Elbit Imaging Receives Acceleration Notice from Bank Hapoalim

Elbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ: EMITF) announced today, that on June 5, 2013 it has received a letter from Bank Hapoalim B.M. (the "Bank"), demanding repayment within seven days of the outstanding balance of approximately $58.15 million (approximately NIS 213.47 million) due primarily under the loans made by the Bank to the Company (the "Loans"), without prejudicing its right under any other loan facility to which the Company is a party as a guarantor or otherwise. The Bank stated that it was taking this action in light of the Company's alleged breaches under the Loans, including, inter alia, non-payment to the Bank on March 31, 2013 of approximately $14.5 million, failure to satisfy certain financial covenants under the Loans, adverse change in the financial status of the Company etc. In addition, the Bank has stated that it had offset a deposit in the amount of approximately $7.9 million in the Bank's accounts against the Loans. The Bank has also notified the Company that should such repayment will not be made within seven days, the Bank will be entitled to take all actions necessary in order to protect its rights See full press release