Elbit Imaging Ltd. Announces the Early Termination of its Debentures Repurchase Financing Transactions

     Elbit Imaging Ltd. Announces the Early Termination of its Debentures
                      Repurchase Financing Transactions

PR Newswire

TEL AVIV, Israel, February 10, 2013

TEL AVIV, Israel, February 10, 2013 /PRNewswire/ --

Elbit Imaging Ltd. ("EI"or the"Company") (TASE, NASDAQ: EMITF) announced
today that the financial institutions that had acquired Elbit's Series A to G
Debentures ("Debentures") under the structured debenture transactions with
Elbit Imaging Financing Services, Limited Partnership ("Elbit Financing") that
were announced on August 2, 2012 and November 8, 2012 (the "Transactions"),
have notified Elbit Financing of the early termination of the Transactions as
a result of the decline in the market price of the Debentures and
consequentially, the failure to meet the loan-to-value covenants in the

The financial institutions were not obligated to hold the Debentures purchased
under the Transactions, but only the have such Debentures delivered to Elbit
Financing at the scheduled termination date upon the redemption of the
respective credit-linked notes. Under the terms of the Transactions, upon the
early termination of the Transactions as a result of a decline in the market
price of the Debentures, the financial institutions may sell the Debentures
held by each of them as of the date of termination, and use the proceeds of
the sales to redeem the respective credit-linked notes, either execute a cash
settlement or physical settlement thereof and deliver Elbit Financing the
proceeds of the sale of the Debentures or the remainder of the Debentures not
sold, in excess of the early termination amounts, which shall be retained by
the financial institutions. The early termination amounts consist of the
principal and interest (agreed upon IRR) under the respective credit-linked
notes and unwind costs which are due to the financial institutions under the
Transactions. The Company expects that the sale of Debentures held by the
financial institutions will cover the termination amounts. The amounts of cash
or Debentures to be returned to Elbit Financing will depend on the prices at
which the Debentures are sold by the financial institutions.

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, primarily through its subsidiary Plaza Centers N.V. In certain
circumstances and depending on market conditions, we operate and manage
commercial and entertainment centers prior to their sale; (ii) U.S. Real
Property - Investment in commercial real property in the United States; (iii)
Hotels - Hotel operation and management; (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) Residential Projects -
Initiation, construction and sale of residential projects and other mixed-use
real property projects, predominately residential, located primarily in India;
(vi) Fashion Apparel - Distribution and marketing of fashion apparel and
accessories in Israel; and (vii) Other Activity - venture capital investments.

Any forward-looking statements in our releasesinclude statements regarding
the intent, belief or currentexpectations of Elbit Imaging Ltd. and our
management about our business, financial condition, results of operations, and
its relationship with its employees and the condition of our properties. Words
such as"believe," "expect," "intend," "estimate" and similar expressionsare
intended to identify forward-looking statements but are not the exclusive
means of identifying such statements. Actual results may differ materially
from those projected, expressed or implied in the forward-looking statements
as a result of various factors including, without limitation, the factors set
forth in our filings with the Securities and Exchange Commission including,
without limitation, Item 3.D of our annual report on Form 20-F for the fiscal
year ended December 31, 2011, under the caption "Risk Factors." Any
forward-looking statements contained in our releases speak only as of the date
of such release, and we cautionexisting and prospectiveinvestors not to
place undue reliance on such statements. Such forward-looking statements do
not purport to be predictions of future events or circumstances, and
therefore, there can be no assurance that any forward-looking statement
contained our releases will prove to be accurate. We undertake no obligation
to update or revise any forward-looking statements.

For Further Information:
Company Contact:
Shimon Yitzhaki
Chairman of the Board of Directors
Tel: +972-3-608-6048

Investor Contact:
Mor Dagan
Investor Relations
Tel: +972-3-516-7620

SOURCE Elbit Imaging Ltd.
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