Oil Refineries Announces Results of Extraordinary General Meeting Held June 10 2008

HAIFA, Israel, June 11 /PRNewswire-FirstCall/ — Oil Refineries Ltd. (“Oil Refineries” or the “Company”) announced today the results of the Extraordinary General Meeting held on June 10, 2008 in relation to the directors’ and position holders’ liability insurance coverage.

For the full wording of the resolution, please review the English convenient translation of the resolution available on the Company’s website – http;//http://www.orl.co.il/ under Investor Relations, Company Releases.

About Oil Refineries Ltd.

Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, operates Israel’s largest oil refinery. ORL operates sophisticated and state-of-the-art industrial facilities with refining capacity of 9 million tons of crude oil per year, with a Nelson complexity index of 7.4, providing a variety of quality products used in industrial operation, transportation, private consumption, agriculture and infrastructure. The company is also active in the area of Aromatics and Polymers through wholly-owned Gadiv Petrochemical Industries Ltd. and 50% owned Carmel Olefins Ltd. ORL is traded on the Tel Aviv Stock Exchange under the ticker ORL. For additional information please visit the Company’s website: http://www.orl.co.il/.

   Contacts   Company Contact:   Rami Sasson   EVP Business Development & Capital Markets   Oil Refineries Ltd.; Tel.+972-4-878-8114; ContactIREn@orl.co.il    Investor Relations Contact:   Ehud Helft \ Fiona Darmon   GK Investor Relations   Tel.+1-866-704-6710 \ +972-54-566-3221   info@gkir.com  

Oil Refineries Ltd

CONTACT: Company Contact: Rami Sasson, EVP Business Development &Capital Markets, Oil Refineries Ltd.; Tel.+972-4-878-8114;ContactIREn@orl.co.il; Investor Relations Contact:, Ehud Helft \ FionaDarmon, GK Investor Relations, Tel.+1-866-704-6710 \ +972-54-566-3221,info@gkir.com