Elbit Imaging Ltd. Announces Agreement with Bank Leumi

TEL AVIV, Israel, July 1, 2014 / PRNewswire / -

Elbit Imaging Ltd. (TASE, NASDAQ: EMITF) ("Elbit" or the "Company") announced today, following its announcement of 20 February 2014 (notice "before"), the Company and the Bank Leumi Le Israel BM (the "Bank Leumi") have reached an agreement on the terms of the draft of a dispute between the parties with respect to the liability of the company for the Bank Leumi regulations (which has reached "Regulations"). Consumption rules shall be subject to the approval of the District Court of Tel-Aviv. Under Regulation Bank Leumi get owned all the assets in the books of the Company and the Bank Leumi held compensate for the market value of these securities (about 8.7 million NIS on the basis of their market price) against the debt of the Company (the "Balance"). In addition, the ordinary shares and bonds would be held in trust under the debt restructuring of the Company held for the benefit of Bank Leumi as in the previous announcement (the "Debt Restructuring") describes the transfer of Bank Leumi, once the amount of common stock and the notes of a value equal deducted from the offset value. Regulation provides the full satisfaction of the obligation of the Company to the Bank Leumi under the debt restructuring and loan agreement between the parties on May 5, 2011, and Bank Leumi free any lien in their favor registered assets Society. The Regulation also provides for the mutual release of claims. The rest of the shares in trust and notes will be deleted.

About Elbit Imaging Ltd.

Elbit Imaging Ltd. is located in the following main areas: (i) Commercial and Entertainment Centers - Initiation, construction and sale of shopping and leisure properties and other mixed-use projects, especially in retail, in central and eastern Europe and in India is primarily through its subsidiary Plaza Centers NV In certain circumstances and depending on market conditions, work and manage commercial and entertainment centers prior to the 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) the development of population growth stem cell technology 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 estate projects, primarily residential, especially in India; (V) Fashion Apparel - distribution and marketing of clothing and fashion accessories in Israel.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

All forward-looking statements in our releases include statements regarding the intent, belief or current expectations of Elbit Imaging Ltd. and our management of our business, financial position, results of operations and the relationship with its employees and the condition of our properties. Words such as "believe," "could," "expects," "intends," "estimates" and similar expressions are intended to identify forward-looking statements but are not the only means of identification. Actual results may differ materially expressed or in the forward-looking statements due to various factors from those projected, including, without limitation, implied in our filings with the Securities and Exchange Commission, including, described without restriction factors, "factors of risk." Articles 3 D contained in our Annual Report on Form 20-F for the year under the title All forward-looking statements in the publications ended December 31, 2013 relate only to the date of this press release, and we caution investors existing and potential should not place undue reliance on these statements. These statements are not to be as predictions of future events or circumstances, and therefore there is no guarantee that all forward-looking statements contained our releases will prove to be correct. We assume no obligation to update any forward-looking statements or to revise.

For more information:

Company Contact:

Ron Hadassi

Chairman of the Board of Directors

Tel: +972-3-608-6048

ron@elbitimaging.com

SOURCE Elbit Imaging Ltd.

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