22nd Jan 2008 08:23
Leumi International Investments NV22 January 2008 BANK LEUMI LE-ISRAEL B.M. - (GUARANTOR - GUARANTEED EURO MEDIUM TERM NOTE PROGRAMME OF LEUMI INTERNATIONAL INVESTMENTS N.V.) Translation of Immediate Report Bank Leumi le-Israel B.M. Registration No. 520018078 Securities of the Corporation are listed on The Tel Aviv Stock Exchange Abbreviated Name: Leumi Leumi House, 34 Yehuda Halevi Street, Tel Aviv 65546 Phone: + 972 3 5148111, + 972 3 5149419; Facsimile: + 972 3 5149732 Electronic Mail: [email protected] 22 January 2008 To: Israel Securities Authority (www.isa.gov.il) The Tel Aviv Stock Exchange (www.tase.co.il) Immediate Report regarding an Event or Matter falling outside the Ordinary Course of Business of the Corporation Pursuant to Regulation 36(a) of the Securities (Periodic and Immediate Reports) Regulations, 1970 Nature of Event: Approval of Claim as Class Action Further to previous reports of Bank Leumi le-Israel B.M. (the "Bank"), regardinga petition for the approval of a claim as a class action (the "Petition") filedin the Tel Aviv-Jaffa District Court against the Bank, Bank Hapoalim B.M. andIsrael Discount Bank Ltd., whereby it is alleged that the said banks chargedtheir customers interest for unlinked shekel credit, a commission for creditallotment and fixed management fees with regard to debitory current accounts atidentical rates and amounts, as a result of price coordination and a restrictivearrangement, which are prohibited under the Restrictive Trade Practices Law,1988, it is hereby announced that on 21 January 2008 the Bank received a rulingof the District Court regarding approval of the claim as a class action. The remedy requested in the action is the refund of the alleged over-charging tothe said customers of the banks, who took out unlinked shekel credit or a"retroactive reduction" of the aforementioned interest and commission ratescollected by the banks during the past decade, in an estimated aggregate amountof NIS 7 billion (while in the body of the petition, it is alleged that theaggregate damage is NIS 10 billion). The action does not clearly state whichspecific amount is attributable to each of the banks. The Bank is of the view that a petition for permission for leave to appeal canbe filed against the said ruling, and will act accordingly. Date and time at which the corporation first became aware of the event ormatter:21 January 2008 at 10:00._____________________________________________________________Name of Electronic Reporter: Jennifer Janes, Position: Executive Vice President,Group SecretaryPOB 2 Tel Aviv 61000, Phone: + 972 3 5149419, Facsimile: + 972 3 5149732,Electronic Mail: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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