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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Commissioner’s Approval for the Lien of Tamar’s Lease Rights

Tel Aviv, July 22, 2012. The Oil Commissioner approved the lien of the rights in the “Tamar” project in favor of Credit Agricole Corporate and Investment Bank, which will serve as a trustee for the appointed banks, backing the partnerships for the non-recourse loan agreement that were signed between each of the SPC limited partnerships’ subsidiaries and a consortium of banks led by HSBC Bank Plc and Barclays Bank Plc on April 21, 2012, for the amount of $400 million each, and in favor of Tamar royalties’ holders: Delek Group, Delek Energy Systems and Cohen Development, amongst others, to secure the obligations of the partners with respect to royalties. The approval is in accordance with the additional requirements as previously requested by the Commissioner.

For more information please see the immediate reports as published on TASE.

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