_________ false

C002

רבוע כחול ישראל בע"מ

2

Public

BLUE SQUARE - ISRAEL LTD

4860

Corporation no: 520042847

Stock Exchange/Market: רבוע כחול ישראל

633

380

Haamal 2, Afek Ind. Zone , Rosh-Ha'ayin 48092 , ,

Tel: 03-9282670 , 03-9282671 Fax: 03-9282498

E.mail address: ellils@bsi.co.il

Date of transmission: 22/05/2009

              Time of broadcast: 16:31 16:30:36

Reference: 2009-02-117540

Israel Securities Authority		Tel Aviv Stock Exchange
www.isa.gov.il		www.tase.co.il

Immediate Report

Regulation 4 of the Securities Regulations, (Periodic and Immediate Reports of Foreign Corporation) 5761-2000

The corporation is a foreign private issuer as defined by U.S. Securities Laws.

Attached hereto is a report on Rating report by Maalot standard and poors

דיווחמעלותמאי09_isa.pdf

References of previous documents relating to this matter(the reference does not constitute incorporation by reference):

Previous names of reporting entity:

Date of revision of form structure: 19/05/2009

Name of the Signatory: : Levinson Sela Elli , Position of Signatory in the reporting corporation: Legal Consultant & Corporate Secretary , Name of Employer Company: .

Haamal Telephone: 03-9282670 , Facsimile: 03-9282498 , E-mail: ellils@bsi.co.il 2