

| MIZRAHI TEFAHOT BANK LTD | 25/06/2009 AGM | |
|---|---|---|
| None | PIRC was not able to secure sufficient information from the company to enable us to deliver an informed report. PIRC’s Global/Asia service defines reportable companies as those which provide adequate and timely English language disclosure of materials which explain the meeting agenda. PIRC has made best efforts to obtain such disclosures for this meeting but has been unable to do so. Unless sufficient information becomes available subsequent to the issuance of these recommendations, PIRC advises clients not to support the proposals. | None |
| 1 | Discuss the financial statements and Directors report | Non-Voting |
| 2.1 | Re-elect Jacob Perry | Abstain |
| 2.2 | Re-elect Moshe Wertheim | Abstain |
| 2.3 | Re-elect Zvi Efrat | Abstain |
| 2.4 | Re-elect Ron Gazit | Abstain |
| 2.5 | Re-elect Yosef Bahat | Abstain |
| 2.6 | Re-elect Liora Ofer | Abstain |
| 2.7 | Re-elect Joseph Rosen | Abstain |
| 2.8 | Re-elect Avraham Shohat | Abstain |
| 2.9 | Re-elect Dov Mishor | Abstain |
| 2.10 | Re-elect Mordechai Mayer | Abstain |
| 3 | Elect Gideon Sitterman | Abstain |
| 4 | Appoint the auditors | Abstain |