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Immediate Report

The Company is pleased to announce that on 15.4.2015, the Company was informed of the win of its wholly owned subsidiary in the ILA tender to acquire 2,855 square meters of land in Bat Yam (for the construction of 83 residential units and approximately 4000 square meters of commercial and employment space) for a consideration of NIS 58 million (including development expenses). The Company expects that the construction of the potential project on said land may generate receipts of NIS 200 million (not including VAT) for the Company throughout the lifespan of the project.
The Company's assessment regarding potential project receipts is forward looking information, as defined in the Securities Law 5728-1968, which is based on information available to the Company on the report date and includes the Company's assessment that is based on, inter alia, its past experience as well as the Company's plans as of this date. This information (all or some) might not materialize or might materialize in a materially different manner than expected and from company projections as a result of reasons not exclusively in control of the Company and that the Company cannot have predicted on the report date, including dependency on third parties with whom the Company engaged and developments in the general environment as well as external factors that affect Company operations, such as risk factors that apply to Company operations and that are specified in the section on risk factors in the Company's periodic report.