Oil Refineries Updates on Gadot Biotechnologies Tender Offer

HAIFA, Israel, June 30 /PRNewswire-FirstCall/ -- Oil Refineries Ltd.
(TASE: ORL.TA) (the "Company"), Israel's largest oil refiner, announced that
the tender offer announced May 27, 2009 by the Company and Delek Investment
and Assets Ltd. for the acquisition of the outstanding share capital of Gadot
Biotechnologies has not been completed given that the minimum required
acceptance level was not met. Subsequently, Gadot remains a public company
listed on the Tel Aviv Stock Exchange.
About Oil Refineries Ltd.
Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa,
is Israel's largest oil refinery. ORL operates sophisticated and
state-of-the-art industrial facilities with refining capacity of 9 million
tons of crude oil per year, with a Nelson complexity index of 7.4, providing
a variety of quality products used in industrial operation, transportation,
private consumption, agriculture and infrastructure. The Company is also
active in the area of Aromatics and Polymers through wholly-owned Gadiv
Petrochemical Industries Ltd. and 50% owned Carmel Olefins Ltd. ORL is traded
on the Tel Aviv Stock Exchange under the ticker ORL. For additional
information please visit the Company's website: http://www.orl.co.il
Contacts:

Company Contact:
Rony Solonicof, Chief Economist and Head of Investor Relations
Oil Refineries
Tel: +972-4-878-8320
ContactIREn@orl.co.il

Investor Relations Contact:
Ehud Helft / Fiona Darmon
GK Investor Relations
Tel: +1-646-797-2868 / +972-52-695-4400
info@gkir.com

SOURCE Oil Refineries Ltd

Contacts: Company Contact: Rony Solonicof, Chief Economist and Head of
Investor Relations, Oil Refineries, Tel: +972-4-878-8320,
ContactIREn@orl.co.il; Investor Relations Contact: Ehud Helft / Fiona Darmon,
GK Investor Relations, Tel: +1-646-797-2868 / +972-52-695-4400, info@gkir.com