Phoenix

Held 55% indirectly by Delek Group Chairman: Dr. Ehud Shapira CEO: Yali Sheffi Phoenix Holdings Ltd., integrates the operations of Phoenix Insurance Company Ltd. - one of Israel's leading Insurance companies that provides Non-Life, Health Insurance and Long-Term Savings, as well as the Phoenix Investments and Finance Ltd. - which manages its members' funds, Phoenix Insurance's nostro portfolio, and holds joint control of Excellence Nessuah Investment House. Phoenix Holdings oversees more than NIS 63 billion of assets (including Excellence) and is one of Israel's largest financial groups. The Company benefits from stability due to its diversified holdings structure and from its intelligent management of capital.