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Delek Group Announces Consolidated Results For The First Nine Months Of 2012

Contribution of Principal Operations to Net Income* (NIS millions)

       FY     Q3    Q3     9M    9M
 
     2011   2011  2012   2011  2012
      378    193   232    408   546  US Fuel Sector Operations
      199     68  (31)    165   (6)  Oil and Gas Exploration
       12     17    26     19    66  Delek Europe
        9    (2)    15     16    13  Israeli Fuel Sector Operations
     (23)      8     8   (13)     1  Road services in the UK
     (48)    (4)    46      3    61  Insurance and Finance Operations
       19   (39)   (1)      9    27  Automotive Operations
    2,064  (101) (202)  (156) (465)  Capital Gains & Others
                                     Net Income attributed Group's
    2,610    140    93    451   243  shareholders

* Parts of the above table have been extracted from Delek Group's First Nine Months 2012 Directors Report.

Please review the full report available on the Group's website http://www.delek-group.com to view the notes for each of the items above.

Energy & Infrastructure

Oil and Gas Exploration Sector Highlights. The activities in Israel are carried out mainly through Delek Energy Ltd., Delek Drilling LP & Avner Oil Exploration LP, of which Delek Group has a controlling share.

Yam Tethys ; A significant decline in natural gas production due to the depletion of the "Mari B" reservoir continued. However, its impact was minimised in the third quarter of 2012, through the increasing natural gas production from the Noa and Pinnacles reservoirs. Yam Tethys' project operator, Noble Energy Mediterranean, is producing natural gas from the "Mari B" at a rate of production that is designed to continuously maintain the reservoir production capacity, while maintaining the integrity of the production facilities of the Yam Tethys project.

Tamar,    a 9.7 TCF natural gas discovery off the coast of Israel remains on track for production in the first half of 2013. Following the implementation of the requested changes by the Public Utility & Electricity Antitrust Authority, the Tamar partners have signed amendments to the agreements with the Israel Electric Company as well as many of the other natural gas consumers in Israel including Hadera Paper, Ramat Negev Energy, Ashdod Energy and Dalia Power Energies. In addition, the partners signed a take or pay agreement to supply natural gas to Dorad Energy of up to a total of 11.2 BCM. In August 2012, all conditions were met to enable the Group's gas subsidiaries to begin withdrawal of the $800 million project financing facility.

Leviathan,    a 16.7 TCF natural gas discovery off the coast of  Israel . The Ensco 5006 rig completed the planned work for sealing the Leviathan 2 evaluation drill.  The estimated total cost of the work thus far was $85 million (at 100% of the rights).  There was also an additional cost of $23 million (100%) for surveying and monitoring. It should be noted that the partnerships are covered with control of well insurance which includes all the above work with a limited liability of up to $200 million per case. The Leviathan partners have received a refund from the insurance companies for the work implemented so far.

The Leviathan #4 appraisal well started in November and is expected to last for approximately 4 months at an estimated budget of $110 million (100%). The Leviathan natural gas field is spread over a wide area and therefore it requires a number of appraisal wells. It should also be noted that Leviathan 4 is expected to be used in future for production drilling, as part of the future development plan of Leviathan. The expected depth of the well is approximately 1,600 meters, and the planned final drilling depth is approximately 5,300 meters beneath sea level.

Finally, as part of the Leviathan strategic process, a proposal to acquire 30% of the rights in Leviathan was received in September from Woodside Petroleum Ltd. It should be noted that this offer together with the other  offers received  are subject to, among other things, various conditions such as due diligence and additional information that may be a basis for negotiation.

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