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Last updated on April 20, 2014 at 5:20 EDT

Elbit Imaging Announces Update in its Court Proceeding With Bank Hapoalim

June 12, 2013

TEL AVIV, Israel, June 12, 2013 /PRNewswire/ –

Elbit Imaging Ltd. (“EI” or the “Company”) (TASE, NASDAQ: EMITF) announced today,
further to the Company’s announcement dated June 6, 2013, regarding the acceleration
notice received from Bank Hapoalim B.M. (“Bank”), demanding repayment within seven days of
the outstanding balance of approximately $58.15 million (approximately NIS 213.47
million), that on June 11, 2013, the Company filed a motion for a temporary restraining
order against the Bank, prohibiting the Bank from taking any action in accordance with the
acceleration notice above. Rather than grant the Company’s motion ex parte, the Court
ordered the Bank, the Official Receiver and the Legal Advisor to the Government of the
State of Israel to respond to the Company’s motion no later than June 17, 2013 and ordered
the Company to file its primary claim by such date.

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,
the Company operate and manage commercial and entertainment centers prior to their sale;
(ii) Hotels – Hotel operation and management; (iii) 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;
(iv) Residential Projects – Initiation, construction and sale of residential projects and
other mixed-use real property projects, predominately residential, located primarily in
India; and (v) Fashion Apparel – Distribution and marketing of fashion apparel and
accessories in Israel.

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 our relationship with our
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, 2012, 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 in 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
        shimony@elbitimaging.com

        Investor Contact:
        Mor Dagan
        Investor Relations
        Tel: +972-3-516-7620
        mor@km-ir.co.il

SOURCE Elbit Imaging Ltd.


Source: PR Newswire