Midroog Ltd., an Affiliate of Moody's Investors Services, Rates Potential new Debt of Elbit Imaging

TEL AVIV, Israel, June 10 /PRNewswire-FirstCall/ -- Elbit Imaging Ltd. ("EI") (NASDAQ: EMITF), announced today that Midroog Ltd., an affiliate of Moody's Investors Services, has informed EI that its "A2/Stable" rating, on a local scale, would also apply to new debt instruments in an aggregate principal amount of up to NIS 200 million that EI may issue in the future. EI has made no decision with respect to any future debt offering, and there is no certainty that any such debt offering will be executed.

Any future debt offering, if made, will be made in Israel to residents of Israel only, and any debt instruments that may be offered will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from U.S. registration requirements.

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.

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, filed with the Securities and Exchange Commission on June 30, 2008.

    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.