Business Lawsuit

Tel Aviv, Israel: (Feb-20-08) CP Holdings Ltd. brought charges against Elbit Imaging Ltd., submitting a claim against the company in the High Court of Justice in London, the United Kingdom, over damages in the amount of approximately Euro 33.5 million. Sources close to the case stated that the parties reached a settlement in the case in which Elbit Imaging Ltd. agreed to pay an aggregate amount of $5 million, of which US $3 million will be paid directly to CP Holdings Ltd. The remaining $2 million will be donated to charity. Company sources said that following the settlement, all pending claims against the company will be dismissed, and a Notice of Discontinuance of Claim has been filed with the High Court of Justice in London, the United Kingdom. [TRADING MARKETS: BUSINESS LAWSUIT]

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Published on Feb-21-08