Extension of Tel Aviv Stock Exchange Trading Hours Starting 16 June 2013

TEL AVIV, Israel, May 28, 2013 /PRNewswire/ --

• Hours better aligned with trading hours of foreign markets
• Trading in all securities Mondays through Thursdays until 17:25

In its Thursday, 23 May 2013 meeting, the Tel Aviv Stock Exchange (TASE) Board of Directors approved an extension of TASE trading hours, which will come into effect on 16 June, 2013.

     (Logo: http://photos.prnewswire.com/prnh/20130117/588933 )

On Monday through Thursday, trading hours in equities, derivatives and bonds will be extended to 17:25. The rest of the trading schedule will remain unchanged.

"The extension of trading hours is part of our ongoing efforts to render TASE an attractive and highly accessible venue for foreign investors," said Ester Levanon, TASE CEO, "by aligning TASE trading hours with those of leading European exchanges, and create an hour overlap with trading in New York. We believe it will promote higher trading volume, encourage arbitrage trading by local and foreign investors and improve liquidity."

The revised trading schedule, scheduled to come into effect on 16 June 2013, is summarized in the tables below:

Securities (excluding derivatives)^[1]

1. Monday through Thursday

                                                Bonds, T-Bills
                                                and
                                                Institutional
                    Equities                    Market
                    Group A[2]    Group B[3]
    Pre-opening     09:00         09:00         09:00
    Opening Auction 09:45 - 09:46 10:15         09:30 - 09:31
    Pre-closing     17:14 - 17:15 17:14 - 17:15 17:14 - 17:15
    Closing Auction 17:24 - 17:25 17:24 - 17:25 17:24 - 17:25

B.    Sunday:

                                                Bonds, T-Bills
                                                and
                                                Institutional
                    Equities                    Market
                    Group A       Group B
    Pre-opening     09:00         09:00         09:00
    Opening Auction 09:45 - 09:46 10:15         09:30 - 09:31
    Pre-closing     16:14 - 16:15 16:14 - 16:15 16:14 - 16:15
    Closing Auction 16:24 - 16:25 16:24 - 16:25 16:24 - 16:25

C.    Mid holidays of Passover and Feast of Tabernacles (Sukkoth):

                                                Bonds, T-Bills
                                                and
                                                Institutional
                    Equities                    Market
                    Group A       Group A
    Pre-opening     09:00         09:00         09:00
    Opening Auction 09:45 - 09:46 10:15         09:30 - 09:31
    Pre-closing     14:14 - 14:15 14:14 - 14:15 14:14 - 14:15
    Closing Auction 14:24 - 14:25 14:24 - 14:25 14:24 - 14:25

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1. Wherever a range of time is indicated on the table, the trading phase shall begin at a time set each day randomly, between the earliest and latest time indicated in the range

2. Group A - shares included in the share price Index Universe, ETNs and units in closed-end mutual funds which according to their investment policy endeavor to replicate TASE share price indices.

3. Group B - shares not included in the share price Index Universe, convertible securities, ETNs and units in closed-end mutual funds which according to their investment policy do not necessarily try to replicate TASE indices.

For more information please contact:

Idit Yaaron or Orna Goren, TASE, +972(3)5677-405/6

Visit the Tel Aviv Stock Exchange's Website: http://www.tase.co.il

SOURCE Tel Aviv Stock Exchange Ltd