22nd May 2008 07:00
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]
21 May 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 Report: Allotment of 20% of Leumi Card to Canit
Bank Leumi le-Israel B.M. (the "Bank") announces that today, 21 May 2008, the Board of Directors of the Bank resolved to approve a transaction, pursuant to which Leumi Card Ltd. ("Leumi Card") will allot to Canit - Investment and Finance Management Ltd. ("Canit") shares of Leumi Card constituting 20% of the issued and fully-paid share capital of Leumi Card, for consideration of NIS 360 million which will be paid to Leumi Card.
Canit was granted regular minority protection rights as part of the transaction, and the right to appoint two directors. In addition, Leumi Financial Holdings Ltd. (a subsidiary of the Bank and the sole shareholder of Leumi Card) received various rights which are regularly granted upon a sale or introduction of a partner.
The estimated net profit to the Bank arising from the said allotment is some NIS 244 million.
Date and time at which the corporation first became aware of the event or matter:
21 May 2008 at 15:30.
________________________________________________________________
Name of Electronic Reporter: Jennifer Janes, Position: Executive Vice President, Group Secretary
POB 2 Tel Aviv 61000, Phone: + 972 3 5149419, Facsimile: + 972 3 5149732,
Electronic Mail: [email protected]
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