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Scope issues to Migdal Group 7%

13/03/06

From: Globes, 13 March 2006

One month after completing a deal with Ishay Davidi: Scope issues to Migdal Group 7% in return for NIS 30 million.

Scope is issuing a private placement to the Migdal Insurance Co., Hamagen Insurance Co., and New Makefast Pension and Provident Funds management. The placement consists of 545,455 ordinary shares in return for NIS 55 per share – representing a discount of approx. 7% from the market price. The total consideration is NIS 30 million.