Bi-Weekly Review: 20-31 July 2014

Trading on the Tel-Aviv Stock Exchange (TASE) during the last two weeks was ended down for most leading TASE indices. Continued offerings in share and bond markets

TA-25 The TA-25 index decreased 0.6% over the last two weeks, bringing year-to-date increase to 4.7%.

TA-100 The TA-100 index decreased 1.2% over the last two weeks, bringing year-to-date increase to 3.2%.

TA-Com The TA-Com index increased 0.8% over the last two weeks, bringing year-to-date increase to 4.5%.

Share Offerings This last two weeks there were 2 rights issues which raised US $9 million. Since the beginning of the year the business sector raised US $1.6 billion through share offerings, after raising US $1.7 billion for the whole of 2013.

Corporate Bonds Six companies, including four real estate companies, made bond offerings amounting to US $330 million, led by Israel Aircraft Industries which raised US $135 million. Since the beginning of the year the business sector raised US $9.1 billion through bond offerings of which US $3.3 billion on the "TACT Institutional" system, after raising US $10.1 billion for the whole of 2013.

Government Bonds The Ministry of Finance (MoF) made public bond offerings listed on the TASE amounting to US $0.8 billion. Since the beginning of the year the MoF raised US $9.7 billion in bond offerings on the Tel-Aviv Stock Exchange, after raising US $18.2 billion for the whole of 2013.

BOI Interest Rate The Bank of Israel lowered the interest rate, for the second time this year by 0.25% to 0.50%, starting August 2014. This is a historically low level for the interest rate that occurred also in mid-2009.

Composite State-of-the-Economy Index The Bank of Israel released figures indicating that the Composite State-of-the-Economy index increased by 0.1% in June, reflecting moderate growth in the economy similar to that of recent months.

Sector Indices

2 Week YTD 2014

TA Bluetech -3.0% -9.2% TA Banks -0.6% -2.0% TA Real Estate-15 -2.6% -0.5%

Foreign Exchange

2 Week YTD 2014

Dollar/NIS 0.2% -1.2% Euro/NIS -0.9% -4.0%

Facts & Figures The Tel-Aviv Stock Exchange features in June 2014:

485 companies listing equities.

579 Exchange Traded Notes.

33 series of government bonds.

76 Series of Institutional bonds.

596 series of corporate bonds.

2,189 mutual funds.

Market Cap. (US$ billions) o Equities - 218 o Government bonds – 144 o Corporate bonds - 92

About TASE Established in September 1935, the Tel-Aviv Stock Exchange is Israel’s sole securities exchange, offering an increasingly sophisticated range of products to investors, including equity, corporate bonds, treasury bills and notes, index products and derivatives.

International In recent years, TASE has enhanced its international presence, signing Memoranda of Understanding with the London Stock Exchange, NASDAQ, NYSE-Euronext the Shanghai Stock Exchange, and Toronto Stock Exchange.

For more information please contact:

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

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