In view of the situation in international markets and the business opportunities occurring and likely to occur in them, the Board of Directors of the Company today approved financial investments to be made by Management in marketable shares of certain European financial institutions. The shares will be purchased from time to time at the discretion of the Company's Management, up to a total sum of NIS 1.5 billion.

The Board of Directors of the Company might consider increasing the amount of the investment in the future.

In connection with the aforementioned purchases, the Company will enter into an agreement with a large international investment bank which has agreed to provide the Company with dedicated credit for purchasing marketable shares of European financial institutions. Initially, the credit line will be up to USD 250 million. Subject to fulfillment of certain conditions, the dedicated credit line could increase by a significant amount.