AZRIELI GROUP LTD 
By Convenience translation from Hebrew
January 1, 2012
Press release
Re: Agreement for the purchase of an office building in
Houston, Texas, U.S.A.
Azrieli Group Ltd. (the "Company") respectfully announces
that on December 29,
2011, an agreement that was signed between a U.S. corporation
indirectly held (100%) by the Company (the
"Buyer")1 and a third party (the "Seller") for
the purchase of an office building with 100% occupancy in
Houston, Texas, U.S.A. (the "Agreement")2, took
effect, after expiration of a thirty (30) day due diligence
period afforded to the Buyer, during which the Buyer and the
Seller were entitled to withdraw from the Agreement for any
reason.
In the Company's estimation, the Agreement, if closed, is not
expected to have a
material effect on the Company.
