Israel Corporation and Israel Petrochemical Enterprises Ltd. (IPE) have signed a joint control agreement in ORL between Israel Corp., IPE and Petroleum Capital Holdings (fully owned by IPE) along with an addendum to the Control Agreement in the Company. Also, the Israel Companies Authority notified the Company today that the Israeli Prime Minister and Minister of Finance, under the approval of the Minister for National Infrastructures, signed, on June 4, 2009, a Control Permit to the Israel Corp.'s, and its shareholders', correcting the Control Permit granted to the Israel Corp. in June 2007. Furthermore, the Israel Corp. published, in its June 7, 2009 announcement, details with regard to the said correction to the Control Permit.
According to the Israel Companies Authority notice, under the terms of the Control Permit granted to the Israel Corp., the Israel Corp. is permitted to hold 24% or more of the Company's control means, solely, or together with IPE and Petroleum, under the conditions of the joint control agreement. IPE's representative notified the Israeli Companies Authority that all the conditions outlined in the Control Permit granted to IPE and Petroleum on May 6, 2009 were fulfilled by June 5, 2009.
The Israel Companies Authority notice further states, that IPE, Petroleum and the controlling holders in these companies are therefore eligible to control ORL and hold 24% or more of the Company's control means, together with the Israel Corp., under the terms set forth in the joint control agreement.
12-Jun-09 
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