~order to appeal the beExchange’s ~~signed~~above ondetermination. ~~its~~There ~~behalf~~can bybe no assurance that the ~~undersigned,~~Company’s request ~~thereunto~~for ~~duly~~continued ~~authorized~~listing will be granted.

~~MARNETICS~~If ~~BROADBAND~~and ~~TECHNOLOGIES~~when ~~LTD~~appropriate, the Company may consider seeking one or more market makers to quote its Ordinary Shares on the Over The Counter Bulletin Board (the “OTCBB”) or the Pink Sheets. There can be no assurance, however, that the Company’s Ordinary Shares will be so quoted.

Dated: January 8, 2003 By: _______________________________ /s/ Menachem Reinschmidt, COBSIGNATURES

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.

Dated: February 9, 2003

MARNETICS BROADBAND TECHNOLOGIES LTD.

By:
——————————————
Ilan Hadar, Acting CEO and CFO

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