Real Estate Fund - Tamir Fishman Israel

International investment targets

The Tamir Fishman Eastern Europe Real Estate Fund was established in July 2007.
The Fund raised NIS 238 million in share capital (before leveraging).

The Fund is a partnership of Tamir Fishman, Mike Langer, Amir Leibov, and Leumi & Co., a member of the Bank Leumi Group.

The Fund operates with the object of investing in land and developing the land, initiating and establishing projects for residential purposes, commerce, and recreation in the large cities and central locations in Eastern Europe, including Hungary, Romania, Bulgaria, Poland, the Czech Republic, Croatia, Serbia, and the Ukraine.

Eastern Europe
As is well known, in recent years Eastern Europe is undergoing economic growth. In the various countries which joined or are about to join the European Union, an atmosphere of great opportunities for investments and profits in real estate has been created.

In our opinion, among the factors contributing to the profitability of investments in those countries are the relatively attractive purchase prices, an increasing demand for high-quality real estate from the local population with high income, foreign investors and employees of international corporations who invest large amounts in these countries.

The awakening economic environment, the considerable demand, the shortage of real estate of western standards and the long-term trend of increasing prices lead to fairly high rates of profitability from investments in real estate in Eastern Europe.

The management team – a combination of experts
The partners active in the Fund are: Danny Fishman, Amir Leibov, and Michael Langer.
The team that manages the Fund combines professionals with considerable experience in real estate investments in general, and real estate in Eastern Europe in particular, management of investment funds and significant financial experience, planning transactions and exits.

In addition, the Fund operates through local active partners throughout Eastern Europe, including: contractors, architects, professional consultants, supervisors and banks. The Fund sees the expertise of these partners as giving the Fund a competitive advantage which enables the acquisition of real estate properties with the best possible business potential

The information provided above is an informative review only and is not intended to serve as an offer, recommendation or as soliciting to purchase or invest in any securities. The offer to the public to purchase the shares of Tamir Fishman Real Estate Fund Ltd. will be done only through the Company's Prospectus of May 3, 2007, as published in the site http://www.magna.isa.gov.il/. Every other purchase of participating units in the Fund will only be done subject to every law, and the Fund’s binding agreements. The above review is based on initial and general information, obtained, inter alia, from known reports and various professional publications and does not include al, the relevant information, data and facts on the subjects covered by the review.

Tamir Fishman did not independently examine the reliability of these sources of information, and this does not constitute a full analysis of all the facts relating to the subject of the review, the relevant markets, the Company or the Fund established by it, and should be read together with other available reports and additional data. Data presented in this review is likely to change without prior notice, and Tamir Fishman does not undertake to issue an update as a result of such changes. The aforesaid in this review does not impose any obligation whatsoever on Tamir Fishman, or anyone on its behalf. The review is not a substitute for professional consulting and the reader should not rely on the contents of the above review as testifying to the level of the Fund’s return and the suitability of the investment in it for a specific investor.