London Stock Exchange and Tel Aviv Stock Exchange Sign MOU.

LONDON -- The London Stock Exchange and the Tel Aviv Stock Exchange today signed a Memorandum of Understanding to formalise the existing strong ties between the two organisations.

To mark the signing of the Memorandum, the CEO of Tel Aviv Stock Exchange, Ms Ester Levanon, today opened trading at the London Stock. On 21st February the Tel Aviv Stock Exchange opens its annual international investor conference in London, showcasing a number of their largest listed companies.

Under the agreement, the London Stock Exchange and the Tel Aviv Stock Exchange will establish a series of regular meetings between senior executives and agree to exchange information, in order to facilitate orderly trading in the shares of companies admitted to both markets.

Commenting on the agreement, Ester Levanon, Chief Executive of the Tel Aviv Stock Exchange, said:

"The signing of this co-operation agreement with the London Stock Exchange is an important step in the long term development of the Tel Aviv Stock Exchange and the Israeli economy. We look forward to the development of our already fruitful relationship with the London Stock Exchange. We are pleased to be working together, to assist Israeli issuers to support their international goals."

Clara Furse, Chief Executive of the London Stock Exchange, said:

"We are delighted to announce this memorandum with the Tel Aviv Stock Exchange. As the world's leading international equity market we value our links with other exchanges very highly. I look forward to developing our strong relationship with the Tel Aviv Stock Exchange, to the mutual benefit of our companies and our markets."

Tracey Pierce, Head of Global Business Development at the London Stock Exchange, added:

"In the last few years, the London Stock Exchange has become the overseas market of choice for ambitious Israeli companies looking to expand their businesses internationally and we believe that this agreement will bring further benefits to both exchanges and the Israeli companies we look to serve."

A total of 50 companies of Israeli origin are listed on the London Stock Exchange's Main Market and AIM. Of these, 36 have joined in the last two years, and over this period more Israeli companies have listed on the London Stock Exchange then any other exchange outside of Israel.

Notes to editors:

* About the London Stock Exchange:

The London Stock Exchange is the world's premier international equity exchange and a leading provider of services that facilitate the raising of capital and the trading of shares.

The London Stock Exchange is the most international equities exchange in the world and Europe's largest pool of liquidity. By the end of 2006, the market capitalisation of UK and international companies on the London Stock Exchange's markets amounted to [pounds sterling]4.4 trillion, with [pounds sterling]6.7 trillion of equity business transacted over the year.

The London Stock Exchange is a Recognised Investment Exchange (RIE) under the Financial Services and Markets Act 2000 and is supervised by the Financial Services Authority.

* About TEL AVIV STOCK EXCHANGE:

Founded in 1953, The Tel Aviv Stock Exchange operates at the heart of the Israeli economy. Combining the advantages of a sophisticated market with the opportunities of an emerging one, the TASE has a vast range of exciting possibilities to offer the global investment community.

Regulated by the Israel Securities Authority, the TASE provides a highly advanced platform for trading in shares, bonds, treasury bills and derivatives, along with the full range of market services. The TASE also offers clearing and data vending services and the calculation of indices. For more information. visit our web site at www.tase.co.il.