29th Sep 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]
28 September 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 the Event: Immediate Report
Further to reports published during the weekend regarding proceedings undertaken by the Federal authorities with regard to the Washington Mutual group, and the sale of its banking assets and liabilities to J.P. Morgan Chase, Bank Leumi le-Israel B.M. (the "Bank") reports that the Leumi Group's exposure to the Washington Mutual group is some US$ 50 million; such exposure being made up as follows:
- Some US$27 million in debentures issued by Washington Mutual Bank.
- Some US$23 million in debentures and credit derivatives (CDS) issued by the parent company, Washington Mutual, Inc.
At this early stage, it is difficult to estimate the scope of such damage as may be caused to the Leumi Group as a result of the said exposure.
Date and time at which the corporation first became aware of the event or matter:
26 September 2008.
________________________________________________________________
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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