Elbit Imaging Issues Update on Court Proceedings

lbit Imaging Ltd. ("EI" or the "Company") (TASE, NASDAQ:

) announced today, further to the Company's announcement dated June 9, 2013, that the Tel Aviv District Court today granted the request of the representatives of the holders of the Company's outstanding Series C-G and Series 1 notes (the "Representatives") and extended to June 19, 2013 the deadline for any party that wishes to oppose the convening of meetings of the Company's unsecured creditors and shareholders for the purpose of approving of the proposed restructuring of the Company's unsecured financial debt pursuant to a plan of arrangement submitted by the Company or the alternative proposal submitted by the Representatives. About Elbit Imaging Ltd. Elbit Imaging Ltd. operates in the following principal fields of business: (i) Commercial and Entertainment Centers - Initiation, construction and sale of shopping and entertainment centers and other mixed-use real property projects, predominantly in the retail sector, located in Central and Eastern Europe and in India, primarily through its subsidiary Plaza Centers N.V. In certain circumstances and depending on market conditions, the Company operate and manage commercial and entertainment centers prior to their sale; (ii) Hotels - Hotel operation and management; (iii) Medical