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16 September 2008
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Translation of Immediate Report filed by the Bank with the Israel Securities Authority and Tel-Aviv Stock Exchange on 16th September, 2008
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Subsequent to recent reports regarding the status of the investment banking group, Lehman Brothers (“Lehman”), we hereby inform that Israel Discount Bank (“the Bank”), together with its subsidiary, IDBNY, hold medium-term bonds (senior debt) aggregating to some US$57 million.
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Furthermore, as part of its normal course of business, the bank has entered into forward contracts with Lehman which are accounted for on a daily basis. As of the time of this report, the Bank’s exposure to Lehman relating to these contracts is nominal.
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The Discount Group does not hold any derivatives of Lehman (CDS or other), nor does the Bank hold any structured products of Lehman.
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The Bank is evaluating its exposure to Lehman in light of the fact that the Bank currently holds liquid assets of Lehman in an amount exceeding the above-stated amount.
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About Israel Discount Bank
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Israel Discount Bank is the third largest bank and a leading financial group in Israel. With nationwide coverage, and a strong and growing domestic franchise, Israel Discount Bank provides a full spectrum of corporate and retail financial products and services to its clients, both in Israel and key financial centers around the world. Israel Discount Bank is a member of and is traded on the Tel-Aviv Stock Exchange under the ticker DSCT. For additional information, please visit the Company’s investor relations website at www.discountbank.co.il/IR
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Investor Relations Contact
Barry Simon
Investor Relations
Tel: +972 3 5146593
barry.simon@discountbank.co.il
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