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Shikun & Binui Subsidiary Signs Agreement to Sell Land in Netanya

August 13, 2009

RAMAT GAN, Israel, August 13 /PRNewswire-FirstCall/ — Shikun & Binui
Ltd. (TASE: SKBN.TA) (“Shikun & Binui” or the “Company”), a member of the
Arison Group and Israel’s leading infrastructure and real estate company,
announced today that on August 12, 2009, Shikun & Binui Nadlan Ltd. (a wholly
owned subsidiary active in real estate development in Israel), entered into
an agreement with an independent third party (the “Purchaser”), under which
Shikun & Binui Nadlan Ltd. will sell land in Netanya, Israel, to the
Purchaser.

The Company expects to record a net capital gain in its third quarter
2009 financial statements, resulting from the aforesaid transaction, of
approximately NIS 20 million.

About Shikun & Binui

Shikun & Binui, a member of the Arison Group, is the leading
infrastructure and real estate company in Israel. The Group’s subsidiaries
have been operating since 1924. The Group’s companies have gained extensive
experience in complex construction and infrastructure projects in Israel and
abroad. Shikun & Binui Group has proven achievements in building, residential
neighborhoods, commercial and industrial buildings, as well as large-scale
transportation, infrastructure and ecological projects, water purification
and desalination and development of international projects. Shikun & Binui is
a leading, multi-faceted and socially responsible international group that
produces balance between the business, social and environmental
accomplishment. The group places emphasis on honesty, transparency,
innovation, and excellence. The group has accepted upon itself a leadership
role in creation of a sustainable and progressive life environment.

    Company Contact:
    Doron Blachar, CFO
    Shikun & Binui
    Tel: +972-3-630-1518

    Investor Relations Contacts:
    Ehud Helft / Fiona Darmon
    GK Investor Relations
    Tel: +1-646-797-2868 / +97-52-695-4400
    Email: info@gkir.com

SOURCE Shikun & Binui Ltd.


Source: newswire



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