Company Profile For Africa Israel Properties Ltd

Africa Israel Properties Ltd. is an Israel based real estate operator. The Company and its subsidiaries make up Africa Israel Properties Group. The Group's operations are divided into two main geographical areas: Israeli operations which are focused on high-yielding real estate development, leasing and management mainly for industrial, office and trade use; and operations outside Israel, which are situated mainly in central and eastern Europe and are divided into two main business activities: High-Yielding Real Estate and Real Estate Development. High-Yielding Real Estate Operations include development, leasing and management of real estate mainly for industrial, office and trade. Real Estate Development Operations aim at residential use and focus on identifying, purchasing and developing land with the aim of selling the real estate. The group operates in Israel, Germany, Netherlands, Check republic, Rumania, Bulgaria, Serbia, Latvia, Poland, Hungary and The Philippines.

BRIEF: For the six months ended 30 June 2009, Africa Israel Properties Ltd.'s revenues increased 60% to NIS669.2M. Net income increased 18% to NIS91.3 Total revenues reflect higher property rental and operating revenues, as well as a sharp increase in market values of investment property in construction. Net income also reflects lower general, administrative and miscellaneous expenses, as well as higher financing income.