Last updated on April 24, 2014 at 1:21 EDT

Elbit Imaging Announces Filing of Purported Class Action Lawsuit

March 4, 2013

TEL AVIV, Israel, March 4, 2013 /PRNewswire/ –

Elbit Imaging Ltd. (“EI” or the “Company”) (TASE, NASDAQ: EMITF) announced today that,
on March 3, 2013 it was informed that a purported class action lawsuit was filed on
February 25, 2013 by Yuki Shemesh Ltd., one of the Company’s note holders, in the Israeli
Tel-Aviv Jaffa District Court, against the Company, its controlling shareholders, officers
and others. The complaint requests that the court recognize the lawsuit as a valid class
action and alleges, among other things, that the Company’s announcements on February 5,
2013 and February 19, 2013 that it would suspend its principal and interest payments to
its note holders constitutes a breach of the trust agreements relating to the Company’s
Series A and Series B notes. The lawsuit seeks damages in the amount of NIS 240 million
(approximately $64.5 million). The Company plans to defend against it vigorously.

About Elbit Imaging Ltd.

Elbit Imaging Ltd. operates in the following principal fields of business: (i)
Commercial and Entertainment Centers – Initiation, construction and sale of shopping and
entertainment centers and other mixed-use real property projects, predominantly in the
retail sector, located in Central and Eastern Europe and in India, primarily through its
subsidiary Plaza Centers N.V. In certain circumstances and depending on market conditions,
we operate and manage commercial and entertainment centers prior to their sale; (ii) U.S.
Real Property – Investment in commercial real property in the United States; (iii) Hotels
- Hotel operation and management; (iv) Medical Industries – (a) research and development,
production and marketing of magnetic resonance imaging guided focused ultrasound treatment
equipment and (b) development of stem cell population expansion technologies and stem cell
therapy products for transplantation and regenerative medicine; (v) Residential Projects -
Initiation, construction and sale of residential projects and other mixed-use real
property projects, predominately residential, located primarily in India; (vi) Fashion
Apparel – Distribution and marketing of fashion apparel and accessories in Israel; and
(vii) Other Activity – venture capital investments.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Any forward-looking statements in our releases include statements regarding the
intent, belief or current expectations of Elbit Imaging Ltd. and our management about our
business, financial condition, results of operations, and its relationship with its
employees and the condition of our properties. Words such as “believe,” “would,” “expect,”
“intend,” “estimate” and similar expressions are intended to identify forward-looking
statements but are not the exclusive means of identifying such statements. Actual results
may differ materially from those projected, expressed or implied in the forward-looking
statements as a result of various factors including, without limitation, the factors set
forth in our filings with the Securities and Exchange Commission including, without
limitation, Item 3.D of our annual report on Form 20-F for the fiscal year ended December
31, 2011, under the caption “Risk Factors.” Any forward-looking statements contained in
our releases speak only as of the date of such release, and we caution existing and
prospective investors not to place undue reliance on such statements. Such forward-looking
statements do not purport to be predictions of future events or circumstances, and
therefore, there can be no assurance that any forward-looking statement contained our
releases will prove to be accurate. We undertake no obligation to update or revise any
forward-looking statements.

        For Further Information:

        Company Contact:
        Shimon Yitzhaki
        Chairman of the Board of Directors
        Tel: +972-3-608-6048

        Investor Contact:
        Mor Dagan
        Investor Relations
        Tel: +972-3-516-7620

SOURCE Elbit Imaging Ltd.

Source: PR Newswire