Weekly Review: : 18-22 December 2011 TASE trading in the third week of December ended lower for all leading share price indices.

• The TA-25 index lost 0.2% over the week and is 17.7% lower than its beginning-of-the-year level, following a 16% increase in 2010.

• The TA-100 index, which retreated 0.6% over the week, is 19.8% lower than at the beginning of the year, following a 15% increase in 2010.

• The TA BlueTech-50 index decreased 1.9%, while the TA Banks and Real Estate-15 lost 1.5% and 1.0% respectively.

• Real estate company, Gazit Globe, a constituent of the TA-25 index, raised US $93 million equity in a public offering in the U.S. Its shares have started trade on the NYSE under the ticker symbol GZT.

• Figures released by Israel's Central Bureau of Statistics indicate that the COL index fell 0.1% in November. Since the beginning of the year, the index increased by 2.2% after increasing 2.7% in 2010.

• According to figures released by the Bank of Israel, the Composite State-of-the-Economy index increased by 0.2% in November. Data from the past two months indicate a continuation of economic expansion, however at a slower pace than in the third quarter.

• The Government of Israel floated government bonds on the local market equaling US $700 million. Since the beginning of the year, the government has raised US $17.9 billion in government bond issues, as opposed to US $15.2 billion in the 2010 calendar year.

• The NIS/dollar exchange rate on 22 December came to 3.784, a weekly decrease of 0.2% against the shekel, which brings the year-to-date appreciation of the dollar to 6.6%, after depreciating 6% in 2010.

• The NIS/Euro exchange rate on 22 December came to 4.941, did not change over the week. The Euro has appreciated 4.3% against the NIS since the beginning of the year, after depreciating 12.9% in 2010.