Elbit Imaging Ltd. Announces Developments in Legal Proceedings

TEL AVIV, Israel, April 7 /PRNewswire-FirstCall/ -- Elbit Imaging Ltd.
(NASDAQ: EMITF) ("EI" or the "Company") Announced Today the Following
Developments in its Legal Proceedings:
Following motions filed by the defendants, the District Court of Tel Aviv
has partially dismissed without prejudice plaintiff's motion to certify a
purported claim as a class action, in the framework of Civil Case #3000/99.
The said claim was filed in September 1999 by a shareholder in Elscint Ltd.
("Elscint") against Elscint, the Company, Elbit Holdings, Elron Electronic
Industries Ltd. and six former directors of Elscint together with an
application to certify the said claim as a class action. The plaintiff
claimed that the Company acted, through Elscint's directors, systemically
with the aim of emptying and diluting Elscint of its business, assets,
capital and value, whilst enriching other companies in the group at the
expense of Elscint and at the expense of the minority shareholders of
Elscint. The plaintiff also alleged that several significant transactions
executed by the Company and Elscint in 1998 were all done whilst oppressing
the minority shareholders of Elscint and in contravention of Section 235 of
the Companies Ordinance.
In addition, further to the Company's announcement on January 25, 2009,
with regards to Civil Case #1318/99, the plaintiffs submitted an appeal,
arguing that the District Court of Haifa erred in dismissing their motion to
certify their claim as a class action. The Company is studying the appeal and
intends to defend the case vigorously.
For additional details in respect of the above mentioned claims, see the
Company's Annual Report on Form 20-F for the fiscal year ended December 31,
2007, under "Item 8. Financial Information - A. Consolidated Statements and
Other Financial Information - Legal Proceedings".
For Further Information:
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, financial
condition and results of operations included in this release are subject to
risks and uncertainties that could cause actual results to differ materially
from those contemplated in such forward looking statements, including, but
not limited to, ability to find suitable locations, receipt of approvals and
permits for zoning and construction, delays in construction, dependency on
partners in the hotels business, competition, risks relating to operations in
Eastern Europe and Asia (including India) and risks relating to our image
guided treatment, economic conditions, as well as certain other risk factors
which are detailed from time to time in EI's filings with the Securities and
Exchange Commission including, without limitation, Annual Report on Form 20-F
for the fiscal year ended December 31, 2007.
For Further Information:

Company Contact:

Shimon Yitzhaki, President
Elbit Imaging Ltd.
+972-3-608-6000
syitzhaki@elbitimaging.com

Dudi Machluf, CFO
Elbit Imaging Ltd.
+972-3-608-6024
dudim@elbitimaging.com

Investor Contact:

Mor Dagan
Investor Relations
Tel: +972-3-516-7620
mor@km-ir.co.il

SOURCE Elbit Imaging Ltd.

For Further Information: Company Contact: Shimon Yitzhaki, President, Elbit
Imaging Ltd., +972-3-608-6000, syitzhaki@elbitimaging.com; Dudi Machluf, CFO,
Elbit Imaging Ltd., +972-3-608-6024, dudim@elbitimaging.com; Investor Contact:
Mor Dagan, Investor Relations, Tel: +972-3-516-7620, mor@km-ir.co.il