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G. Willi-Food Signs Agreement to Purchase Controlling Interest in Shamir Salads - An Israeli Mediterranean Food Manufacturer

Posted on: Thursday, 3 January 2008, 09:00 CST

YAVNE, Israel, January 3 /PRNewswire-FirstCall/ -- G. Willi-Food International Ltd. (the "Company" or "Willi Food"), one of Israel's largest food importers and a single-source supplier of one of the world's most extensive range of quality kosher food products, today announced that, further to its announcement on November 2, 2007, it had signed a binding agreement with the owners of Shamir Salads pursuant to which the Company is expected to acquire a 51% interest in Shamir Salads. The agreement has been approved by Willi Food's Board of Directors, and closing is subject to approval from the Israeli Anti-Trust Authorities. Shamir Salads is an Israeli manufacturer and distributor of pre-packaged chilled kosher Mediterranean dips and spreads in Israel and abroad. The Company expects to consolidate the results of Shamir Salads following approval of the Israeli Anti-Trust Authorities.

Mr. Zwi Williger, President and COO of Willi Food commented, "We are extremely pleased to have signed this agreement and be in a position to expand our product offerings through Shamir Salad's line of kosher Mediterranean hummus, dips and spreads, appetizers and gourmet specialties. The popularity of Mediterranean style foods is growing not only in our home market but abroad as well. As part of Willi Food's growth strategy, we intend to build a manufacturing plant in the US that will allow for distribution of Shamir's product line all throughout North America."

About G. Willi-Food International, Ltd.

G. Willi-Food International Ltd. is one of Israel's largest food importers and a single-source supplier of one of the world's most extensive ranges of quality kosher food products. It currently imports, markets and distributes more than 400 food products manufactured by some 100 top-tier suppliers throughout the world to more than 1,700 customers. Willi Food excels in identifying changing tastes in its markets and sourcing high-quality kosher products to address them. The Company's Gold Frost Ltd. subsidiary develops and distributes kosher chilled and frozen dairy food products internationally, while its Laish Israeli subsidiary and joint venture with the Baron Family engage in the global import, export and distribution of kosher products worldwide. For more information, please visit the Company's website at http://www.willi-food.co.il/.

This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding trends, demand for our products and expected revenues, operating results, and earnings. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. These risks and other factors include but are not limited to: changes affecting currency exchange rates, including the NIS/U.S. Dollar exchange rate, payment default by any of our major clients, the loss of one of more of our key personnel, changes in laws and regulations, including those relating to the food distribution industry, and inability to meet and maintain regulatory qualifications and approvals for our products, termination of arrangements with our suppliers, in particular Arla Foods, loss of one or more of our principal clients, increasing levels of competition in Israel and other markets in which we do business, changes in economic conditions in Israel, including in particular economic conditions in the Company's core markets, our inability to accurately predict consumption of our products and risks associated with product liability claims. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in the Company's Annual Report on Form 20-F for the year ended December 31, 2006, filed with the Securities and Exchange Commission. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. We do not assume any obligation to update the forward-looking information contained in this press release.

Company Contact: G. Willi Food International Ltd. Gil Hochboim, Vice President +972-8-932-1000 gil@willi-food.co.il IR Contact: The Global Consulting Group Christopher Chu +1-646-284-9426 cchu@hfgcg.com

G. Willi-Food International Ltd

CONTACT: Company Contact: G. Willi Food International Ltd., GilHochboim, Vice President, +972-8-932-1000, gil@willi-food.co.il; IR Contact:The Global Consulting Group, Christopher Chu, +1-646-284-9426, cchu@hfgcg.com

Source: PRNewswire-FirstCall

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