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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Gas Subsidiaries’ Participation in Tender for Oil Exploration and Productions Rights in Cyprus

On May 11, 2012, Delek Group Gas Subsidiaries submitted a proposal to participate in the Government of Cyprus tender, to acquire rights of exploration and production of oil and / or natural gas in the Economic water area of Cyprus. The proposal was submitted as part of a consortium comprising Avner Oil Exploration LP (12.5%), Delek Drilling LP (12.5%) and the following companies: Enel Trade S.p.A. (15%), Edison International S.p.A. (30%) and Woodside Energy Holdings Pty Ltd. (30%). Tender results are not expected to be published before the fourth quarter of 2012.

For more information please see the immediate reports as published on TASE. http://maya.tase.co.il/bursa/indeximptoday.htm

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