UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G/A
(AMENDMENT NO. 2)
(RULE 13D-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b),
(c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
INTERNET GOLD-GOLDEN LINES LTD.
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(Name of Issuer)
ORDINARY SHARES, PAR VALUE NIS 0.01 PER SHARE
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(Title of Class of Securities)
M56595107
-------------------------------------
(CUSIP Number)
DECEMBER 31, 2009
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(Date of Event Which Requires Filing of this Statement)
Check the following box to designate the rule pursuant to which the Schedule is
filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
* AS SOME OF THE SECURITIES BENEFICIALLY OWNED BY THE REPORTING PERSONS ARE
CONVERTIBLE DEBENTURES CURRENTLY CONVERTIBLE INTO 1/50TH OF A SHARE OF
ORDINARY SHARES, PAR VALUE NIS 0.01 PER SHARE, OF THE ISSUER (THE "ORDINARY
SHARES"), THE FIGURES IN THIS STATEMENT ARE SHOWN ON AN AS CONVERTED BASIS.
Page 1 of 12 pages
CUSIP NO. M98939107
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1. Name of Reporting Persons/
I.R.S. Identification Nos. of above persons (entities only).
Clal Finance Ltd.
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3. SEC Use only
--------------------------------------------------------------------------------
4. Place of Organization
Israel
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5. Sole Voting Power
0
Number of -------------------------------------------------------------
Shares 6. Shared Voting Power
Beneficially 49,621 Ordinary Shares*
Owned by -------------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person With: -------------------------------------------------------------
8. Shared Dispositive Power
49,771 Ordinary Shares*
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
49,771 Ordinary Shares*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
0.3%**
--------------------------------------------------------------------------------
12. Type of Reporting Person:
CO
--------------------------------------------------------------------------------
*See Item 4. The 49,771 Ordinary Shares include debentures convertible into 150
Ordinary Shares.
** Based on 18,221,734 Ordinary Shares (18,221,584 Ordinary Shares outstanding
and debentures convertible into 150.1 Ordinary Shares) outstanding as of
February 8, 2010, on an as converted basis (as reported in the Issuer's Form 6-K
filed with the Securities and Exchange Commission (the "SEC") on February 12,
2010).
Page 2 of 12 pages
CUSIP NO. M98939107
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1. Name of Reporting Persons/
I.R.S. Identification Nos. of above persons (entities only).
Clal Insurance Enterprises Holdings Ltd.
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3. SEC Use only
--------------------------------------------------------------------------------
4. Place of Organization
Israel
--------------------------------------------------------------------------------
5. Sole Voting Power
0
Number of -------------------------------------------------------------
Shares 6. Shared Voting Power
Beneficially 1,203,963.4 Ordinary Shares *
Owned by -------------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person With: -------------------------------------------------------------
8. Shared Dispositive Power
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
6.5%**
--------------------------------------------------------------------------------
12. Type of Reporting Person:
CO
--------------------------------------------------------------------------------
*See Item 4. The 1,203,963.4 Ordinary Shares include debentures convertible into
279,933.4 Ordinary Shares and the 1,204,113.5 Ordinary Shares include debentures
convertible into 280,083.5 Ordinary Shares.
** Based on 18,501,667.5 Ordinary Shares (18,221,584 Ordinary Shares outstanding
and debentures convertible into 280,083.5 Ordinary Shares) outstanding as of
February 8, 2010, on an as converted basis (as reported in the Issuer's Form 6-K
filed with the SEC on February 12, 2010).
Page 3 of 12 pages
CUSIP NO. M98939107
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1. Name of Reporting Persons/
I.R.S. Identification Nos. of above persons (entities only).
IDB Development Corporation Ltd.
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3. SEC Use only
--------------------------------------------------------------------------------
4. Place of Organization
Israel
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5. Sole Voting Power
0
Number of -------------------------------------------------------------
Shares 6. Shared Voting Power
Beneficially 1,203,963.4 Ordinary Shares*
Owned by -------------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person With: -------------------------------------------------------------
8. Shared Dispositive Power
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[X]*
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
6.5%**
--------------------------------------------------------------------------------
12. Type of Reporting Person:
CO
--------------------------------------------------------------------------------
*See Item 4. The 1,203,963.4 Ordinary Shares include debentures convertible into
279,933.4 Ordinary Shares and the 1,204,113.5 Ordinary Shares include debentures
convertible into 280,083.5 Ordinary Shares. Rows 6,8 and 9 exclude 2,272.9
Ordinary Shares (including debentures convertible into 252.9 Ordinary Shares),
all of which are held for members of the public through, among others, provident
funds and mutual funds, which are managed by companies controlled by Epsilon
Investment House Ltd., an indirect subsidiary of IDB Development Corporation
Ltd. (the "Epsilon Shares").
** Based on 18,501,667.5 Ordinary Shares (18,221,584 Ordinary Shares outstanding
and debentures convertible into 280,083.5 Ordinary Shares) outstanding as of
February 8, 2010, on an as converted basis (as reported in the Issuer's Form 6-K
filed with the SEC on February 12, 2010).
Page 4 of 12 pages
CUSIP NO. M98939107
--------------------------------------------------------------------------------
1. Name of Reporting Persons/
I.R.S. Identification Nos. of above persons (entities only).
IDB Holding Corporation Ltd.
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3. SEC Use only
--------------------------------------------------------------------------------
4. Place of Organization
Israel
--------------------------------------------------------------------------------
5. Sole Voting Power
0
Number of -------------------------------------------------------------
Shares 6. Shared Voting Power
Beneficially 1,203,963.4 Ordinary Shares*
Owned by -------------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person With: -------------------------------------------------------------
8. Shared Dispositive Power
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[X]*
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
6.5%**
--------------------------------------------------------------------------------
12. Type of Reporting Person :
CO
--------------------------------------------------------------------------------
*See Item 4. The 1,203,963.4 Ordinary Shares include debentures convertible into
279,933.4 Ordinary Shares and the 1,204,113.5 Ordinary Shares include debentures
convertible into 280,083.5 Ordinary Shares. Rows 6,8 and 9 exclude the Epsilon
Shares.
** Based on 18,501,667.5 Ordinary Shares (18,221,584 Ordinary Shares outstanding
and debentures convertible into 280,083.5 Ordinary Shares) outstanding as of
February 8, 2010, on an as converted basis (as reported in the Issuer's Form 6-K
filed with the SEC on February 12, 2010).
Page 5 of 12 pages
CUSIP NO. M98939107
--------------------------------------------------------------------------------
1. Name of Reporting Persons/
I.R.S. Identification Nos. of above persons (entities only).
Nochi Dankner
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3. SEC Use only
--------------------------------------------------------------------------------
4. Place of Organization
Israel
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5. Sole Voting Power
0
Number of -------------------------------------------------------------
Shares 6. Shared Voting Power
Beneficially 1,203,963.4 Ordinary Shares*
Owned by -------------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person With: -------------------------------------------------------------
8. Shared Dispositive Power
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[X]*
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
6.5%**
--------------------------------------------------------------------------------
12. Type of Reporting Person :
IN
--------------------------------------------------------------------------------
*See Item 4. The 1,203,963.4 Ordinary Shares include debentures convertible into
279,933.4 Ordinary Shares and the 1,204,113.5 Ordinary Shares include debentures
convertible into 280,083.5 Ordinary Shares. Rows 6,8 and 9 exclude the Epsilon
Shares.
** Based on 18,501,667.5 Ordinary Shares (18,221,584 Ordinary Shares outstanding
and debentures convertible into 280,083.5 Ordinary Shares) outstanding as of
February 8, 2010, on an as converted basis (as reported in the Issuer's Form 6-K
filed with the SEC on February 12, 2010).
Page 6 of 12 pages
CUSIP NO. M98939107
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1. Name of Reporting Persons/
I.R.S. Identification Nos. of above persons (entities only).
Shelly Bergman
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3. SEC Use only
--------------------------------------------------------------------------------
4. Place of Organization
Israel
--------------------------------------------------------------------------------
5. Sole Voting Power
0
Number of -------------------------------------------------------------
Shares 6. Shared Voting Power
Beneficially 1,203,963.4 Ordinary Shares*
Owned by -------------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person With: -------------------------------------------------------------
8. Shared Dispositive Power
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[X]*
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
6.5%**
--------------------------------------------------------------------------------
12. Type of Reporting Person :
IN
--------------------------------------------------------------------------------
*See Item 4. The 1,203,963.4 Ordinary Shares include debentures convertible into
279,933.4 Ordinary Shares and the 1,204,113.5 Ordinary Shares include debentures
convertible into 280,083.5 Ordinary Shares. Rows 6,8 and 9 exclude the Epsilon
Shares.
** Based on 18,501,667.5 Ordinary Shares (18,221,584 Ordinary Shares outstanding
and debentures convertible into 280,083.5 Ordinary Shares) outstanding as of
February 8, 2010, on an as converted basis (as reported in the Issuer's Form 6-K
filed with the SEC on February 12, 2010).
Page 7 of 12 pages
CUSIP NO. M98939107
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1. Name of Reporting Persons/
I.R.S. Identification Nos. of above persons (entities only).
Ruth Manor
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3. SEC Use only
--------------------------------------------------------------------------------
4. Place of Organization
Israel
--------------------------------------------------------------------------------
5. Sole Voting Power
0
Number of -------------------------------------------------------------
Shares 6. Shared Voting Power
Beneficially 1,211,200.9 Ordinary Shares*
Owned by -------------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person With: -------------------------------------------------------------
8. Shared Dispositive Power
1,211,351 Ordinary Shares*
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,211,351 Ordinary Shares*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[X]*
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
6.5%**
--------------------------------------------------------------------------------
12. Type of Reporting Person :
IN
--------------------------------------------------------------------------------
*See Item 4. The 1,211,200.9 Ordinary Shares include debentures convertible into
279,933.4 Ordinary Shares and the 1,211,351 Ordinary Shares include debentures
convertible into 280,083.5 Ordinary Shares. Rows 6,8 and 9 include debentures
held by the spouse of Ms. Manor convertible into 7,237.5 Ordinary Shares and
exclude the Epsilon Shares.
** Based on 18,508,905 Ordinary Shares (18,221,584 Ordinary Shares outstanding
and debentures convertible into 287,321 Ordinary Shares) outstanding as of
February 8, 2010, on an as converted basis (as reported in the Issuer's Form 6-K
filed with the SEC on February 12, 2010).
Page 8 of 12 pages
CUSIP NO. M98939107
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1. Name of Reporting Persons/
I.R.S. Identification Nos. of above persons (entities only).
Avraham Livnat
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3. SEC Use only
--------------------------------------------------------------------------------
4. Place of Organization
Israel
--------------------------------------------------------------------------------
5. Sole Voting Power
0
Number of -------------------------------------------------------------
Shares 6. Shared Voting Power
Beneficially 1,203,963.4 Ordinary Shares*
Owned by -------------------------------------------------------------
Each 7. Sole Dispositive Power
Reporting 0
Person With: -------------------------------------------------------------
8. Shared Dispositive Power
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,204,113.5 Ordinary Shares*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[X]*
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
6.5%**
--------------------------------------------------------------------------------
12. Type of Reporting Person :
IN
--------------------------------------------------------------------------------
*See Item 4. The 1,203,963.4 Ordinary Shares include debentures convertible into
279,933.4 Ordinary Shares and the 1,204,113.5 Ordinary Shares include debentures
convertible into 280,083.5 Ordinary Shares. Rows 6,8 and 9 exclude the Epsilon
Shares.
** Based on 18,501,667.5 Ordinary Shares (18,221,584 Ordinary Shares outstanding
and debentures convertible into 280,083.5 Ordinary Shares) outstanding as of
February 8, 2010, on an as converted basis (as reported in the Issuer's Form 6-K
filed with the SEC on February 12, 2010).
Page 9 of 12 pages
ITEM 1.
(a) Name of Issuer:
INTERNET GOLD-GOLDEN LINES LTD. (hereinafter referred to as the
"Issuer").
(b) Address of Issuer's Principal Executive Offices:
1 Alexander Yanai Street, Petach Tikva 49277, Israel
ITEM 2.
(a) Name of Person Filing:
This Statement is filed by:
(1) Clal Finance Ltd.
(2) Clal Insurance Enterprises Holdings Ltd.
(3) IDB Development Corporation Ltd.
(4) IDB Holding Corporation Ltd.
(5) Mr. Nochi Dankner
(6) Mrs. Shelly Bergman
(7) Mrs. Ruth Manor and
(8) Mr. Avraham Livnat
The foregoing entities and individuals are collectively referred to as the
"Reporting Persons" in this Statement.
(1) Clal Finance Ltd., an Israeli public corporation ("Clal Finance"),
is a majority owned subsidiary of Clal Insurance Enterprises Holdings Ltd.,
an Israeli public corporation ("Clal"). Clal may be deemed to beneficially
own an aggregate of 1,204,113.5 Ordinary Shares (the "Issuer Shares"). See
Item 4.
(2) Clal is a majority owned subsidiary of IDB Development Corporation
Ltd., an Israeli public corporation ("IDB Development"). By reason of IDB
Development's control of Clal, IDB Development may be deemed to be the
beneficial owner of, and to share the power to vote and dispose of, the
Issuer Shares owned beneficially by Clal. See Item 4.
(3) IDB Development is a majority owned subsidiary of IDB Holding
Corporation Ltd., an Israeli public corporation ("IDB Holding"). By reason
of IDB Holding's control (through IDB Development) of Clal, IDB Holding may
be deemed beneficial owner of, and to share the power to vote and dispose
of, the Issuer Shares owned beneficially by Clal. See Item 4.
(4) Mr. Nochi Dankner, Mrs. Shelly Bergman, Mrs. Ruth Manor and Mr.
Avraham Livnat may, by reason of their interests in, and relationships
among them with respect to, IDB Holding, be deemed to control the
corporations referred to in paragraphs (1) - (3) above. By reason of the
control of IDB Holding by Nochi Dankner, Shelly Bergman, Ruth Manor and
Avraham Livnat, and the relations among them, Nochi Dankner, Shelly
Bergman, Ruth Manor and Avraham Livnat may each be deemed beneficial owner
of, and to share the power to vote and dispose of, the Issuer Shares owned
beneficially by Clal. See Item 4.
(b) Address of Principal Business Offices or, if none, Residence:
Clal Finance Ltd. - 37 Menachem Begin Street, Tel-Aviv 65220, Israel
Clal Insurance Enterprises Holdings Ltd. - 48 Menachem Begin Street, Tel-Aviv
66180, Israel
IDB Development Corporation Ltd. - The Triangular Tower, 44th floor, 3 Azrieli
Center, Tel Aviv 67023, Israel
IDB Holding Corporation Ltd. - The Triangular Tower, 44th floor, 3 Azrieli
Center, Tel Aviv 67023, Israel.
Mr. Nochi Dankner - The Triangular Tower, 44th floor, 3 Azrieli Center, Tel Aviv
67023, Israel.
Mrs. Shelly Bergman - 9 Hamishmar Ha'Ezrachi Street, Afeka, Tel Aviv 69697,
Israel.
Page 10 of 12 pages
Mrs. Ruth Manor - 26 Hagderot Street, Savyon 56526, Israel.
Mr. Avraham Livnat - Taavura Junction, Ramle 72102, Israel.
(c) Citizenship:
Citizenship or place of organization of all Reporting Persons, as the case
may be, is Israel.
(d) Title of Class of Securities:
Ordinary Shares, par value NIS 0.01 per share (the "Ordinary Shares").
(e) CUSIP Number:
M98939107
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B) OR
240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
Not applicable.
ITEM 4. OWNERSHIP
None of the 49,771.06 Ordinary Shares reported in this Statement as
beneficially owned by Clal Finance are held for its own account. Consequently,
this Statement shall not be construed as an admission by Clal Finance that it is
the beneficial owner of any of the Ordinary Shares covered by this Statement.
Of the 1,204,113.5086 Ordinary Shares reported in this Statement as
beneficially owned by Clal (i) 1,087,847.8596 Ordinary Shares are held for
members of the public through, among others, provident funds and/or mutual funds
and/or pension funds and/or index-linked securities and/or insurance policies,
which are managed by subsidiaries of Clal, each of which subsidiaries operates
under independent management and makes independent voting and investment
decisions, (ii) 150 Ordinary Shares are held by third-party client accounts
managed by Clal Finance`s wholly owned subsidiary, Clal Finance Batucha
Investment Management Ltd., as portfolio managers, which operates under
independent management and makes investment decisions independent of Clal and
Clal Finance and has no voting power in the securities held in such client
accounts, and (iii) 116,115.649 are beneficially held for its own account.
Consequently, this Statement shall not be construed as an admission by (i) Clal,
that it is the beneficial owner of more than 116,115.649 Ordinary Shares covered
by this Statement; and (ii) the Reporting Persons (other than Clal) that they
are the beneficial owners of any Ordinary Shares covered by this Statement.
Except as set forth above, see items 5-11 of the cover pages hereto for
beneficial ownership, percentage of class and dispositive power of the Reporting
Persons, which are incorporated herein.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than 5 percent of the class of securities, check the following [_].
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
ITEM 10. CERTIFICATIONS
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose
or effect.
Page 11 of 12 pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 16, 2010
CLAL FINANCE LTD.
CLAL INSURANCE ENTERPRISES HOLDINGS LTD.
IDB DEVELOPMENT CORPORATION LTD.
IDB HOLDING CORPORATION LTD.
NOCHI DANKNER
SHELLY BERGMAN
RUTH MANOR
AVRAHAM LIVNAT
By: CLAL INSURANCE ENTERPRISES HOLDINGS LTD.
By: /s/ Uri Levy /s/ Omer Ben Pazi
-------------------------------------
Uri Levy and Omer Ben Pazi, authorized signatories of CLAL
INSURANCE ENTERPRISES HOLDINGS LTD., for itself and on
behalf of Clal Finance Ltd., IDB Development Corporation
Ltd., IDB Holding Corporation Ltd., Nochi Dankner, Shelly
Bergman, Ruth Manor and Avraham Livnat, pursuant to
an agreement annexed as Exhibit 1 to the Schedule 13G filed
on February 28, 2008.
Page 12 of 12 pages