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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

. Shimon Yitzhaki, President of the Company, said, "Following InSightec's receipt of the European CE approval for pain palliation of bone metastases based on clinical results demonstrating that this technology has the potential to become an important treatment alternative for this patient population, and the receipt of the FDA IDE approval for starting a phase III clinical trial in the US for the treatment of bone metastases, InSightec has decided to increase and accelerate its R&D efforts towards the simultaneous development of the InSightec's technologies which are necessary for the expansion into new oncology areas such as: bone metastases, prostate cancer, breast cancer, liver tumors and brain tumors, in order to receive FDA approvals for those applications and treatments within a shorter period. Meeting this task shall enable InSightec to speed up the bringing of its products into the market for the benefit of the potential patients and the cancer defeat straggle."

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.

About InSightec

InSightec Ltd. is a privately held company owned by EI's wholly owned subsidiaries EUN and Elbit Ultrasound L
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SOURCE Elbit Imaging Ltd.
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