Company Profile For AFRIKA ISRA'EL LEHASHKA`OT BE`AM

Africa Israel Investments Ltd. (Africa Israel) is an Israel-based holding and investment company. The Company makes a range of investments, such as residential real estate, income-yielding properties, construction and infrastructure, energy, telecommunications and media, tourism and leisure, fashion and shopping malls. The Company initiates, constructs, leases or sells residential and commercial properties, in Israel and abroad. Africa Israel provides engineering and construction services through its subsidiary, Danya Cebus. It is active in the energy sector through Alon Israel Oil Company and Total Fina. The Company’s subsidiaries in the telecommunications and media sector engage in broadcasting, advertising and marketing. The Company operates Holiday Inn, Crown Plaza and Express hotels throughout Israel through its subsidiary, Africa Israel Hotels Ltd. Africa Israel is active in various countries, such as the United States, Canada, Russia ,Romania and the Netherlands.

BRIEF: For the six months ended 30 June 2009, Africa Israel Investments Ltd.'s total revenues increased 3% to NIS3.06B. Net loss totaled NIS668.9M, up from a net loss of NIS46.1M. Total revenues reflect a sharp increase in the revaluation of investment property in construction, as well as higher asset rental and operations inflows. Net loss reflects a sharp decrease in financing income, in addition to higher amortization costs.