SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934

~~For the month of October 2002.~~ ~~MARNETICS~~FORM BROADBAND TECHNOLOGIES LTD. (Translation of Registrant's Name Into English) 10 Hayezira Street, Ra'anana 43000 Israel (Address of Principal Executive Offices)6-K

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

For the month of January 2003.

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

10 Hayezira Street, 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__~~ 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__~~X

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

~~Notice~~Board of ~~Proxy~~Directors ~~filing~~composition: Effective as of November 26, 2002, Dr. Ora Setter, was appointed as an External Director to the Company's Board of Directors in the Annual General Meeting of the shareholders held on such date. Effective as of December 11, 2002, Mr. George Balot appointed as a member of the Company's Board of Directors.

~~The~~Speedwise ~~Company~~Technologies ~~will~~Ltd. Marnetics Ltd., ~~hold~~the anwholly ~~Annual~~owned subsidiary ~~General Meeting~~ of the ~~shareholders on~~ ~~Tuesday~~Company, ~~November~~owns ~~26,~~a ~~2002~~13.12% atinterest ~~11:00 AM~~ in ~~Hotel~~Speedwise Technologies Ltd. ("Speedwise"). In ~~CEYLAN~~October ~~INTERCONTINENTAL~~2002, ~~Asker~~Speedwise ~~Ocagi~~entered ~~Cad.~~into ~~No:1~~an ~~Taksim~~agreement ~~80200,~~to ~~Istanbul,~~sell ~~Turkey,~~all ~~Tel:~~its ~~+90~~assets ~~212~~and ~~231 2121.~~intellectual property ~~A copy~~to ofOrsus ~~the~~Solutions ~~Company’s~~Ltd., ("Orsus") ~~2001~~an ~~Annual~~Israeli technology company. In ~~Report~~consideration for onthe ~~Form~~sale ~~20-F,~~of ~~which~~its ~~contains~~assets and ~~consolidated~~intellectual property, Speedwise shall receive both ~~financial~~a ~~statements~~cash consideration as ~~and~~well ~~other~~as ~~information~~shares of ~~interest~~Orsus. The tofinal ~~shareholders~~determination of the shares consideration will depend upon, in part, on Speedwise products future revenue performance. The agreement has isbeen approved ~~being~~by ~~mailed~~the shareholders of ~~with~~ the companies and ~~Notice~~is still pending final due-diligence and closing. The Company ~~the~~is ~~enclosed~~not ~~Proxy~~able ~~Statement~~at this time to finally assess the financial impact of the consummation of the sale on orits ~~about~~financial statements. The ~~Thursday,~~company ~~October~~estimates ~~31,~~that ~~2002~~the toagreement ~~all~~indicates ~~shareholders~~a reduction in the value of ~~record~~its oninvestment ~~the Record~~in ~~Date.~~Speedwise ~~The~~in ~~Proxy~~the ~~Statement~~amount isof ~~hereby~~approximately ~~attached~~US$ 0.5 Million to ~~this~~US$ ~~report~~0.55 Million.

SIGNATURES

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.

MARNETICS BROADBAND TECHNOLOGIES LTD.

Dated: ~~October~~January 308, ~~2002~~2003 By:~~______________________________~~ _______________________________ /s/ Menachem Reinschmidt, ~~CEO~~COB

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