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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Update With Regards to Extension of Public Tender for the Supply of Natural Gas to Cyprus

Tel Aviv, Tuesday August 12, 2014. Further to the proposal submitted for the supply of natural gas through pipelines from the Leviathan project (the "bid") within a framework that was published by the Government of Cyprus through a Governmental gas company DEFA, Delek Group’s gas subsidiaries announced today that they have accepted the request from DEFA to postpone the period of validity of the proposal and acceptance in its terms of a binding agreement for the supply of natural gas, from August 15, 2014 to November 30, 2014.

Accordingly, after the proposal has been recognized as eligible and DEFA begins with the commercial examination process, negotiations are expected to take place between DEFA and the bidders in the near future.

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

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