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Elbit Imaging Ltd. Announces Second Quarter Results for 2011
Date:8/31/2011

NIS 10 million reported in the corresponded period in 2010. These expenses are attributable mainly to impairment of Plaza Centers N.V. trading property and to initiation expenses attributable to our operations in India and in the USA.

Income before taxes in Q2 2011 amounted to NIS 13 million (US$ 4 million) compared to NIS 305 million reported in the corresponded period in 2010.

Income in Q2 2011 amounted to NIS 14 million (US $4 million) out of which loss in the amount of NIS 30 million (US$ 9 million) is attributable to our equity holders and income in the amount of NIS 44 million (US$ 13 million) is attributable to the non-controlling interest.

Our shareholders' equity as of June 30, 2011 amounted to NIS 2.13 billion (US$ 624 million) compared to NIS 2.17 billion in December 31, 2010.

Our presentation to the consolidated financial statements for the second quarter of 2011 is available through our website at: http://www.elbitimaging.comunder: "Investor Relations - Company Presentations (06/2011)."

About Elbit Imaging Ltd.

Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial and Entertainment Centers - Initiation, construction and sale of shopping and entertainment centers and other mixed-use real property projects, predominantly in the retail sector, located in Central and Eastern Europe and in India; (ii) U.S. Real Property - Investment in commercial real property in the United States; (iii) Hotels - Hotel operation and management, primarily in major European cities; (iv) Medical Industries - (a) research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment and (b) development of stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine; (v) Residentia
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