December 20 2009 Completion of the Sale of Control of Adgar to Direct IDI Holdings Ltd. 20/12/2009   Following the Company's immediate reports dated September 18 2009 (ref. 2009-01-235107) and October 26 2009 (ref. 2009-01-265023) pertaining to the signing of an agreement on September 17 2009 with Direct IDI Holdings Ltd. (hereinafter: "the Buyer") for the sale of 54,306,000 regular 1 NIS Par Value shares of subsidiary Adgar Investments Development Ltd. (hereinafter: "the Agreement", "the Sold Shares " and "Adgar", respectively) which constitutes 50.001% of the issued and paid-up share capital of Adgar (48.44% fully diluted), the Company is hereby honored to announce that all contingent terms for the completion of the agreement have been completed and that on December 17 2009 the deal was closed. In return for the Sold Shares, the Buyer paid the Company a total of 302 million NIS. The payment in question included an adjustment by way of depreciation of some 2.6 million NIS from the yield of the Sold Shares as denoted in the Agreement, which was done as a result of the restatement of Adgar's June 30 2009 Financial Statements, as published on December 11 2009. In addition, and in accordance with the Company's commitment to the Buyer, the Company informed Adgar that it was canceling the management agreement between the two parties. According to the provisions of the management agreement in question, the management agreement shall be concluded with 90 days notice. Therefore, the Adgar management agreement shall be concluded on March 17 2010.