Gas Subsidiaries Update

The following updates are based on information released by Delek Group gas subsidiaries, Delek Energy Systems Ltd., Avner Oil & Exploration L.P and Delek Drilling L.P. All financial and business information is given only for the convenience of the reader. The only official financial and business information, is that which is included in the officially published immediate reports and financial reports of Delek Group and its gas subsidiaries, to the Israeli Securities Authority and the Tel Aviv Stock Exchange, in Hebrew. In the event of any conflict between financial and business information given on this site and the Hebrew published immediate reports, the Hebrew published immediate reports shall prevail. More on Delek Group's disclaimer.

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Tamar Signs Contract with Paz for approximately $700 million
On April 02, 2012, Take-or-Pay agreement for the supply of natural gas over 15 years was signed by the Tamar Partners with Paz Ashdod Refinery Ltd. to supply up to a total approximate quantity of 3.12 BCM. In the agreement the gas price will be linked to electricity production rate as determined time to time by the Public Utility and Electricity Authority and includes a ''floor rate''. The supply is expected to start in mid-2013. The agreement is subject to a number of closing conditions. For more information please see the immediate reports as published on TASE. http://maya.tase.co.il/bursa/indeximptoday.htm
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