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Midroog Ltd., an Affiliate of Moody's Investors Services, Rates Potential new Debt of Elbit Imaging

Thursday, March 18, 2010 Corporate News
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TEL AVIV, Israel, March 18, 2010 Elbit ImagingLtd. ("EI") (NASDAQ: EMITF) announced today that Midroog Ltd., an affiliateof Moody's Investors Services, has informed EI that its "A2/Stable" rating,on a local scale, would also apply to a new series of debentures in anaggregate principal amount of up to NIS 100 million that EI may issue torepay principal amounts of debt that comes due in 2010. This credit ratingwould also apply to additional debentures in the new series in an aggregateprincipal amount of up to NIS 400 million that EI may issue in exchange foroutstanding debentures, subject to certain conditions.
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EI has made no decision with respect to any future debt offering, andthere is no certainty that any such debt offering will be executed. Anyfuture debt offering, if made, will be made in Israel to residents of Israelonly, and any debt instruments that may be offered will not be registeredunder the U.S. Securities Act of 1933, as amended, and may not be offered orsold in the United States absent registration or an applicable exemption fromU.S. registration requirements.
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About Elbit Imaging Ltd.

The activities of Elbit Imaging Ltd. are divided into the followingprincipal fields: (i) Shopping and Entertainment Centers - Initiation,construction, operation, management and sale of shopping and entertainmentcenters and other mixed-use real property projects, predominantly in theretail sector, located in Central and Eastern Europe and in India; (ii)Hotels - Hotel ownership, operation, management and sale, primarily in majorEuropean cities; (iii) Image Guided Treatment - Investments in the researchand development, production and marketing of magnetic resonance imagingguided focused ultrasound treatment equipment; (vi) Residential Projects -Initiation, construction and sale of residential projects and other mixed-usereal projects, predominantly residential, located in Eastern Europe and inIndia; and (v) Other Activities - (a) The distribution and marketing offashion apparel and accessories in Israel; (b) venture capital investments;and (c) investments in hospitals, and farm and dairy plants in India, whichare in preliminary stages.

Any forward-looking statements in our releases include statementsregarding the intent, belief or current expectations of Elbit Imaging Ltd.and our management about our business, financial condition, results ofoperations, and its relationship with its employees and the condition of ourproperties. Words such as "believe," "expect," "intend," "estimate" andsimilar expressions are intended to identify forward-looking statements butare not the exclusive means of identifying such statements. Actual resultsmay differ materially from those projected, expressed or implied in theforward-looking statements as a result of various factors including, withoutlimitation, the factors set forth in our filings with the Securities andExchange Commission including, without limitation, Item 3.D of our annualreport on Form 20-F for the fiscal year ended December 31, 2008 and the draftprospectus referred to in this press release, under the caption "RiskFactors." In addition, the proposed IPO is subject to risks facing any publicoffering, including without limitation, general economic conditions, theconditions of the capital markets, the interest level of investment banks andinvestors in the IPO and the performance of our businesses. Anyforward-looking statements contained in our releases speak only as of thedate of such release, and we caution existing and prospective investors notto place undue reliance on such statements. Such forward-looking statementsdo not purport to be predictions of future events or circumstances, andtherefore, there can be no assurance that any forward-looking statementcontained our releases will prove to be accurate. We undertake no obligationto update or revise any forward-looking statements. All subsequent written ororal forward-looking statements attributable to us or persons acting on ourbehalf are expressly qualified in their entirety by the cautionary statementsset forth in our filings with the Securities and Exchange Commissionincluding, without limitation, Item 3.D of our annual report on Form 20-F forthe fiscal year ended December 31, 2008, under the caption "Risk Factors."For Further Information: Company Contact: Investor Contact: Dudi Machluf Mor Dagan Chief Executive Officer (Co-CEO) Investor Relations Tel:+972-3-6086024 Tel:+972-3-516-7620 [email protected] [email protected]

SOURCE Elbit Imaging Ltd.
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