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Ellomay Capital’s Farm-in to 20% of the Participating Interests in the Yitzchak Oil & Gas Exploration and Drilling License Finalized

January 11, 2012

TEL-AVIV, Israel, January 11, 2012 /PRNewswire/ –

Ellomay Capital Ltd. (NYSE Amex: ELLO) (“Ellomay” or the “Company”), announced today
that the Israeli Petroleum Commissioner approved the farm-in of Ellomay Oil and Gas 2011
LP, a limited partnership whose general partner is a wholly-owned subsidiary of Ellomay,
to 20% of the participating interests in the Yitzchak oil and gas exploration and drilling
license in the Mediterranean sea (the “Farm-In Transaction”). The Farm-In Transaction is
now unconditional and effective.

About Ellomay Capital

Ellomay Capital is an Israeli public company whose shares are listed on the NYSE Amex
stock exchange, which focuses its business in the energy and infrastructure sectors
worldwide and is chaired by Mr. Shlomo Nehama, former Chairman of Bank Hapoalim. Ellomay
Capital’s assets include ten photovoltaic plants in Italy with an aggregated capacity of
approximately 11 MW and holdings in Dorad, Israel’s largest private power plant, which is
currently under construction and is expected to produce approximately 800MW, representing
about 8% of Israel’s current electricity consumption.

Information Relating to Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks
and uncertainties. All statements, other than statements of historical facts, included in
this press release regarding our plans and objectives of management are forward-looking
statements. The use of certain words, including the words “plan,” “estimate,” “project,”
“intend,” “expect,” “believe” and similar expressions are intended to identify
forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995. We may not actually achieve the plans, intentions or expectations disclosed
in our forward-looking statements and you should not place undue reliance on our
forward-looking statements. Various important factors could cause actual results or events
to differ materially from those that may be expressed or implied by our forward-looking
statements. These and other risks and uncertainties associated with our business are
described in greater detail in the filings we make from time to time with Securities and
Exchange Commission, including our Annual Report on Form 20-F. The forward-looking
statements are made as of this date and the Company does not undertake any obligation to
update any forward-looking statements, whether as a result of new information, future
events or otherwise.

        Contact:
        Kalia Weintraub
        CFO
        Tel: +972(3)797-1111
        Email: kaliaw@ellomay.com

SOURCE Ellomay Capital Ltd


Source: PR Newswire