Elbit Imaging Ltd. Announces Notification of Interest in Plaza Centers Shares

TEL AVIV, Israel, August 9, 2010 - Elbit Imaging Ltd. (NASDAQ: EMITF) ("Elbit") announces today that it sold
a total of 15 million ordinary shares of its subsidiary, Plaza Centers N.V.,
(LSE: PLAZ) (WSE: PLAZ/PLAZACNTR) ("Plaza") to a Polish institutional
investor. The sale of such shares was concluded in line with Elbit's
potential future business needs. The gross proceeds to Elbit of such sale are
approximately NIS 98 million (approximately $ 26 million).

Following the transaction, Elbit currently owns approximately 62.39% of
Plaza's share capital.

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 commercial and entertainment centers and other
mixed-use real property projects, predominantly in the retail sector,
located in Central and Eastern Europe and in India. In certain
circumstances and depending on market conditions, Elbit may operate
and manage a commercial and entertainment center prior to its sale;
(ii) Hotels - Hotels operation and management, primarily in major European
cities; (iii) Image Guided Treatment - Investments in the research and
development, production and marketing of magnetic resonance imaging guided
focused ultrasound treatment equipment; (iv) Residential Projects -
Initiation, construction and sale of residential projects and other
mixed-use real property projects, predominately residential, located
primarily in India and in Eastern Europe; (v) Fashion Apparel -
distribution and marketing of fashion apparel and accessories in
Israel; and (vi) Other Activities - (a) venture capital investments; (b)
investments in hospitals and farm and dairy plants in India, which are in
preliminary stages; and (c) wholesale trade of home applications in India.

Any forward-looking statements in our releases include statements
regarding the intent, belief or current expectations of Elbit Imaging Ltd.
and our management about our business, financial condition, results of
operations, and its relationship with its employees and the condition of our
properties. Words such as "believe," "expect," "intend," "estimate" and
similar expressions are intended to identify forward-looking statements but
are not the exclusive means of identifying such statements. Actual results
may differ materially from those projected, expressed or implied in the
forward-looking statements as a result of various factors including,
without limitation, the factors set forth in our filings with the Securities
and Exchange Commission including, without limitation, Item 3.D of our
annual report on Form 20-F for the fiscal year ended December 31, 2009,
under the caption "Risk Factors." In addition, the proposed offering is
subject to risks facing any public offering, including without limitation,
general economic conditions, the conditions of the capital markets, the
interest level of investment banks and investors in the offering and the
performance of our businesses. Any forward-looking statements contained in
our releases speak only as of the date of such release, and we caution
existing and prospective investors not to place undue reliance on such
statements. Such forward-looking statements do not purport to be predictions
of future events or circumstances, and therefore, there can be no
assurance that any forward-looking statement contained our releases will
prove to be accurate. We undertake no obligation to update or revise any
forward-looking statements.

    For Further Information:

    Company Contact:                     Investor Contact:
    Dudi Machluf                         Mor Dagan
    Chief Executive Officer (Co-CEO)     Investor Relations
    Tel: +972-3-608-6024                 Tel: +972-3-516-7620
    dudim@elbitimaging.com               mor@km-ir.co.il

For Further Information: Company Contact: Dudi Machluf, Chief Executive Officer (Co-CEO), Tel: +972-3-608-6024, dudim at elbitimaging.com; Investor Contact: Mor Dagan, Investor Relations, Tel: +972-3-516-7620, mor at km-ir.co.il