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Optibase Announces Results Of Special General Meeting

Optibase Ltd. (Nasdaq:OBAS), today announced the results of the Special General Meeting of its shareholders held on Thursday, May 6 2010, in Herzliya, Israel.

At the meeting, proposals number 1 and 2 set forth in Optibase's proxy statement dated March 29, 2010, as amended (the "Proxy Statement") sent in connection with the meeting, were approved by the required majorities.

Proposal 3 set forth in the Proxy Statement did not receive the required majority and thus was not approved.

For further information concerning the proposals, please refer to the Proxy Statement.

About Optibase

Optibase provides video over IP solutions, specializing in video encoding, decoding and streaming for federal and state government agencies, Telco operators, enterprise organizations and the world's leading broadcast service providers. With a collection of open, standards-based products, Optibase enables its customers to take full advantage of video distribution over their IP network, ensuring superb video quality in a scale of bit-rates for simple and effective video streaming to desktops, STBs and VOD applications. Optibase has recently started operating in the fixed-income real-estate sector. On March 16, 2010, Optibase announced that it has entered into an asset purchase agreement with Optibase Technologies Ltd., a wholly owned subsidiary of VITEC Multimedia ("Vitec") pursuant to which Optibase will sell its video business to Vitec. For further information, please visit www.optibase.com.

Copyright Business Wire 2010

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