Company Update

Emblaze Ltd (LSE:BLZ) ("Emblaze" or "the Company") Company Update Fortissimo Call Option Tel Aviv, Israel, 20 February, 2014 Fortissimo Call Option Capitalised terms will have the meanings ascribed to them in the Company'sannouncements of 15 August 2013, 22 August 2013 and 14 February, 2014. Further to the Company's announcement of 14 February, 2014, Israel 18 B.V.formerly known as Chabad 770 B.V. ("Israel 18") has informed the Company thatit has entered into agreements with Fortissimo in respect of the FortissimoCall Option (the "Amendment Agreements"). Pursuant to the Amendment Agreements,Israel 18 expects to exercise the Fortissimo Call Option in accordance with thefollowing time-line and for the following prices: * 3,342,233 shares of Emblaze for consideration of US$ 5,000,000, which Israel 18 has already paid. In this regard it should be noted that the said portion of shares have not yet been transferred to Israel 18 and they are expected to be transferred to Israel 18's account within the next few days; * 2,770,762 shares of Emblaze for consideration of US$ 4,145,075, which Israel 18 expects to pay by 31 March, 2014 (the "March Instalment"); and * 2,770,762 shares of Emblaze for consideration of US$ 4,145,075, which Israel 18 expects to pay by 30 April, 2014 (the "April Instalment"). As consideration for the extension of the period for exercise of the FortissimoCall Option, Israel 18 will pay, in addition to the above: * a sum of US$ 250,000 together with payment in relation to each of the March Instalment and the April Instalment; and * a sum of US$ 700,000 upon the completion of the purchase by Israel 18 of all of Fortissimo's holdings in the Company or by the 31st of December, 2014 - whichever is earlier (the "Completion"). The Amendment Agreements contain provision for penalty payments in case of adelay in payment of the above consideration. The Company will continue to notify shareholders of any updates with regard tothe Call Options by issuing further announcements via PRN, a RegulatoryInformation Service. All such announcements may also be viewed at the same timeon the Company's website at www.emblaze.com. Enquiries: Eyal Merdler, CFO: [email protected] The Emblaze Group has been traded on the London Stock Exchange (LSE: BLZ) since1996. www.emblaze.com

ERM/424975v1