The Management Board of Globe Trade Centre S.A. (“Company”) hereby informs that on 23 April 2012 it received from GTC Real Estate Holding B.V. a notification, in accordance with articles 7.1.1, 7.1.2 and 7.1.3 of the Articles of Association of Globe Trade Centre, on re-appointment of Yosef Grunfeld as member of the Supervisory Board of the Company for a new term starting 16 April 2012.

Yosef Grunfeld has secondry education. He is one of the three shareholders, who together, control Kardan N.V., which indirectly, through its wholly owned subsidiary, GTC Real Estate Holding B.V. is dominant to the Company. During his professional carrier Yosef Grunfeld was active in many ventures as owner and member of supervisory/management boards of the companies. Since 1990 he has been a member of the supervisory board of Kardan Israel Ltd., since 1993 he is a member of the management board of Kardan Real Estate Enterprise and Development Ltd. and Universal Motors Israel Ltd. In 2011 Yosef Grunfeld was appointed to the Supervisory Board of Kardan Yazamut Ltd. Additionally, he is a member of management and supervisory boards of other companies.

Yosef Grunfeld is not entered into the Register of Insolvent Debtors maintained on the basis of the National Court Register Act and does not conduct any activities outside the Company’s enterprise which would be competitive with respect to the Company’s business, is not a partner in any competing civil law or commercial law partnership or a member of governing bodies of any corporation or any other legal entity which would be competitive with respect to the Company’s business.

Legal grounds: Legal grounds: §5 sec. 1 point 22 of the Regulation of the Council of Ministers of 19 February 2009 concerning the submission of current periodical information by the securities' issuers and the conditions of recognizing as equal the information demanded by the national lawful regulation of a country which does not hold the membership in European Union.