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Elbit Imaging Ltd. Announces First Quarter Results for 2008
Date:5/29/2008

of time and not necessarily over a specific quarter."

Mr. Yitzhaki also noted: "The financial strength of the Company was further reinforced by the trust placed in it by institutional financial bodies which enabled our subsidiary Plaza Centers NV to raise additional capital by expanding it's notes series in Israel. The significant cash balances of our Company, which grew as a result of the business activities of the Company, allow the Company to meet its long-term business plans. In addition, it must be noted that we have accelerated our activities both in terms of acquisitions in Europe, CEE and in India."

Mr. Yitzhaki further commented: "Recently, we have announced that our subsidiary company, Plaza Centers, obtained an exclusive license to operate a casino at Obuda Dream Island -- first of its kind in Europe enabling us to commence the development operations of this mega-project in it's prime location to become a leading leisure and entertainment resort attracting visitors from across Continental Europe and overseas."

About Elbit Imaging Ltd.

Elbit Imaging Ltd. ("EI") is a subsidiary of Europe Israel (M.M.S.) Ltd. EI's activities are divided into the following principal fields: (i) Initiation, construction, operation, management and sale of shopping and entertainment centers in Israel, Central and Eastern Europe and India; (ii) Hotels ownership, primarily in major European cities, as well as operation, management and sale of same through its subsidiary, Elscint Ltd.; (iii) Investments in the research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment, through its subsidiary, InSightec Ltd.; and (iv) Other activities consisting of the distribution and marketing of women's fashion and accessories through our wholly-owned Israeli subsidiary, Elbit Trade & Retail Ltd., and venture-capital investments.

Any forward looking statements with respect to EI's business, fin
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SOURCE Elbit Imaging Ltd.
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