Elbit Imaging Announces Court Decision

Elbit Imaging Ltd. ("EI" or the "Company")

announced today, further to the Company's announcement dated May 9, 2013 that it had filed a motion with the Tel Aviv District Court (the "Court") to convene meetings of its unsecured creditors and shareholders for the approval of the proposed restructuring of the Company's unsecured financial debt pursuant to a plan of arrangement (the "Arrangement") under Section 350 of the Israeli Companies Law, 5759-1999 ("Section 350"), that the Court decided, after taking into account the positions of the Company, the representatives of various series of the Company's noteholders and other interested parties and the provisions of Section 350, not to convene the meetings until the Court receives the written opinion of Roni Alroy, CPA, the Court-appointed expert (the "Expert"), as to the Arrangement. The Court also ordered that the Expert should endeavor to provide his opinion, if possible, by June 6, 2013. In addition, the Court ordered that any party that wishes to oppose the Arrangement should file its position as to the Arrangement by May 31, 2013, and that the Company and all other parties to the Arrangement should file their responses