Elbit Imaging Ltd. Announces its Subsidiaries Signing a Transaction for the Sale of the Cina Property in Bucharest

TEL AVIV, Israel, December 15, 2015

Elbit Imaging Ltd. (the "Company") (TASE, NASDAQ: EMITF) announced today, that its 98% holding subsidiary, S.C. Bucuresti Turism S.A. ("BUTU") and its indirect subsidiary, Plaza Centers N.V. ("Plaza") (LSE:PLAZ), have signed a transaction for the sale of the Cina property in Bucharest.

The expected total consideration is €4 million, divided to €2.7 million for Plaza and €1.3 million for BUTU. The expected net proceeds, after related taxes and transaction costs, is approximately €2.26 million for Plaza and approximately €1.3 million for BUTU.

About Elbit Imaging Ltd. 

Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial centers - initiation, construction, and sale of commercial centers and other mixed-use property projects, predominantly in the retail sector, located in Central and Eastern Europe. In certain circumstances and depending on market conditions, the Group operates and manages commercial centers prior to their sale. (ii)  Hotels - hotels operation and management. (iii) Medical industries and devices - (a) research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment, and (b) development of stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine. (iv) Residential projects - initiation, construction and sale of residential units or plots designated for residential located primarily in India.

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