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Elbit Imaging Ltd. Announces US$19,829,643 Investment in its Subsidiary InSightec Ltd., in an Internal Round of Financing
Date:11/29/2007

TEL-AVIV, Israel, Nov. 29 /PRNewswire-FirstCall/ -- Elbit Imaging Ltd. (TASE, Nasdaq: EMITF) ("EI" or the "Company") announced that on November 28, 2007, InSightec Ltd. ("InSightec"), a subsidiary of the Company reported that it has signed and consummated an agreement for an internal round of financing in the aggregate amount of $30 million from its existing investors, namely: Elbit Ultrasound (Netherlands) B.V., a fully owned subsidiary of the Company ("EUN"); GE Capital Equity Holdings Inc., a subsidiary of General Electric Company (NYSE: GE); MediTech Advisors LLC ("MTA"), a Delaware private limited liability company specializing in the healthcare marketplace; and certain directors and officers of InSightec.

The investment is in the form of allotment and purchase of Series A Preferred convertible shares of InSightec, which are convertible to InSightec's ordinary shares subject to the fulfillment of certain conditions stipulated in the agreement. EUN's share in this round of investment totals $19,829,643. The investors have been granted certain preferential rights attached to the Series A Preferred Shares of InSightec under the articles of association of InSightec, as amended, and certain additional rights under a securityholders agreement that was executed by and among InSightec and the major investors, as stipulated in the said agreement.

Following the completion of this latest round of investment, the fully diluted ownership of EUN and Elbit Ultrasound Ltd. in InSightec will be approximately 53%.

InSightec reported that the proceeds of the investment would be applied to expand its research and development efforts, for marketing and sales activities, and for general corporate purposes.

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SOURCE Elbit Imaging Ltd.
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