Elbit Imaging Announces Update With Respect to its Proposed Plan of Arrangement

     Elbit Imaging Announces Update With Respect to its Proposed Plan of
                                 Arrangement

PR Newswire

TEL AVIV, Israel, June 20, 2013

TEL AVIV, Israel, June 20, 2013 /PRNewswire/ --

Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced
today, further to the Company's filing on June 19, 2013 with the Tel Aviv
District Court (the "Court") of a petition requesting the Court's permission
to convene meetings of its creditors and shareholders to vote upon the
Company's amended plan of arrangement, that the Court has ordered all relevant
parties that object to convening such meetings to file a brief position
statement with the Court by 10:00 a.m. on June 25, 2013.  The Court
emphasized that any such position statement shall relate only to the question
of whether such meetings ought to be convened on the basis of the Company's
amended plan of arrangement (as opposed to opining on the merits of such
plan).

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, the Company operate and
manage commercial and entertainment centers prior to their sale; (ii) Hotels -
Hotel operation and management; (iii) 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; (iv) Residential Projects -
Initiation, construction and sale of residential projects and other mixed-use
real property projects, predominately residential, located primarily in India;
and (v) Fashion Apparel - Distribution and marketing of fashion apparel and
accessories in Israel.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995

Any forward-looking statements in our releases include statements regarding
the intent, belief or current expectations of Elbit Imaging Ltd. and our
management about our business, financial condition, results of operations, and
our relationship with our employees and the condition of our properties. Words
such as "believe," "would," "expect," "intend," "estimate" and similar
expressions are 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
risk that the Court will not approve the convening of meetings to vote upon
the Arrangement, that the Arrangement will not be approved by all the
applicable stakeholders of the Company, the Court or others, that challenges
by third parties or other events outside the control of the Company could
delay the implementation of the Arrangement and result in its termination,
that Bank Hapoalim will not agree to join the Arrangement on the terms
proposed by the Company or at all, and 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, 2012, under the caption "Risk Factors." Any forward-looking statements
contained in our releases speak only as of the date of such release, and we
caution existing and prospective investors 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 in 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
shimony@elbitimaging.com 

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

SOURCE Elbit Imaging Ltd.
 
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