Makhteshim Agan Board of Directors Appoints Ami Erel as CEO

Date:11-29-2010

The Makhteshim Agan Group, the world leader in branded off-patent crop protection solutions, reports today that its Board of Directors of Makhteshim Agan approved today the appointment of Ami Erel, President and Chief Executive Officer of Discount Investment Corporation Ltd. (“DIC”) of the IDB Group, as Chairman of Makhteshim Agan. The appointment will be effective as of January 1, 2011.

Mr. Erel will replace Avraham Bigger, Makhteshim Agans Chairman in the last four years, who announced his intention of withdrawing from office at the end of 2010. Ami Erel has served as a director of Makhteshim Again since August 2006, when the IDB Group become the controlling shareholder of the Company.

Ami Erel has served as President and CEO of DIC of the IDB Group since June 2001. In recent years he has also served as Chairman of the Board in: Cellcom, Koor Industries and Netvision; and currently serves as a director in Makhteshim Agan, Shufersal, Nechasim uBinyan and Elron of the IDB Group.