The Company respectfully announces that on April 29, 2015 the Company was informed that a subsidiary completely controlled by the Company, won an Israel Land Authority Tender for purchasing two plots with a total area of 3,796 square meters in Ra'anana (for constructing 86 residential units and approx. 900 square meters of commercial areas) in consideration for approx. 72M NIS (including development costs). The Company foresees that establishing the potential project on the said real estate, might generate an income turnover of approx. 190M NIS (excluding VAT) for the Company along the project's lifetime.1
1 The Company's estimate regarding intakes from the potential project constitutes future forecast information as defined in the Securities Law, 5728-1968, based on information that the Company has as of the date of the report and includes the Company's estimates based, inter alia, on its past experience and the Company's intentions as of this date. This information might not be realized (entirely or partially) or realized in a way that is materially different from the Company's estimations and forecasts, for reasons that do not depend only on the Company and that the Company cannot foresee on the date of the report, including reliance on third parties with whom the Company will engage and developments in the general environment, as well as external factors affecting the Company's activity and risk factors that apply to the Company's activity as specified in the risk factors section of the Company's periodic report.