-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Qb2fssL0S6mSHRgxYWFaYBWtHYimZSnQvmFnSLUj7c6DQrrKzbCsXovhAnO4LGjq
 iM5VruRRtyfc4mSzI+tJqA==

<SEC-DOCUMENT>0001178913-05-000127.txt : 20050207
<SEC-HEADER>0001178913-05-000127.hdr.sgml : 20050207
<ACCEPTANCE-DATETIME>20050207080301
ACCESSION NUMBER:		0001178913-05-000127
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20050207
FILED AS OF DATE:		20050207
DATE AS OF CHANGE:		20050207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NUR MACROPRINTERS LTD
		CENTRAL INDEX KEY:			0000946394
		STANDARD INDUSTRIAL CLASSIFICATION:	PRINTING TRADES MACHINERY & EQUIPMENT [3555]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26498
		FILM NUMBER:		05578947

	BUSINESS ADDRESS:	
		STREET 1:		5 DAVID NAVON STREET
		STREET 2:		MOSHAV MAGSHIMIM
		CITY:			PETAH-TIKVA ISRAEL
		STATE:			L3
		ZIP:			00000
		BUSINESS PHONE:		01197239087676

	MAIL ADDRESS:	
		STREET 1:		P O BOX 8440
		STREET 2:		MOSHAV MAGSHIMIM
		CITY:			ISRAEL
		STATE:			L3
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUR ADVANCED TECHNOLOGIES LTD
		DATE OF NAME CHANGE:	19950607
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk51277.htm
<TEXT>
<HTML>
<HEAD>
     <!-- Created by EDGAR Ease Plus (EDGAR Ease+) -->
     <!-- Project:        \\backup\office\EDGAR Filing\Nur Macroprinters Ltd\51277\a51277.eep -->
     <!-- Control Number: 51277                                                            -->
     <!-- Rev Number:     1                                                                -->
     <!-- Client Name:    Nur Macroprinters Ltd                                            -->
     <!-- Project Name:   6-K                                                              -->
     <!-- Firm Name:      Zadok-Keinan Ltd                                                 -->
     <TITLE>6-K</TITLE>
</HEAD>
<BODY>
<!-- MARKER FORMAT-SHEET="Scotch Rule Top-TNR2" FSL="Workstation" -->
<HR ALIGN=LEFT WIDTH=100% SIZE=4 NOSHADE STYLE="margin-top: -5px">
<HR ALIGN=LEFT WIDTH=100% SIZE=1 NOSHADE STYLE="margin-top: -10px">
<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>SECURITIES AND
EXCHANGE COMMISSION </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>Washington, D.C. 20549 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>FORM 6-K </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Report of Foreign
Private Issuer </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant to Rule
13a-16 or 15d-16 <BR>
of the Securities
Exchange Act of 1934 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>For the month of February
2005 <BR><BR>
Commission File Number: 000-26498 </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="5"><U><B>NUR Macroprinters Ltd.</B></U> </FONT> <BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Translation
of registrant&#146;s name into English) </FONT> </P>

<!-- MARKER FORMAT-SHEET="Head Sub 2 Left-TNR" FSL="Workstation" -->
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>12
Abba Hillel Silver Street, Lod, Israel 71111</U><BR>
(Address of principal executive offices) </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Indicate by check mark whether the
registrant files or will file annual reports under cover Form 20-F or Form 40-F. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Form 20-F <FONT size="3" face="Wingdings">x
</font> Form 40-F
<FONT size="3" face="Wingdings">o
</font> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1): ____ </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Indicate by check mark if the
registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7): ____ </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Indicate by check mark whether by
furnishing the information contained in this Form, the registrant is also thereby
furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Yes <FONT size="3" face="Wingdings">o
</font> No <FONT size="3" face="Wingdings">x</font> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If &#147;Yes&#148; is marked,
indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________ </FONT></P>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On February 2, 2005, NUR Macroprinters Ltd. (the &#147;<B>Company</B>&#148;) issued a
press describing certain events and developments including: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 0-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="1" face="Wingdings 2">&#151;
</font>  </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
execution of a definitive agreement with Inspire Investment Ltd.;</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 0-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="1" face="Wingdings 2">&#151;
</font>    </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
status of the Company's negotiations with its lender banks;</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 0-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="1" face="Wingdings 2">&#151;
</font>    </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
Company's appeal of its delisting from the Nasdaq SmallCap Market;</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 0-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="1" face="Wingdings 2">&#151;
</font>    </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dan
Purjes entering into a Voting Agreement with the Company; and</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 0-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT size="1" face="Wingdings 2">&#151;
</font>    </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
Company's expectation of a write-off.</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
text of the press release is attached hereto as Exhibit 1. The Voting Agreement between
the Company and Dan Purjes is attached hereto as Exhibit 2. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following document is attached hereto and incorporated herein by reference: </FONT></P>


<!-- MARKER FORMAT-SHEET="Exhibit Index Hang" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 1.  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Press
Release dated February 2, 2005  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Exhibit Index Hang" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 2.  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Voting
Agreement dated as of January 23, 2005 between NUR Macroprinters Ltd. and Dan Purjes </FONT></TD>
</TR>
</TABLE>
<BR>



<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Signatures </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized. </FONT></P>




<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Workstation" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NUR Macroprinters Ltd.<BR><BR>
<BR>BY: /S/ David Seligman<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
David Seligman<BR>Chief Financial Officer</FONT></TD>
</TR>
</TABLE>
<BR>



<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date February 6, 2004 </FONT></P>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Head Sub 2 Left-TNR" FSL="Workstation" -->
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit Index</FONT></P>




<!-- MARKER FORMAT-SHEET="Exhibit Index Hang" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 1.  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Press
Release dated February 2, 2005 </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Exhibit Index Hang" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 2.  </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Voting
Agreement dated as of January 23, 2005 between NUR Macroprinters Ltd. and Dan Purjes </FONT></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">


</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exhibit_1.htm
<TEXT>
<HTML>
<HEAD>
     <!-- Created by EDGAR Ease Plus (EDGAR Ease+) -->
     <!-- Project:        \\backup\office\EDGAR Filing\Nur Macroprinters Ltd\51277\a51277.eep -->
     <!-- Control Number: 51277                                                            -->
     <!-- Rev Number:     1                                                                -->
     <!-- Client Name:    Nur Macroprinters Ltd                                            -->
     <!-- Project Name:   6-K                                                              -->
     <!-- Firm Name:      Zadok-Keinan Ltd                                                 -->
     <TITLE>6-K</TITLE>
</HEAD>
<BODY>
<!-- MARKER FORMAT-SHEET="Scotch Rule Top-TNR2" FSL="Workstation" -->
<HR ALIGN=LEFT WIDTH=100% SIZE=4 NOSHADE STYLE="margin-top: -5px">
<HR ALIGN=LEFT WIDTH=100% SIZE=1 NOSHADE STYLE="margin-top: -10px">

<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U><B>Exhibit 1</B></U> </FONT> </P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH></TH>
     <TH></TH></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><IMG SRC="logo.jpg" HEIGHT="58" WIDTH="101"></FONT></TD>
     <TD ALIGN="Right" VALIGN="Bottom"><FONT FACE="Times New Roman, Times, Serif" SIZE="7"><B><I>NEWS</I></B> </FONT> </TD></TR>
<TR VALIGN="TOP">
     <TD COLSPAN="2"><HR SIZE=1 NOSHADE WIDTH=100% ALIGN=LEFT></TD></TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Workstation" -->
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><U><B>FOR IMMEDIATE RELEASE</B></U> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>NUR MACROPRINTERS
ACTIVELY WORKING TO IMPROVE <BR>
ITS FINANCIAL STABILITY </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Minor Center Bold-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Enters into a
definitive agreement with Inspire Investment Ltd. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Minor Center Bold-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Negotiating with its
lending banks, two of three banks verbally approved proposal </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Minor Center Bold-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Appeals NASDAQ
delisting and is awaiting panel&#146;s ruling </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Minor Center Bold-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dan Purjes enters a
voting agreement with the Company </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Expects write-off </FONT></H1>

<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Workstation" -->
<HR SIZE="1" NOSHADE WIDTH="15%" ALIGN="CENTER">

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LOD,
Israel, February 2<SUP>nd</SUP>, 2005 &#150; NUR Macroprinters Ltd. (Nasdaq: <U>NURM</U>),
a leading supplier of wide-format inkjet production printing systems for the out-of-home
advertising market, today announced that it is actively working to improve its financial
stability and to address its current and future compliance with the Nasdaq SmallCap Market
continued listing requirements. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Inspire Investment Ltd.</U> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Following NUR&#146;s announcement of
December 21, 2004 regarding an agreement in principle with Inspire Investments Ltd. (TASE:
INSP) to invest $10 million in NUR (the &#147;Inspire Investment&#148;), NUR is announcing
that it has executed a definitive agreement with Inspire. The definitive agreement is
subject to a number of conditions, including: completion of due diligence by Inspire;
NUR&#146;s ability to enter into agreements with its lender banks regarding the
restructuring of NUR&#146;s bank debt and the approval of the Inspire Investment by
NUR&#146;s lender banks and by NUR&#146;s shareholders. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The definitive agreement contemplates
the issuance to Inspire of approximately 15.3 million ordinary shares at $0.65 per share
and warrants to purchase 7.2 million ordinary shares at $0.75 per share. The definitive
agreement will be adjusted to reflect the nature and terms of the restructuring of
NUR&#146;s bank debt as detailed below. There can be no assurance that the Inspire
Investment will be completed, that NUR will be successful in reaching an agreement with
its lender banks regarding the restructuring of its bank debtor that its lender banks or
shareholders will approve the Inspire Investment. </FONT></P>



<p align=center>
<font size=2>- more -</font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Negotiations with Lender
Banks</U> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NUR has been engaged in active
discussions with each of its lender banks regarding the restructuring of its outstanding
bank debt. Two of its three lender banks, to whom NUR owes approximately 90% of its
current bank debt ($38.8 million of a total of $43.2 million), have given preliminary
verbal approval of the debt restructuring proposal submitted by NUR&#146;s management. NUR
is continuing discussions with the third bank regarding the restructuring of the balance
of its outstanding bank debt. The actual terms of any restructuring of NUR&#146;s
outstanding bank debt remains subject to final approval by each of NUR&#146;s lender
banks, the closing of the Inspire Investment and the approval of NUR&#146;s shareholders. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;According
to the debt restructuring proposal submitted by NUR&#146;s management, NUR&#146;s three
lender banks would convert an aggregate of $15 million of NUR&#146;s outstanding debt into
5.0 million ordinary shares and would be granted warrants to purchase an aggregate of 13.3
million ordinary shares, with no exercise price. These warrants to be granted to
NUR&#146;s lender banks would have a five year term. If the above mentioned debt
restructuring agreement is completed and approved, Inspire would be granted warrants to
purchase an additional 8.2 million ordinary shares (bringing Inspire&#146;s total to 15.4
million warrants) at $0.75 per share. In addition, Inspire would be entitled to purchase
the warrants to be issued to NUR&#146;s lender banks at $0.75 per warrant. If Inspire
chooses not to exercise its right to purchase the warrants issued to NUR&#146;s lender
Banks, NUR would be entitled but not obligated to purchase the warrants from its lender
banks at $0.75 per warrant. There can be no assurance that NUR will be successful in
reaching an agreement with its lender banks regarding the restructuring of its bank debt. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Appeal of Nasdaq SmallCap
Delisting</U> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On January 27th 2005, representatives
of NUR&#146;s management appeared before an independent hearing panel to appeal the Nasdaq
Staff&#146;s previously announced decision to delist NUR&#146;s securities from the Nasdaq
SmallCap Market as a result of NUR&#146;s failure to comply with the minimum $2.5 million
stockholders&#146; equity requirement for continued listing set forth in Marketplace Rule
4320(e)(2)(B). In the event NUR&#146;s appeal is not successful, NUR&#146;s ordinary
shares will cease to be quoted on the Nasdaq SmallCap Market and NUR will seek to have its
ordinary shares made eligible for trading on the OTC Bulletin Board. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Voting Agreement with Dan
Purjes</U> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NUR also announced that it has entered
into a voting agreement, coupled with an irrevocable proxy with Dan Purjes, a former
director and former chairman of NUR&#146;s the Board of Directors and owner of
approximately 30% of NUR&#146;s ordinary shares. Further to conversations between
representatives of NUR and Nasdaq, NUR and Mr. Purjes have also agreed to place the shares
subject to the voting agreement into a voting trust. As a result, voting control of all
shares owned by Mr. Purjes and his family and affiliates (collectively, the &#147;Purjes
Group&#148;) will be controlled by an independent trustee who will vote the Purjes
Group&#146;s securities proportionally according to the votes cast by NUR&#146;s other
shareholders on any matter submitted to a shareholder vote. In consideration of Mr. Purjes
entering into the voting trust agreement, NUR will grant to Mr. Purjes five-year warrants
to purchase 3.0 million ordinary shares at $0.75 per share. While the voting agreement is
effective immediately, the grant of warrants to Mr. Purjes is subject to shareholder
approval. In the case that the shareholders do not approve the grant, the voting trust
agreement will automatically terminate and NUR&#146;s ordinary shares will cease to be
quoted on the Nasdaq SmallCap Market. </FONT></P>


<p align=center>
<font size=2>- more -</font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Write &#150; Off Expected</U> <BR>
NUR also announced that it is
considering the discontinuation of its Salsa product line due to diminished customer
demand, in order to optimize its current and future product lines. The discontinuation of
this product line is expected to result in a write-off of excess inventories and good-will
associated with this product line. In addition, the Company is also evaluating some of its
estimates regarding account receivables with respect to which the Company has pursued
legal and other means of collection. While the actual amount of the write-off associated
with inventory, accounts receivables and other assets has not yet been finally determined,
NUR expects that the amount of the special charge related to the foregoing will be between
$13- $18 million. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>ABOUT NUR MACROPRINTERS
LTD.</B> <BR>
NUR Macroprinters (Nasdaq-SCM: NURM)
is a leading supplier of wide-format inkjet printing systems used for the production of
out-of-home advertising materials. From entry-level photo-realistic printers to
high-throughput production presses, NUR&#146;s complete line of cost-effective, reliable
printing solutions and companion inks are helping customers in over 100 countries
worldwide address the full spectrum of wide-format printing requirements. NUR customers,
including commercial printing companies, sign printers, screen printers, billboard and
media companies, photo labs, and digital printing service providers, count on NUR to help
them deliver the high quality and fast turnaround they need to meet their clients&#146;
exacting demands and succeed in today&#146;s competitive marketplace. More information
about NUR Macroprinters is available at <U>www.nur.com</U>. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>SAFE HARBOR:</B> <BR>
This press release contains
forward-looking statements that involve substantial risks and uncertainties. All
statements, other than statements of historical facts, included in this press release
regarding our plans and objectives of management are forward-looking statements. The use
of certain words, including the words &#147;estimate,&#148; &#147;project,&#148;
&#147;intend,&#148; &#147;expect,&#148; &#147;believe&#148; and similar expressions are
intended to identify forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. We may not actually achieve the plans,
intentions or expectations disclosed in our forward-looking statements and you should not
place undue reliance on our forward-looking statements. Actual results or events could
differ materially from the plans, intentions and expectations disclosed in the
forward-looking statements we make. Various important factors could cause actual results
or events to differ materially from those which may be expressed or implied by the
forward-looking statements that we make, including, among others, the failure of our
appeal of the Staff&#146;s determination to delist our ordinary shares from the Nasdaq
SmallCap Market, our inability to have our ordinary shares listed for trading on the OTC
Bulletin Board in the event our ordinary shares are delisted from the Nasdaq SmallCap
Market, , our inability to successfully reach agreements with each of our lender banks
regarding the restructuring of our bank debt, the failure of our previously announced
proposed transaction with Inspire Ltd. to close, changes in general economic and business
conditions and specifically, a decline in demand for our products, our inability to secure
waivers from our lenders regarding our failure to fulfill covenants contained in our loan
agreements; our inability to timely develop and introduce new technologies, products and
applications and loss of market share and pressure on prices resulting from competition;
our inability to successfully conclude the negotiations with potential investors and thus
our inability to secure additional funding to our present and future operations. These and
other risks and uncertainties associated with our business are described in greater detail
in the filings we make from time to time with, Securities and Exchange Commission,
including our Annual Report on Form 20-F. The forward-looking statements are made as of
this date and the Company does not undertake any obligation to update any forward-looking
statements, whether as a result of new information, future events or otherwise. This press
release is available at <U>www.nur.com</U> </FONT></P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=15% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CONTACT:</FONT></TD>
     <TD WIDTH=28% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>David Seligman</FONT></TD>
     <TD WIDTH=14% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>IR Firm:</FONT></TD>
     <TD WIDTH=43% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Ehud Helft / Kenny Green</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CFO</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>GK Investor Relations</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>+ 972 (54) 772-6559</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>+1 866 704-6710</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>cfo@nur.com</U> </FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>ehud@gk-biz.com</U> / <U>kenny@gk-biz.com</U> </FONT> </TD></TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">


</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+#`Q-#0T'R<Y/3@R/"XS-#+_
MVP!#`0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P``1"`"M`2\#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#W^BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"D9E1&=V"JHR23@`5G:W
MKVG>'[/[3J$X13PB#EW/HH[UXYKGC_4];F\LR/:V9;_50'!VY/4Y^8XV^@R.
M@KJP^$J5]5HNYQXK&T\/H]7V/6;OQ-:QW'E6G^E&-AYWE@D("#_%TSTX&2<C
MC!R+FGZFMXI$BB*4()&C_N*>1N]#WYQ^AQY7H/GV\?VHRG[,71D%P`\LPVEL
M`$A1DEE!SSDC#8J_!J<3+<06THCL73,$",V]V9N68X(7(<,<Y.">>!C:KAH0
MB]=%U,*6+G-K3?H>FVM_:WD<LEO,LD<3E&<=`1UY[_4<5AZCXLBA<QV2"8CK
M(V0OY=ZYE[RXNF*(#&')_=K(2`/3)[#N<#/)/)IH51"I0`9/,K#@$<X'Z>_3
MUKXK'9PYR<,+HN_?T_K[CZW"9=RQ4L1OV_S+D>O7PNDF>Y=CT8-PN/H/\_6N
MZM)6GM8Y6*DL,Y7./U`_E7G5N1'(9O)$RJW60<?B.GIUKK-*UW[;+';J@7'7
M;&2,<_E]>G?VJ<GQ;4G&K.[>R_X)68X>\4Z<=MS?HHHKZ<\,****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"L3
MQ-XGLO#6GM/<$M.P(AA'5VP<?0<<GM5G7=;M=`TJ:_NS\J#Y8P1N=N@`_P`^
M]?/VLZU>:[J,U[>2$M(V0@)VH.P`[`5WX+!NN^:7PH\['XY8>/+'XG^`FKZQ
M>Z[J#7M_,9)F`4=@H'0`=A_4D]ZI(P4Y**_LV?Z4I>00B/D1D[\8QD],^_?Z
M<^IIE?0QBDK+8^8E)R?,W=EF\N9[FX8RJBOD`K&@49`QVZUUVC:?+"OG7&X,
M0`JG@GW;'4^QZ?6L[PSI88_;IDX'$0;U_O5U%?GO%.=\TG@:&R^)^?9>G7[C
M[OAO)W&*QE;=[+]7^GWA3BS,57)95X52<XYZ4VG(&+J$R7R-NWKGVKX='V3+
M?D37=\+9(`LAPJQ1]%^O7IWS[UVNCZ3_`&9"0TF^1@-VWA?R[_7K4.AZ4FDV
M;33LHF==TC$X"+UQ_C5+4?'&EVDT4%H)=0FDD*;+52P&,9.[IW!Z]`?3%?7Y
M;@(T%[:M\3_#_@G@XBK5Q,O94%=+^ON.FHKDM/\`$.HN8&U#['`'(`BCE$DD
MH.3N4<$`<`Y`^ZW8@CH'U>PCU!;%KJ$7#`ML+@'CKU/)]ATKV5-,X*F&J4W9
MJ_IJ7:***HYPHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"FR2)%&TDCJB("S,QP`!U)-.KS;XJ^(?(M(M#MW'F38DN,'[J`
M_*OXD9_`>M;4*+K5%!&&(KJA3=1]#B/&7B=O$^K^<@=+.'*P1L><=V/H3@<>
MPKG***^IIPC3BHQV1\?4J2J2<Y;L*OZ1I_\`:%\D9_U8.Z3GM_GC\:J00R7,
MZ0Q+EW.`*[K1]-CTZT5=H,C'+MC!/H/RKP>(<WC@,,XP?[R6B\O/Y?F>UD.5
M2QV(4I+W([^?E\_R-`#8`%P!C``]***4@J2"""."#7Y(?J0AZ],5=CU/3?#"
M?VEJ['?MS;6RC,DAXY`[`9ZG^E8&LZX-#MUF18Y+EC^ZC<9&?[Q'H/YX[9KS
MJ\O+G4+N2ZNYFFGD8L[L>22<UZ^6X975>739?J=-'`2Q*]YVC^+_`*[G2^(O
M'^K>()Y=S-;6S#:EO%(=H'/+?WCSUXZ#BDTN9;#3/M<CQ:?(K,(WP6FD?Y06
M1<_+@$X88].>0.6CD>*0.C%77D$=0?458::ZO9UAEEFE8XC1$^?<0"%``Z\G
M'XD\YY]SG;=WN>H\'3A!4Z:48K^OZO<]"TMHY[NSM+$I]B7("1R"6>Y=2S<M
MCY%#`'.`I?8<<DCTG1="\FTB;4H+9KI6#?NP2`RDX;DGGH<=%Z#I6#X#\$OH
MD)NKZ)$DD!*PG#NF0N0[``'!!P.@R>_3O*]"C!I7D?#YIC(RJ.G1=TNO?^OZ
MTT"BBBMSQ0HHHH`****`"BBB@`HHHH`X[QI\3?#G@5XH=4EFENY5WK:VJ!Y-
MN<9.2`!]2,X..E7/!WCO0O'-E)<:/<.7A($UO,NV6/(XR,GCW!(X/-?+'Q9E
MDF^*?B!I&+,+G:"?154`?@`!6+X6\3:CX0\06VLZ8X$\)(9&^Y*AZHP[@_H<
M$<@4`?<U%8WA;Q-IWB_P_;:SICDP3`AD;[\3CJC#L1^HP1P16S0`4444`%5=
M2U*STC3I]0U"XCM[2W0O++(<!1_GC'4GBK5>1?M%RR1_#JT5&(634XU<#^(>
M7*<?F`?PH`T=)^.W@O5M8CTX2WEKYCA$N+J)4B8GIR&)'U(`KTRO@"ON+P5+
M)/X#\.S2L7DDTRV9F/4DQ*2:`-VN7\;>/=%\!Z='=:K)(\LQVP6L`!ED]2`2
M,`=R?YX%=17S%^T?(Y\?Z=&78HNEHP7/`)EER<>^!^0H`]9\#_&+P_XUU$Z9
M''/87Y!:.*Y*XF]0C`\D#G!`]LX./1*^(O`,CQ_$3PTR.RDZI;+E3C@RJ"/Q
M!(K[=H`CGGBMK>6XF<)%$A=W/15`R37S7JFI7&KZG<7]TVZ:=]S>W8`>P&!^
M%>M?%/7#8Z)'ID+`2WI^?CI&O7\SC\,UXU7NY71Y8.H^I\[F]?FFJ2Z?F%%%
M2V\+7-S'"GWI&"CVS7ISDH1<I;(\F,7*2C'=G1^%++"RWKKU^2,_S/\`+]:Z
M?/&*C@AC@@2%,A$4*O?I3Z_%<UQ\L?BYXA[/;R2V_KN?KV6X*."PL:"W6_F^
MHN."<CBF22)%$\DC!40%F)[`=:=7,>,=2,%HEC&WSS?,_J%!_J?Y&N2A2=6H
MH+J>I1INI-01R>I:A-J=Z]Q*Q.3A%[*O8558!3@,&X!R,^G3G\J2BOJ8Q45R
MK8^DC%15EL/BBDGF2&&-I)9&"HB#+,3P``.IKT5-9\.?!^PMYM:A:\\1WB"0
M6UN%9[=,8Y)/RYY!(ZG@`@9KH?AEX*CT^W37;U%DN)D5K8,A!B4CDX/<YQGT
M''!KPSXWR._Q=UI6=F""!5!.=H\B,X'IR2?QKT</0M[\CXG/LW=5O#47[JW?
M?R]#Z'\"?%#0O'OFPV7FVM]"-SVMQ@,5_O*03N'8]QW'(SVU?(7P0D=/B[HJ
MJ[*'$ZL`<;AY$AP?7D`_A7U[76?+B,RHI9B`H&22>`*\AUO]H;PUIFIS6=E8
MW>HI$Q4W$3*L;D?W"3DCWP/;(YKT'QO(\7@#Q')&[(Z:7<LK*<$$1-@@U\/4
M`?1__#2FC_\`0OWW_?Y*/^&E-'_Z%^^_[_)7SA10!]'_`/#2FC_]"_??]_DJ
MS;?M(^&G5OM6CZM$V?E$0CD!'OEUQ7S/10!]<Z3\<?`VJ31PMJ,MB[@$?;(2
MB@^A8948]SCWKO[.]M=0MDN;*YAN;=QE989`ZL/8C@U\#UJZ%XEUKPS>"[T;
M4KBSE!R?+;Y6]F4_*P]B#0!]U45Y-\)_B]'XO5=&UQXX=<4'RW`"I=+[#LX[
MCOU'<#UF@#XP^*G_`"5#Q#_U]G^0KCZ[#XJ?\E0\0_\`7V?Y"L7P_P"';_Q-
M>SV6F1^;=1V[SK$.L@3DJOOC.!WZ4`='\,/B%<>`O$'F2;Y=)NB%O(%`)P,X
M=?\`:7/XC(]"/L"TN[>_M(;NTFCGMYD#QRQME74]"#7P.RE&*L"&!P01R#7L
MOP2^)PT&[3PSK5QMTNX?_19I&`6UD.20?16)^@//<D`'TS1110`5X_\`M'?\
MD\T__L*Q_P#HJ6O8*\?_`&CO^2>:?_V%8_\`T5+0!\P5]O\`@3_DGGAK_L%6
MO_HI:^(*^W_`G_)//#7_`&"K7_T4M`'05\P?M'?\E#T__L%1_P#HV6OI^OF#
M]H[_`)*'I_\`V"H__1LM`'G_`($_Y*'X:_["MK_Z-6OM^OB#P)_R4/PU_P!A
M6U_]&K7V\S*B,[L%51DDG``H`\&^(=^]]XSO0P(6WVP(">P']22?QKEJNZO?
MG5-8O+\Y'VB9I`#V!/`_`8%4J^NHPY*<8]D?%5I\]24N["NC\*6A:>6[9?E5
M=BD^IZX_SWKG*]!T*R-II$:S#:^"Q4]<GM^&17SO%>+]A@'3B]9NWRW?^7S/
M=X8POML:JC6D%?Y[+_/Y%^3;O(0DJ.!FFT8HK\I9^FH0D*I9B`!R2>U>6ZG?
M-J.HS7+=&;Y1Z*.@_*NW\4:BMEI3PJ^)YQM0#T_B/Y<?C7GM>SE=&T74?71'
MKY=2LG4?4*]0^'OPZ34(8M8UJ(-;/AK>`G[XS]YAZ'T[^G(K#^'?@^3Q%JZ7
MES$#IEJX,I89$K#D)[]B?;ZBO?@`J@```<`#M7T6&H\WO2/)S[-W1_V:@_>Z
MOMY>HM?('QM_Y*]KO_;O_P"D\=?7]?('QM_Y*]KO_;O_`.D\==Y\2'P2_P"2
MO:%_V\?^D\E?7]?('P2_Y*]H7_;Q_P"D\E?7]`'/^._^2>>)?^P5=?\`HIJ^
M(*^W_'?_`"3SQ+_V"KK_`-%-7Q!0!]*_L]:987G@&_DNK*VG<:I(H:6)6('E
M1<9(]Z]:_L'1_P#H$V/_`(#I_A7E_P"SC_R3S4/^PK)_Z*BKV"@#/_L'1_\`
MH$V/_@.G^%5+OP;X8OFW7?AS29WV[=TEE&6`]`<9'4UMT4`><:U\#O`^K1,(
M=/DTZ8CB6SE(Q_P%LK^E>%?$;X3:GX!6.\6X&H:5(VS[2L>QHV[*ZY.,]CG!
MQVX%?7E4=9TBSU[1[O2M0B\RTNHS'(N<'![@]B#@@^HH`^$89I+>:.:&1XY8
MV#HZ,0RL.001T(K[(^&'C9/''A"&\D;_`(F%OB"]7;C]X!]X8XPPYXZ<CM7R
M%K6G-H^NZAICMN:SN9+<GU*,5_I7KO[-NI/#XKUC3,@1W-D)SDCEHW``_*1N
M_;\@#A/BI_R5#Q#_`-?9_D*Z#X`_\E1@_P"O2;^0KG_BI_R5#Q#_`-?9_D*Z
M#X`_\E1@_P"O2;^0H`Z7XY?#$6<DOBW1+?%NYSJ$$:@"-C_RU`]">O'7GN<>
M%5]^30QW$,D,T:212*4='4%64C!!!Z@U\D_%KX;R>!];^U6:L^BWKDV[DY,3
M]3&?IU![CW!H`]3^"7Q..O6B>&=:N-VJ6Z?Z+-(Q+748R2#ZLH'U(Y[$GV:O
M@:TN[BPNX;NTFD@N(7#QRQMAD8="#7V%\,OB!;>/?#PF8I'JML`EY`HP`W9U
M&3\I_0@CZ@';UX_^T=_R3S3_`/L*Q_\`HJ6O8*\?_:._Y)YI_P#V%8__`$5+
M0!\P5]O^!/\`DGGAK_L%6O\`Z*6OB"OM_P`"?\D\\-?]@JU_]%+0!T%?,'[1
MW_)0]/\`^P5'_P"C9:^GZ^8/VCO^2AZ?_P!@J/\`]&RT`>?^!/\`DH?AK_L*
MVO\`Z-6OLSQ#=K8^'-1N74L$MWX'<XP!^=?&?@3_`)*'X:_["MK_`.C5K[9N
M[:*]LY[2=2T,\;1N`<95A@\_0U4&E)-DS3<6EN?,5%;?B;PU=>&M2:VF)DB/
M,<P4@,#G'XX'/OGKBLB""6YGC@@C:261@J(HR6)[`5];&<91YD]#XJ=.4)<D
MEJ7=%L'OM0C&PF&-@TC8X`]/QQ7H).U$5B2N=Q4'_//%;VC^$UT7P<L$Q`NE
M;[7<-G^(#[N1V`XX[@^M83&+RSLW;BYZ]`O;_/M7YCQ7B)UL6M?=2T_5_,_2
M.&L+&AA7I[S=W^B^1&26))ZGFFDA5+,0`.23VI:Y?Q=JXA@_L^%OWD@S*1_"
MOI^/\OK7S-&E*M-01]31I.K-01S&LZDVJZB]P1A!\L8]%'3_`!_&H+"QGU+4
M+>QMDW3SR"-![DXY]JKUZQ\(O#`9G\1SE6V[H;9.ZGHS'\.!]3[5]90HIM0C
ML>OCL5#`X9U.VB]>AZ1X?T6W\/Z':Z;;@;8E^=O[[GEF_$_X5IT45["22LC\
MQG.523G)W;"OD#XV_P#)7M=_[=__`$GCKZ_KY`^-O_)7M=_[=_\`TGCID!\$
MO^2O:%_V\?\`I/)7U_7R!\$O^2O:%_V\?^D\E?7]`'/^._\`DGGB7_L%77_H
MIJ^(*^W_`!W_`,D\\2_]@JZ_]%-7Q!0!]/\`[./_`"3S4/\`L*R?^BHJ]@KQ
M_P#9Q_Y)YJ'_`&%9/_145>P4`%%%%`!117-^//%,7@[P=?ZPY4S(FRW0_P`<
MK<*/SY/L#0!\F?$>=+GXE>(W1-@&H3)CW5BI/XD$_C76?L^P22_$T.BY6&RE
M=SGH/E7/YL/SKRZ:62>9YI6+R2,69CU)/)->^?LVZ"X.L>(9$PI"V<#8Z\AW
M_E'^M`'F'Q4_Y*AXA_Z^S_(5T'P!_P"2HP?]>DW\A7/_`!4_Y*AXA_Z^S_(5
MT'P!_P"2HP?]>DW\A0!]7UFZ_H5AXET2ZTC4XO,M;E-K`<%3V93V(."#[5I4
M4`?$'C+PCJ'@KQ%/I%^-^WYH9U4A9HST9<_D1V((J+PGXHU#P?XAM]8TYAYL
M1P\;?=E0_>0^Q_3@]J^M/B-X"M/'OAUK-_+BU"#+V5RP)\ISC(./X6P`?P."
M0*^.M2TV\TC49]/U"WDM[NW<I+%(,%3_`)YST(YH`^W?"_B73_%N@6VL:;)N
MAF'S(2-T3]T8#H1_@>]>;_M'?\D\T_\`["L?_HJ6O'/A=\0Y_`>O@S-))H]T
M0MW"O;TD7W'IW''ICUW]H2[M[_X8Z5=VDT<]O-J<3QRQME74PRX(-`'S-7V_
MX$_Y)YX:_P"P5:_^BEKX@K[?\"?\D\\-?]@JU_\`12T`=!7S!^T=_P`E#T__
M`+!4?_HV6OI^OF#]H[_DH>G_`/8*C_\`1LM`'G_@3_DH?AK_`+"MK_Z-6OM^
MOB#P)_R4/PU_V%;7_P!&K7V_0!S_`(M\+)XJT^*V-TUL\<@<.(PX/!&",CU/
M>F>'O!>EZ!#`507%U"69;B0<@MUP.@X`'K71T5K[>HH>S3T,7AZ3J>T:U*VH
M*6T^X"JK-Y;%0W3..*\T)).22>W->DZG%-/IES%;MB5D(7W]OQZ?C7F&OO-X
M=L!=7MK,%9Q&@QPS$$XSTZ`U\KGM*I4JP4(MZ?(^DR>S3BGJWMU*NL:FFE6#
MSM@R'B-#_$W^'>O-+B>6ZN))YF+2.=S$U8U+4I]3NVGG8X/W4!.U![?E50`L
M0`"2>`!WJ<'A50CK\3/ML+AE1CKNR[H^E7.MZM;:=:+F:=PH)Z*.['V`YKZ8
MTG3+;1M*MM.M%VPP)M7W/4D^Y))_&N3^'/@K_A'+`W]\@_M.Y7D?\\4Z[?KZ
M_@.W/<U[V'I<BN]V?%9]F2Q57V5-^Y'\7W_R"BBBND\`*^0/C;_R5[7?^W?_
M`-)XZ^OZ^0/C;_R5[7?^W?\`])XZ`#X)?\E>T+_MX_\`2>2OK^OD#X)?\E>T
M+_MX_P#2>2OK^@#G_'?_`"3SQ+_V"KK_`-%-7Q!7V_X[_P"2>>)?^P5=?^BF
MKX@H`^G_`-G'_DGFH?\`85D_]%15N>./C%X?\%:B-,DCGO[\`-)%;%<0^@=B
M>"1S@`^^,C.'^SC_`,D\U#_L*R?^BHJ\9^+>@:GHGQ#U66_20PW]S)<VT[?=
MD1FS@')^[D+CM@<`$4`>K?\`#2FC_P#0OWW_`'^2H+G]I>R15^R^&;B5L_,)
M;M8P![85LU\[T4`>WZE^TEK$\4J:;H-G:,RX1YIFF*'N>`H/M_6O*/$7BG6_
M%=\+S6M0ENY%SL#'"1@]0JCA>@Z#M4%GH&LZB8Q8Z1?W)D&4\BV=]P]L#GI7
M>>&?@9XNUXI+>P)I%JPR7O/]9CVC'.?][;WH`X+1-%O_`!%K%MI6F0--=W#[
M44=!ZDGL`.2>PK[9\,^'[/PMX=LM&L5Q#:QA=Q',C=6<^Y.3^-8W@7X<Z)X"
MLW73U>>]F4">\FQO?V&/NKGG`]LDXS77T`?&'Q4_Y*AXA_Z^S_(5T'P!_P"2
MHP?]>DW\A7/_`!4_Y*AXA_Z^S_(5T'P!_P"2HP?]>DW\A0!]7T444`%>2_&?
MX8CQ5IQUS1[?.MVJ?/'&HS=QC'!]64=.Y''/&/6J*`/@"M^7Q;J-QX(3PK<,
M9K.&]6[MV9LF'".K(/\`9._/L0?6O4_CG\,OL$TOB[1H0+25LZA`H`$3D@"1
M0.S$\^A.>YQX;0`5]O\`@3_DGGAK_L%6O_HI:^(*^W_`G_)//#7_`&"K7_T4
MM`'05\P?M'?\E#T__L%1_P#HV6OI^OF#]H[_`)*'I_\`V"H__1LM`'G_`($_
MY*'X:_["MK_Z-6OM^OA;PMJ$&D^+M%U*Z+"WM+^">4J,D(DBL<#OP*^F?^%_
M>!O^>]]_X"G_`!H`]0HKR_\`X7]X&_Y[WW_@*?\`&C_A?W@;_GO??^`I_P`:
M`/4*RO$>C1Z[H=U8NJ%WC;RF8$A'*D!NH]:X3_A?W@;_`)[WW_@*?\:/^%_>
M!O\`GO??^`I_QI-)JS+IU)4Y*<7JCR:*QEN=2^Q6G^D.TA1#&"0X'\0[XQS]
M*]2^'_PWD@EM]:UM"DB'?!9NN"I[,_H>^WZ9]*@M?C)\,;"X-Q9VC6\Q!!DA
MTX(Q!ZC(YJ]_PO[P-_SWOO\`P%/^-<U/#*+O+4^AQ_$56O3]G17*GN^IZA17
ME_\`PO[P-_SWOO\`P%/^-'_"_O`W_/>^_P#`4_XUU'S9ZA17E_\`PO[P-_SW
MOO\`P%/^-'_"_O`W_/>^_P#`4_XT`>H5\@?&W_DKVN_]N_\`Z3QU[?\`\+^\
M#?\`/>^_\!3_`(U\^?$O7['Q1\0=4UG36D:SN/*\LR+M;Y8D4Y'U4T`:GP2_
MY*]H7_;Q_P"D\E?7]?('P2_Y*]H7_;Q_Z3R5]?T`<_X[_P"2>>)?^P5=?^BF
MKX@K[?\`'?\`R3SQ+_V"KK_T4U?$%`'T_P#LX_\`)/-0_P"PK)_Z*BKTW7?#
MVE>)M,DT[5[*.ZMW'1QRI]5/53[BO,OV<?\`DGFH?]A63_T5%7L%`'RW\0?@
M=JOALRZCH/F:EI8)8Q@9G@7KR!]X>X_$=Z\DK[_KR_X@?!;1O%OFW^F>7IFK
MMR9%7]U,?]M1T/\`M#GUS0!X)X&^)NO>!9PEI+]ITXDF2QF8[#GJ5/\`"?<?
MB#7T_P""_B)H/CFTWZ;<>7=H`9;.8@2I]!_$/<?I7R)XC\+ZSX3U(V&LV4EM
M+R48\I(,_>5NA%9UG>W6G7D5Y97$EO<PMNCEB8JRGU!%`'WQ17A7P^^/L%X8
MM,\8;()R0J:C&N(W_P"NBC[IS_$/EYY"@9KW&">&Z@2>WECFAD&Y)(V#*P]0
M1UH`^0/C'I=WIOQ/UAKF)E2ZD$\+X.V1&4<@GK@Y!]P:Z#]GK2[NY\?RZA'$
MWV2TM'$LI!VAFP%7/J>3CT!KZ0UKP[HWB*W2#6-,M;Z-#E//C#%#QG:>HS@9
MQUJ;2](TW0[);+2[&WL[93GRX(P@)P!DXZG@<GDT`7:***`"BBB@!DT,=Q#)
M#-&DD4BE'1U!5E(P00>H-?(WQ8^'$G@77!-9H[:)>,3:N26,;8R8V/J.V>H]
M2#7UY6?K>B:?XBTBXTO5+9;BSG&'0DCH<@@CD$'G-`'PA7W#X(C>+P!X<CD1
MD=-+ME96&""(ER"*X'2?V>O"VG:Q'>W%W?7T$3ATM9RFQL=GPHW#VX]\CBO6
MU544*H`4#``'`%`"U\V?M(Z7=KXJTO5C$QLI+(6PD`.!(KNQ!/09#@CUP?2O
MI.JNHZ;8ZO9/9:C9P7=K)C=#/&'4XZ<&@#X*HK[/_P"%5^!O^A9L?^^3_C1_
MPJOP-_T+-C_WR?\`&@#XPHK[/_X57X&_Z%FQ_P"^3_C1_P`*K\#?]"S8_P#?
M)_QH`^,**^S_`/A5?@;_`*%FQ_[Y/^-'_"J_`W_0LV/_`'R?\:`/C"BOL_\`
MX57X&_Z%FQ_[Y/\`C1_PJOP-_P!"S8_]\G_&@#XPHK[/_P"%5^!O^A9L?^^3
M_C1_PJOP-_T+-C_WR?\`&@#XPHK[/_X57X&_Z%FQ_P"^3_C1_P`*K\#?]"S8
M_P#?)_QH`^,**^S_`/A5?@;_`*%FQ_[Y/^-'_"J_`W_0LV/_`'R?\:`/GSX$
M:7=WOQ0L;V&)FM[&.62>3!PH:-T49Z9);I['TKZSK/TC0M*T"T-KI&GVUE`3
MN9((PNX],G'4^YK0H`R/%5C/JG@_6]/M@#<75A/!$#T+-&RC]37PU-#);S20
MS1O'+&Q1T=2&5AP00>A%??E8&H>"/"VJZE_:-_X?TZYNR<M+);J2YZ?-_>_'
M-`'%?L_Z7=Z;\-VDNHFC%[>O<PA@03&410>?4H2/48->J4BJJ*%4`*!@`#@"
MEH`****`,S7?#VE>)M,DT[5[*.ZMW'1QRI]5/53[BOFGXA_!/5O"QFU+1A)J
M6CC+L%7,UNN?XE'W@!_$/0D@"OJFB@#X`KZ#_9MU;49XM:TJ22233K<1RQ!C
MD0NQ;('INQG'JON:[GQ-\%O!_B>_>^EM[BPN9&W2O8.L8D/<E2I7)ZD@`D\G
MO75>&?"VD>$-)73=&M1!!N+L2=SR,>[-U)[?08H`V:*\\^)WB>XT"?0Q9N1*
MMP;EU!QN51MVGV;<P_"NMNO$5C;^%W\0!]UF(!,G."V1\J^Q)('UJ%45VNQV
M2P-54J=5*ZG=+UO;\>AK45YQ\*O$5QK+:TEY(&N'N!=>WSC!`]AM'YUZ/1":
MG'F1&,PLL+6=&>Z_RN%%<;\2?$9T#PR\4$A2]O<PQ$'!5?XV'T!Q[%A5GP#X
ME'B3PW$\KDWMMB&XSU8@<-_P(<_7-'M%S\G4MX&K]5^M6]V]O^#Z7T]3J:**
M\F\>^-=2N]7D\+:'&\;LXAED4XDD<_PJ<\#GD]_8=2I44%=A@L%4QE3V<-.K
M;V2[GK-%>.:-\//%FF:K9:RT\#S1S(TT/VD^8R`C*EL8.0,=?2O8Z5.;ENK#
MQN%I8>25*HII]N@45\[6-GK7B/Q7=Z;8ZD\4IDE8&6=U4`$^F?Y5TWP^US7=
M.\:?\(UJ=Q-*C>9&T<S[_*=5+94YZ?+VXYK*.(NTFCTL1D3I4Y2C43E%<S6S
ML>QT45XMKGBS6O'>NC1/#ADBLBV05.PN!U=VZA1V'TX)P*UJ5%!>9YV!P$\7
M)V:48ZMO9(]IHKPW4_"/C7PO;?VLNI&9;?YW:VN78Q@=R&`R/4<\9SQ7HO@#
MQ:WBK1G-P`+^U(2?:,!LYVL/3.#QZ@U,*MY<LE9F^*ROV5'V]&HIPV;70ZVB
MN*^*<TMOX*D>&5XW\^,;D8@]?:O,[#0?$=YX5D\26FKN(K<NSH;AUD&S'*GH
M>YZCIQDTIUG&7*E<O!Y5'$4%6G444WRZKJ?0-%<'\+O$]YK^D75OJ$IFN;)U
M'G-U9&!QGU(*GGZ?C1^,5S/;:3IA@GDB)G8$QN5S\OM5.JO9\Z,8Y;/Z[]3F
M[.^_RN>E45\\36WBC0-%T_Q"FK3+;WGRH8KARR]P&!XYP?7I7M?@_5Y]=\)Z
M?J-SCSY482$#`+*Q4G'OMS^-*G6YW9JS-,?E3PM-58S4HWMIW_I&Y17E7QHN
M)H4T9(II$607`=58@,/W?!]>IKO_``M_R*&B_P#7A!_Z+6J52\W#L<]7!.GA
M*>)YOC;T[6-:BO+/'GBS4/"GCZUGLR'ADL(Q-;N3MD'F2?D?0_S'%=YX=\2:
M=XFT_P"UV$A.W`EB;AXSZ$?UZ&B-2+DX]4%?+ZU*A#$6O&2W[>3->BO$_A#<
M37/C*Z>>:25AI[@,[%CCS(^.:],\9:3J>M^'WL-*N([>>212TDDC(`HYZJ">
MH%*%7GAS)&F+R]8;%+#SGIIK;:YT%%?.%[IVNV'BI?#LNJ,;QIHH0ZW#^7F0
M*1SC./F&>*]=\!>%]9\-_P!H?VO?177VCR_*\N5WV[=V<[@,?>'3TJ:=9SE;
ME.C&Y53PM%5/;)MI-*VZ?]7.RHKS7XQ7,]MI.F&">2(F=@3&Y7/R^U8.B>`-
M?UC2+34X?$31+.@D52\F5_$&B55J;BE<FCEE.6&CB:M503;6S?Y'M%%-CW^6
MGF%3)@;BHP,]\>U>"^(5U35/B5>Z79WTD3S76R/=,RHO'MG'Y556IR):7N89
M?@/KDY1<N515[[GOE%>'>'M9\1>%O'5OH%_?23Q&Y2WEA>0R)AR,,N>1]X'M
M7N-.G44T3C\!+!RBG)24E=-=@HKP7Q%XGU;Q%XLGTN;5)--L/M#6X0[D1`&(
M&\+R22.<\`^@%=OX,\":QX>U9YIM;+6"IB**W<[9<YY96&!C.>,\GKUS$:W-
M*T5H=5?*5AZ*G6JI2:NE9Z_/N<MXJ@/C+XK'2(YA&(XS;)(>@*(SG/\`P+(K
MF%O-<O+.V\&A7_=WC!8"<'>3C:>V`VX_4DUZ'X5\.R:9\3KJ6>]^TS-#<3,P
MBV`L70'C)_OG\JZV#PII\7C>Y\0!?](>!<)CA7.59Q[E0!^9[U@J,IZ]WKZ'
ML2S2CA5&DES1C!..GVM5?YW/-?!49\*_%.71WE+HX>V+D8SP'4X^H`_&O;"0
MJDD@`<DGM7DFO:0US\85FAN3#(KVTV2FX9&U<=1QA17;^.YYXO"=U';R^4\X
M\HOC)"D$G'U`(_&M:7N1DNS/.S.*Q5:A*_O3C&_KW/*=5\6Z?K'Q"34]52:?
M2;-]L$,2*V]5^[D$@8+<G/;BE\-^*M.T'Q[)<Z<)H=%O7V21SJ%,2L>O!(PI
M/'^SGO7=?"[0;!?!L-[+!'/->2.[&1`VT*Q0`9_W<_C53XM:%8CPY#J,$$<$
M]O,$S&@7>K=0<>X!'X^M9<DU'VE_,]-8S"RQ#P'*^7X-]-.MK;WZGI0(9000
M0>01WKP:\G'AOXORW=^A,(OFF)=3PDF<,/7`;C_=_"O6_!GGKX7M(;B?SW@!
MB$FW!*CIGD]!@?A4'B_P58^+K>+S96MKN'(BN$4-P>H8<;A^(P?QSO5BZD4X
M[[GBY?B*>"Q%2E6UA).+:_,Z+[1"8%G\Z/R6`*R;AM(/0@^^14E?/_A[P^TG
MC:QTN6\9X('2YVE#M;#`E<9XSZU]`55*HYIMJQAF6!A@Y1C&?-=7VMIT/G?0
MUU<^,=1;0I_*U",3O'^[5]X!Y4!@1DBM[X4OIUQXJN9]1>1M:;<\#2MPQ.?,
M/KOQG\":UO!GAW[!X\FO?M7F;O.^3R\=3ZYJ'7/!D4OQ2MXM.O7L'N8C?;T3
M=Y<@8YV\CJ1GV)/;BN2,)1M+SV/I<1C*%9U,.W:\$^9+72]T^K7_``3U*^@>
MZT^YMXV"O+$R*Q[$@C->,_";4K?2_$MWI]Z##<72B*,N""'4G*'T)]QU&/K[
M:@8(H9MS`<G&,FO/?'G@&PU#S];@GDM;P%3)M4%7.0,XXP??-=-:,KJ<>AX.
M5XBDH5,)6=E4MJNC6WR.J\5ZC::9X7U">]9?+:!XPC8_>,RD!0#US_C7GGP6
MMI_-U:ZRPM\1QX[,W)_0?^A5R'A709O&6J"UNM2F18R.6!D.""3C)X^[7O.A
MZ'9>'M*CT^P1EA0DEG.6=CU8GUJ(-U9J=K)'7C(4LMPL\&I<TYV;TLDCF?BQ
M_P`B/+_U\1_SKS_PQX-\1^(O#X:TUA+?2I)&5[=YY,$@\G8!M/..]>G?$+3O
M[4\*O;>;Y69D;=MW=#Z9%'P]T[^R_"J6WF^;B9VW;=O4^F31.GSU==K"PN/>
M&RS]W;FYNJOT+7A'PK;^$M*:SAF:>61_,EF9=NX]!@<X`'N>]<C\:/\`D$:7
M_P!=V_\`0:].KA/B=I']KZ=81^?Y7ES,V=F[/'U%:58VI.,3BRW$N68PK5GJ
MV[OY,\LUF35HM'T&WU.XDFT=XA-;(B*F!G#*#CEAZG/WAZU[[H/]G?V#8_V2
M0;#R5\C!S\OOGG/KGG.:XO6?#UM/\(XH9FW2Z?;^?#*%P0RYS^!&1^O:M?X=
M:+/HWAF,/?M<Q7.)HXS'M$.1R!R<YZ_TY-9T8N$[=T=V:8BEB<)S)V<9M6MH
M_/UMW\SE/C9_S`_^WC_VG7H?A;_D4-%_Z\(/_1:UR_Q'\._\)%>:';_:OL_[
MR1-WE[_O&,9ZCIBNSTJQ_LS2+*P\SS/LL$<._;C=M4#..V<5<(OVLF<F*KTW
MEM"DG[R<G^+/&OC)_P`C?:?]>"?^C)*O^)/">J>"-4/B+PR[_8D.^2$$GRAW
M##^)/U'X9K8\<>$/^$H\:62?;OLVZT"9\G?T,C9^\*]((#*00"#P0>]0J/-*
M3?R.VIFGU?#X>$/>T?-%[-.W_!/$/@W_`,C?=_\`7@__`*,CKW"N1TWPK8:%
MX\:^T]1#'>6,H:W5<(C*\7*^@.>G;]*ZZM*$'"/*SSLXQ4,5B%6ALTCP_P`1
M_P#)<8?^O^S_`/08J]PKS:\\(?VK\59=2^W>5]GD@N?+\G=NV"/Y<[AC..N*
M])I48M.3?<TS6O3J4Z$8O6,$G]R/,?C1_P`@C2_^N[?^@UF>!/A]=^?I'B/[
M=#Y.1-Y.T[L<C&:Z;XG:1_:^G6$?G^5Y<S-G9NSQ]17F?_"$_P#40_\`(/\`
M]E6%56JN5KGL9?44\MC1C5Y'K?W;Z.Y]#UX)JD=Y-\7;F/3IQ!>&[/DR%0P5
MMO'!XKW6SMDLK*"UCQY<,:QK@8X`P./PKS'_`(1W_BZO]I?:O^7O?Y?E^W3.
M?Z5M7BY*/J>5DM:%&59M_9=M-_D<_P"!KRWG^(KS>)3*=4>0K$TF%"SYQA@!
MU[`=`>,=,>Z5Y+X]\)6]]X[TX6\YM9-2'[U@F[#J5&X#(Z@C\L]Z]2L8)K:Q
M@@GN6N98T"O,RX+D=R**"<;Q89S4I5U2Q$'9RC\/:VFG2USS[Q;\/]*\1:Y/
M)INJ6]KJY4//:L00^>C$#E21R3@YX..<G@]!\0:YX.UZ33XIFN8H9'CDM(V\
MV-R`>5`Z<\Y&#QSZ5?\`B!X7?0=6FU*/5)YWF82@R##@L2/O`^W8#TKM/`WP
M^L]+DBUFYN3>W#H3&&CVK'G@GJ<G&>OK6+C*53W59GL1Q%'#X%.O4]I!JR37
(7U[+\.A__]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>exhibit_2.htm
<TEXT>
<HTML>
<HEAD>
     <!-- Created by EDGAR Ease Plus (EDGAR Ease+) -->
     <!-- Project:        \\backup\office\EDGAR Filing\Nur Macroprinters Ltd\51277\a51277.eep -->
     <!-- Control Number: 51277                                                            -->
     <!-- Rev Number:     1                                                                -->
     <!-- Client Name:    Nur Macroprinters Ltd                                            -->
     <!-- Project Name:   6-K                                                              -->
     <!-- Firm Name:      Zadok-Keinan Ltd                                                 -->
     <TITLE>6-K</TITLE>
</HEAD>
<BODY>

<!-- MARKER FORMAT-SHEET="Scotch Rule Top-TNR2" FSL="Workstation" -->
<HR ALIGN=LEFT WIDTH=100% SIZE=4 NOSHADE STYLE="margin-top: -5px">
<HR ALIGN=LEFT WIDTH=100% SIZE=1 NOSHADE STYLE="margin-top: -10px">

<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U><B>Exhibit 2</B></U> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Head Sub 2 Left-TNR" FSL="Default" -->
<P ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U><B>VOTING
AGREEMENT</B></U> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Voting Agreement made as of January 23, 2005, among Dan Purjes (the "<B>Principal
Shareholder</B>"), NUR Macroprinters Ltd. (the "<B>Company</B>"). </FONT> </P>


<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Whereas</B>,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the Principal Shareholder and Company believe that it is in the best interest of the
parties to provide the Company with the power to make substantive decisions regarding the
voting of certain securities of the Company beneficially owned by the Principal
Shareholder; and </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Whereas</B>,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the Principal Shareholder is the record holder and beneficial owner of such number of the
ordinary shares, NIS 1.0 par value per share, of Company (the &#147;<B>Shares</B>&#148;)
and of warrants to purchase ordinary shares of the Company (the &#147;<B>Existing
Warrants</B>&#148;), all as detailed in <B><U>Exhibit A</U></B><U></U> attached hereto;
and </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Whereas</B>,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
in consideration for the Principal Shareholder&#146;s agreement to enter into this
Agreement, the Company will, subject to the Company&#146;s shareholders approval, grant to
the Principal Shareholder a 5-year warrant to purchase up to 3,000,000 ordinary shares of
the Company at an exercise price per share of $0.75 (the &#147;<B>New Warrants</B>&#148;). </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Now,
Therefore</B>, in consideration of the foregoing premises and of the mutual covenants and
agreements contained in this Agreement, the parties hereto, intending to be legally bound,
agree as follows: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Workstation" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;
          <B><U>Grant of New Warrants; Registration Rights</U></B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
consideration for the Principal Shareholder&#146;s agreement to grant the           Proxy
(as defined below) under the terms and subject to the conditions of this
          Agreement, the Company will grant to the Principal Shareholder the New Warrants
          in the form attached hereto as <B><U>Exhibit B</U></B><U></U>, subject to the
          approval of the Company&#146;s shareholders as provided in Section 7 below.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Principal Shareholder represents and warrants to the Company in connection           with
the grant of the New Warrants that: (i) he is an &#147;accredited           investor&#148;,
as that term is defined in Rule 501 of Regulation D under           Securities Act of
1933, as amended (the &#147;<B>Securities Act</B>&#148;) and           has such business
and financial experience as is required to protect its own           interests in
connection with the grant of the New Warrants; and (ii) he           understands,
acknowledges and agrees that the New Warrants and the ordinary           shares
underlying the New Warrants have not been registered under the Securities           Act
and may not be offered or sold in the United States or to US persons unless
          such shares are registered under the Securities Act and applicable state
          securities laws, or an exemption from the registration requirements of the
          Securities Act and such state securities laws is available.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;1.3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the approval of this Agreement by the Company&#146;s shareholders as
provided in Section 7 below, the Principal Shareholder shall be granted with
unlimited piggyback registration rights on registrations by the Company (other
than Form S-8 or any equivalent or successor form), with respect to the New
Warrants, the ordinary shares underlying the New Warrants and other Shares
(including Shares underlying the Existing Warrants) owned by the Principal
Shareholder and which are not registered for public sale under the Securities
Act, subject only to underwriters&#146; cutbacks, which will be on a pro-rata
basis among the Company&#146;s shareholders and as detailed in the Registration
Rights Agreement in the form attached hereto as <U><B>Exhibit C.</B></U> </FONT> </P></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Workstation" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;
          <B><U>Voting Rights</U></B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;2.1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Principal Shareholder represents and warrants to the Company that <U><B>Exhibit A
</B></U>details all of the ordinary shares of the Company, options, warrants and
securities convertible into, exchangeable or exercisable for, ordinary shares
of the Company that are beneficially owned on the date hereof, directly or
indirectly, by the Principal Shareholder or any of his affiliates. The term
&#147;affiliates&#148; shall mean any person or entity, directly or indirectly,
affiliated with such person or entity, or controlling, controlled by or under
common control with such person or entity. Any reference in this Agreement
hereinafter to term &#147;Principal Shareholder&#148; shall include also his
affiliates, and the Principal Shareholder represents and warrants to the
Company that he is authorized to execute the proxy described below in their
name and behalf. </FONT> </P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;2.2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Principal Shareholder hereby grants to the Company&#146;s Board of Directors or
a nominee appointed by it (the representative in fact will hereinafter be
referred as the &#147;<B>Representative</B>&#148;), subject to the provisions
of Section 2.4 hereof, an irrevocable proxy in the form attached hereto as <U><B>Exhibit
D</B></U> (the &#147;<B>Proxy</B>&#148;), to vote all the Shares and all the
ordinary share that will be issued to the Principal Shareholder upon exercise
of the New Warrant and/or the Existing Warrants (collectively, the &#147;<B>Warrant
Shares</B>&#148;), or any portion thereof. The ordinary shares subject to the
Proxy will be referred to as the &#147;<B>Proxy Shares</B>&#148;. The Principal
Shareholder hereby assign to the Representative all voting rights that he
otherwise might have had arising out of the ownership of the Proxy Shares,
whether by operation of law or agreement. </FONT> </P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
avoidance of doubt, the term &#147;Proxy Shares&#148; shall also include any
          securities which may be issued with respect to any Proxy Shares due to or in
          connection with any event of share combination or subdivision, stock splits,
          stock dividends, bonus shares or any other reclassification, reorganization or
          recapitalization of the Company&#146;s share capital and the like, and any
other           shares which may be subsequently purchased by any of the Principal
Shareholder.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Representative will vote the Proxy Shares in any meeting or actions of the
          shareholders and with respect to any matter submitted to shareholder with the
          majority of votes of the other shareholders of the Company.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company hereby agrees to give any and all notices to any entity and to make
          approximate, complete and necessary disclosures under applicable laws,
including           without limitations for the purposes of proxy statements, relating to
grant of           the Proxy to the Representative to vote the Proxy Shares.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Workstation" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;
          <B><U>Term of Proxy</U></B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Proxy shall become effective on the date of this Agreement and shall           terminate
when the Principal Shareholder is no longer the record holder or           beneficial
owner of the Shares, the New Warrant, the Existing Warrants and/or           the Warrant
Shares.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the above, the execution of this Agreement and the grant to the           Principal
Shareholder of the New Warrants by the Company are subject to the           approval by
the Company&#146;s shareholders as provided in Section 7 below. In           the event
that such approval is denied or the Company fails to grant and issue           the New
Warrants to the Principal Shareholder within seven (7) days from the           date on
which the Company&#146;s shareholders approve such grant and issuance,           then
this Agreement and the Proxy granted hereunder will immediately terminate
          without the need for any further action by any party.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Workstation" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;
          <B><U>Limitation on Transfer</U></B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From
the date hereof and until the expiration or termination of this Agreement,           the
Principal Shareholder may not transfer, sell, assign, pledge, hypothecate,
          give, create a security interest in or lien on, place in trust (voting or
          otherwise), assign or in any other way encumber or dispose of, directly or
          indirectly and whether or not by operation of law or for value, or commit to do
          any of the foregoing (collectively, &#147;<B>Transfer</B>&#148;), any Proxy
          Share, New Warrant or Existing Warrant (the &#147;<B>Principal Shareholder
          Securities</B>&#148;), unless permitted under the terms of this Agreement.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
provisions of Section 4.1 shall not prevent the Principal Shareholder from:  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 2- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=10%></TD>
<TD WIDTH=90%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.2.1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pledging,
hypothecating, creating a security interest in or lien on, or commit           to do any
of the foregoing with respect to a Principal Shareholder Security, so           long as
the pledgee, lien or security interest holder agrees to be bound by the           terms
of this Agreement and the Principal Shareholder Securities so Transferred
          continue to be subject to the Proxy; and  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 2- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=10%></TD>
<TD WIDTH=90%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.2.2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Making
any Transfer of Principal Shareholder Securities to the Principal           Shareholder&#146;s
ancestors, siblings, descendants, immediate family members or           a spouse, to
trusts for the benefit of such persons or for the benefit of the           Principal
Shareholder or an entity controlled by the Principal Shareholder,           provided,
however, that such transferee will unconditionally and irrevocably           agree in
writing to be bound by and become a party to this Agreement and the           Principal
Shareholder Securities so Transferred continue to be subject to the           Proxy.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2>2</font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Workstation" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;
          <B><U>Permitted Transfers</U></B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the restrictions on Transfer detailed in Section 4 above, the           Principal
Shareholder will be entitled to Transfer Principal Shareholder           Securities:  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 2- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=10%></TD>
<TD WIDTH=90%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.1.1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
number of Principal Shareholder Securities in the open market through a           stock
broker or dealer for the sole purpose of effecting an immediate sale of           the
Principal Shareholder Securities and upon such sale the securities sold will           no
longer be subject to the Proxy or this Agreement;  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 2- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=10%></TD>
<TD WIDTH=90%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.1.2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
a person or entity that is not affiliated, directly or indirectly, with the
          Principal Shareholder (and the same shall be reasonably acknowledged to the
          Company by such person or entity in writing) through a private transaction,
          provided, however, that during the period ending on the earlier of (a) twelve
          (12) months following the date hereof or (b) immediately following the general
          meeting of the Company&#146;s shareholders which would be convened for electing
          directors appointed or recommended by a new investor to the Company&#146;s
board           of directors (the &#147;<B>Restricted Period</B>&#148;), as a
condition           to a Transfer of Principal Shareholder Securities under this Section
5.1.2, the           transferee will grant to the Representative a proxy in the form of
<B><U>Exhibit           D</U></B> with respect to the transferred Principal
Shareholder           Securities, which proxy will be effective from the date of Transfer
and until           the end of the Restricted Period after which such transferred
Principal           Shareholder Securities and transferee shall no longer be bound by the
Proxy or           this Agreement, and provided further, that the Transfer by the
transferee will           be subject to the conditions of this Section 5.1.2 during the
Restricted Period.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 2- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=10%></TD>
<TD WIDTH=90%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.1.3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
Electronics For Imaging, Inc. (&#147;<B>EFI</B>&#148;); provided, however,           that
such Transfer shall only be made through a private transaction, and           provided
further, that EFI reasonably acknowledges to the Company in writing           that it is
not affiliated, directly or indirectly, with the Principal           Shareholder. For
avoidance of doubt any Transfer of the Principal Shareholder           Securities to EFI
shall not be subject to the terms and provisions of the Proxy           or this
Agreement.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Workstation" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;
          <B><U>Indemnity</U></B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company hereby agrees to indemnify and defend and hold harmless Principal Shareholder
from and against any and all claims, demands and actions, and any liabilities, damages,
or expenses resulting therefrom, including court costs and reasonable attorneys&#146; fees,
arising or resulting from the proxy given to the Company or its Representative or the
Company or its Representative voting any and all Proxy Shares in respect of which the
Company or its Representative has received a proxy pursuant to this Agreement.  </FONT></P>


<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;<U><B>Shareholder Approval</B></U> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will seek the approval of its shareholders for grant and issuance of the New
Warrants, execution and performance of this Agreement and Registration Rights Agreement
(attached as <B><U>Exhibit </U></B><U></U>C hereto) at the next succeeding meeting of the
shareholders immediately following the execution of this Agreement, solicited by way of
proxy or otherwise, but no later than ninety (90) days from the date hereof.  </FONT></P>


<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;<U><B>Miscellaneous</B></U> </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
All notices, advices and communications to be given or otherwise           made to any
party to this Agreement shall be deemed to be sufficient if           contained in a
written instrument delivered in person or by telecopier or duly           sent by first
class registered or certified mail, return receipt requested,           postage prepaid,
or by overnight courier, addressed to such party at the address           set forth below
or at such other address as may hereafter be designated in           writing by the
addressee to the addressee:  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2>3</font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para Flush Lv 2-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
if to the Principal Shareholder, to:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 2-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Dan Purjes <BR>
830 Third Avenue, 14th Floor <BR>
New York, NY 10022 <BR>
United States <BR>
Facsimile: +1 212 581 5193 <BR>
dan@rockwoodgroup.com </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 2-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
if to the Company, to:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 2-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
NUR Macroprinters Ltd. <BR>
12 Abba Hillel Silver Street<BR>
P.O. Box 1281 <BR>
Lod 71111 <BR>
Israel<BR>
Facsimile: +972-8-9218918 <BR>
e-mail address: cfo@nur.com</FONT></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;or
to such other  address as the party to whom  notice is to be given may have  furnished
 to the other parties hereto in writing in accordance herewith. Any such notice or
communication shall be deemed to have been delivered and received (i) in the case of
personal delivery, delivery by facsimile, on the date of such delivery, (ii) in the case
of nationally-recognized overnight courier, two (2) business day after the date when sent
and (iii) in the case of mailing, on the fifth business day following that on which the
piece of mail containing such communication is posted. As used herein, &#147;business day&#148; shall
mean any day other than a day on which banking institutions in the State of New York are
legally closed for business.  </FONT>
</TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;8.2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement</U>. This Agreement constitutes the entire agreement between the parties
hereto pertaining to the transactions contemplated hereby and embodies all
terms binding upon the parties in respect thereof and supersedes all prior
agreements, understandings and negotiations whether written or oral. Neither
party hereto shall be liable or bound in any manner by prior or
contemporaneous, express or implied, representation, warranty, statement,
promise, covenant or agreement pertaining to said transactions made by, or on
behalf of, either of them, unless same is expressly and specifically set forth
or referred to herein. </FONT> </P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;8.3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendments,
Waivers, Discharge and Consents</U>. No amendment, change or modification of this
Agreement or any of the provisions, terms or conditions hereof, no waiver of a
right, remedy, privilege or power, or discharge of an obligation or liability,
conferred upon, vested in, or imposed on either party under, or pursuant to,
this Agreement, and no consent to any act or omission pertaining hereto, shall
come into operation and be effective, unless duly embodied in a written
instrument signed by, or on behalf of, the party against whom such amendment,
change, modification, waiver, discharge or consent is asserted or sought. No
failure to exercise, and no delay in exercising, any right, remedy, privilege
or power under or pursuant to this Agreement shall operate as a waiver thereof;
nor shall any single or partial exercise of any such right, remedy, privilege
or power preclude any other or further exercise thereof or the exercise of any
other right, remedy, privilege or power; nor shall a waiver in any one instance
be deemed or construed as a waiver in any other, past or future, instance. </FONT> </P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;8.4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Further
Assurances</U>. The parties to this Agreement shall do and perform, or cause to be
done or performed, all such further acts and things, and shall execute and
deliver all such other instruments and documents, as the other party hereto may
reasonably request in order to carry out the intent and accomplish the purposes
of this Agreement and the consummation of the transactions contemplated hereby. </FONT> </P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;8.5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law; Jurisdiction</U>. This Agreement shall be governed by, and construed in
accordance with the laws of the State of New York without giving effect to the
principles of conflicts of laws, and any original suit, action or other legal
proceeding by either party hereto against the other party are hereby submitted
to the sole and exclusive jurisdiction of the competent court sitting in the
County of New York, State of New York. </FONT> </P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2>4</font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;8.6. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Execution
in Counterparts</U>. This Agreement may be executed in two or more counterparts,
each of which shall be deemed to be an original and each of which together
shall be deemed to be one and the same instrument. </FONT> </P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=5%></TD>
<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;8.7. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fees
and Expenses</U>. Each party shall bear its own costs and expenses, including
attorney fees, relating to the drafting, review and negotiation of this
Agreement. </FONT> </P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>In
Witness Whereof</B>, Company and the Principal Shareholders have executed this Agreement
and have set forth as of the date first above written. </FONT></P>




<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Workstation" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>NUR Macroprinters Ltd.</B><BR><BR>
<BR>BY: /S/ David Amir<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Name: David Amir<BR>Title: President and Chief Executive Officer</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=45%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
</TR>
</TABLE>
<BR>



<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Workstation" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR>
<BR>BY: /S/ David Seligman <BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Name: David Seligman <BR>Title: Chief Financial Officer</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=45%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
</TR>
</TABLE>
<BR>



<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Workstation" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR><BR>
<BR>/S/ Dan Purjes<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
<B>Dan Purjes</B> </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=45%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2>5</font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Exhibit A</U> </FONT> </H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Default" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Shares and Existing
Warrants</U> </FONT> </H1>


<TABLE CELLPADDING=3 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Name</FONT><HR WIDTH="95%" SIZE="1" COLOR="BLACK" NOSHADE ALIGN="LEFT"></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Record<BR>
Shares (1)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Beneficial Shares<BR>
Owned (1)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Existing<BR>
Warrants (2)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Total</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=44% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dan Purjes</FONT></TD>
     <TD WIDTH=15% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>349,216&nbsp;</FONT></TD>
     <TD WIDTH=15% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=15% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>30,000&nbsp;</FONT></TD>
     <TD WIDTH=11% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dan and Edna Purjes</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6,521,394&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1,028,300&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>331,731&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6,853,125&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>X Securities Ltd.</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>81,897&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>132,273&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Y Securities Management, Ltd.</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>80,645&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>14,423&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Total</B> </FONT></TD></TR>
</TABLE>





<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)
          ordinary shares, NIS 1.0 nominal value per share, of the Company  </FONT></P>


<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)
          Warrants to purchase ordinary shares, NIS 1.0 nominal value per share, of the
          Company  </FONT></P>


<p align=center>
<font size=2>6</font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Exhibit B</U> </FONT> </H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Default" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Form of New Warrants</U> </FONT> </H1>

<p align=center>
<font size=2>7</font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>




<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>WARRANT</U> </FONT> </H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
WARRANT AND THE ORDINARY SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT (THE
&#147;SECURITIES&#148;) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, (THE &#147;SECURITIES ACT&#148;) OR QUALIFIED UNDER ANY STATE OR FOREIGN
SECURITIES LAW, AND THE WARRANT AND THE ORDINARY SHARES ISSUABLE UPON EXERCISE MAY NOT BE
SOLD, TRANSFERRED, PLEDGED, ASSIGNED OR HYPOTHECATED, UNLESS THERE IS AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT COVERING THIS WARRANT AND/OR SUCH
SECURITIES, OR THE HOLDER RECEIVES AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
STATING THAT SUCH SALE, TRANSFER, PLEDGE, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE
REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE SECURITIES ACT AND THE
QUALIFICATION REQUIREMENTS UNDER APPLICABLE LAW OR UNLESS SOLD PURSUANT TO RULE 144 OR
RULE 144A OF THE SECURITIES ACT. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
WARRANT IS SUBJECT TO TRANSFER RESTRICTIONS CONTAINED IN A VOTING AGREEMENT, A COPY OF
SUCH AGREEMENT MAY BE OBTAINED WITHOUT CHARGE UPON WRITTEN REQUEST TO THE COMPANY AT ITS
PRINCIPAL PLACE OF BUSINESS. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>to purchase </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Ordinary Shares </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>of </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NUR Macroprinters Ltd. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>at an exercise price of
$0.75 per share </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>VOID AFTER 17:00 p.m.
(prevailing Tel Aviv time) </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On the Expiration Date
(as hereinafter defined) </FONT></P>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="50%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>No. W-___</B></FONT></TD>
     <TD WIDTH="50%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Date: ________, 2005</B></FONT></TD></TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NUR
Macroprinters Ltd., an Israeli company with its principal offices at 12 Abba Hillel Silver
Street, Lod, Israel (the &#147;<B>Company</B>&#148;), hereby grants to Dan Purjes (the
&#147;<B>Holder</B>&#148;), the right to purchase, subject to the terms and conditions
hereof, up to three million (3,000,000) ordinary shares, par value NIS 1.00 per share, of
the Company <B>(&#147;Ordinary Shares</B>&#148;), exercisable at any time from time to
time, on or after the date hereof (the &#147;<B>Effective Date</B>&#148;), and until the
fifth anniversary of the Effective Date (the &#147;<B>Expiration Date</B>&#148;). </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><B>Definitions</B></U>.
In this Warrant the terms below shall have the following meaning, unless
otherwise specifically provided or required by the context: </FONT> </P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Warrant
Shares</B>&#148; means the Ordinary Shares purchasable           hereunder or any other
securities which, in accordance with the provisions           hereof, may be issued by
the Company in substitution therefor.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          &#147;<B>Exercise
Price</B>&#148; means the price of seventy-five cents ($0.75)           payable hereunder
for each Warrant Share, as adjusted in the manner set forth           hereinafter.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          &#147;<B>Warrants</B>&#148; means
this Warrant and all warrants hereafter issued           in exchange or substitution for
this Warrant.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Warrant
Period; Exercise Of Warrant</U></B><U></U>.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          This
Warrant may be exercised in whole at any time, or in part from time to           time,
beginning on the Effective Date until the Expiration Date (the           &#147;<B>Warrant
Period</B>&#148;), by the surrender of this Warrant (with a           duly executed
exercise form in the form attached hereto as <B><U>Exhibit           A</U></B><U></U>),
at the principal office of the Company, set forth above,           together with proper
payment of the Exercise Price multiplied by the number of           Warrant Shares for
which the Warrant is being exercised. Payment for Warrant           Shares shall be made
by certified or official bank check or checks, payable to           the order of the
Company or by wire transfer to an account to be designated in           writing by the
Company. Payments shall be made in United States dollars.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          The
Holder of the Warrant, by its acceptance hereof, covenants and agrees that           this
Warrant is being acquired as an investment and not with a view to the
          distribution hereof and such Holder further covenants and agrees that it will
          not sell, transfer, pledge, assign, or hypothecate the Warrant or the Warrant
          Shares unless they are exempt from the registration requirements of the
          Securities Act or there is an effective registration statement under the
          Securities Act of 1933 covering the Warrant or the Warrant Shares, or the
Holder           of the Warrant and/or the Warrant Shares receives an opinion of counsel
          satisfactory to the Company stating that such sale, transfer, pledge,
          assignment, or hypothecation is exempt from the registration and prospectus
          delivery requirements of the Securities Act of 1933 and the qualification
          requirements under applicable law.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          If
this Warrant should be exercised in part, the Company shall, upon surrender           of
this Warrant for cancellation, execute and deliver a new Warrant evidencing           the
rights of the Holder to purchase the remainder of the Warrant Shares
          purchasable hereunder. The Company shall pay any and all expenses, taxes and
          other charges that may be payable in connection with the issuance of the
Warrant           Shares and the preparation and delivery of share certificates pursuant
to this           Section 2 in the name of the Holder (including without limitation the
applicable           stamp duty), and to the extent required, the execution and delivery
of a new           Warrant, provided, however, that the Company shall only be required to
pay taxes           which are due as a direct result of the issuance of the Warrant
Shares or other           securities, properties or rights underlying such Warrants (such
as the           applicable stamp duty), and will not be required to pay any tax which
may be (i)           due as a result of the specific identity of the Holder or (ii)
payable in           respect of any transfer involved in the issuance and delivery of any
such           certificates in a name other than that of the Holder and the Company shall
not           be required to issue or deliver such certificates unless or until the
person or           persons requesting the issuance thereof shall have paid to the
Company the           amount of such tax or shall have established to the satisfaction of
the Company           that such tax has been paid.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         No
fractions of Ordinary Shares shall be issued in connection with the exercise           of
this Warrant, and the number of Ordinary Shares issued shall be rounded down           to
the nearest whole number.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Upon
the exercise of the Warrant in whole or in part for Ordinary Shares, the
          Company shall promptly deliver to the Holder an irrevocable letter of
          instructions to the Company&#146;s transfer agent to issue as soon as is
          reasonably practicable to the Holder share certificates reflecting the Warrant
          Shares exercised thereby, together with any and all other documents required
for           the issuance of such certificates by the transfer agent.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Reservation
of Shares</U></B><U></U>. The Company covenants that: (i) at           all times during
the Warrant Period it shall have in reserve, and will keep           available solely for
issuance or delivery upon exercise of the Warrant, such           number of Ordinary
Shares as shall be issuable upon the exercise hereof, and (b)           upon exercise of
the Warrant and payment of the Exercise Price hereunder, the           Warrant Shares
issuable upon such exercise will be validly issued, fully paid,           non assessable,
free and clear from any lien, encumbrance, pledge or any other           third party
right and not subject to any preemptive rights.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Adjustments
to Exercise Price And Number Of Securities</U></B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Subdivision
and Combination</U>. In case the Company shall at any time           subdivide or combine
the outstanding Ordinary Shares, the Exercise Price shall           forthwith be
proportionately decreased in the case of subdivision or increased           in the case
of combination.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Dividends and Distributions</U>. In case the Company shall pay a           dividend on,
or make a distribution of, Ordinary Shares or of the Company&#146;s           share
capital convertible into Ordinary Shares, the Exercise Price shall           forthwith be
proportionately decreased. An adjustment pursuant to this Section           4.2 shall be
made as of the record date for the subject stock dividend or           distribution.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Adjustment
in Number of Securities</U>. Upon each adjustment of the Exercise           Price
pursuant to the provisions of this Section 4, the number of Ordinary           Shares
issuable upon the exercise of each Warrant shall be adjusted to the           nearest
full amount by multiplying a number equal to the Exercise Price in           effect
immediately prior to such adjustment by the number of Ordinary Shares           issuable
upon exercise of the Warrants immediately prior to such adjustment and           dividing
the product so obtained by the adjusted Exercise Price.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Adjustment of Exercise Price in Certain Cases</U>. No adjustment of the
          Exercise Price shall be made if the amount of said adjustment shall be less
than           2 cents ($0.02) per Ordinary Share, provided, however, that in such case
any           adjustment that would otherwise be required then to be made shall be
carried           forward and shall be made at the time of and together with the next
subsequent           adjustment which, together with any adjustment so carried forward,
shall amount           to at least 2 cents ($0.02) per Ordinary Share.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Merger
or Consolidation</U>. In case of any consolidation of the Company with           or
merger of the Company with, or merger of the Company into (other than a           merger
which does not result in any reclassification or change of the           outstanding
Ordinary Shares), the Company shall cause the corporation formed by           such
consolidation or merger or surviving such merger to execute and deliver to           the
Holder a supplemental warrant agreement providing that the Holder of the
          Warrant then outstanding or to be outstanding shall have the right thereafter
          (until the expiration of such Warrant) to receive, upon exercise of such
          Warrant, the kind and amount of shares of stock and other securities and
          property receivable upon such consolidation or merger, by a holder of the
number           of Ordinary Shares of the Company for which such Warrant might have been
          exercised immediately prior to such consolidation or merger. Such supplemental
          warrant agreement shall provide for adjustments which shall be identical to the
          adjustments provided in this Section 4. The provisions of this Section 4.5
shall           similarly apply to successive consolidations or mergers.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Notices
to Warrant Holders</U></B><U></U>. Nothing contained in this           Warrant shall be
construed as conferring upon the Holder the right to vote or to           consent or to
receive notice as a shareholder in respect of any meetings of           shareholders for
the election of directors or any other matter, or as having any           rights
whatsoever as a shareholder of the Company. If, however, at any time           prior to
the Expiration Date, any of the following events shall occur:  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          the
Company shall take a record of the holders of its Ordinary Shares for the
          purpose of entitling them to receive a dividend or distribution payable
          otherwise than in cash, or a cash dividend or distribution payable otherwise
          than out of current or retained earnings, as indicated by the accounting
          treatment of such dividend or distribution on the books of the Company;  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         the
Company shall offer to all the holders of its Ordinary Shares any additional
          shares of the share capital of the Company or securities convertible into or
          exchangeable for shares of the share capital of the Company, or any option,
          right or warrant to subscribe therefor; or   </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
dissolution, liquidation or           winding up of the Company (other than in connection
with a consolidation or           merger) or a sale of all or substantially all of its
property, assets and           business as an entirety shall be proposed; </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;then,
in any one or more of said events, the Company shall give to the Holder written notice of
such event at least fifteen (15) days prior to the date fixed as a record date or the
date of closing the transfer books for the determination of the shareholders entitled to
such dividend, distribution, convertible or exchangeable securities or subscription
rights, or entitled to vote on such proposed dissolution, liquidation, winding up or
sale.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Transferability</U></B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  The
Holder may, subject to applicable securities laws and the Voting Agreement           of
January 23, 2005, sell, transfer, assign, encumber, pledge or otherwise           dispose
or undertake to dispose of the Warrant.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Unless
registered or an exemption from registration applies, the Warrant Shares           issued
upon exercise of the Warrants shall be subject to a stop transfer order           and the
certificate or certificates evidencing such Warrant Shares shall bear           legend
substantially similar to the following:  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933 (THE &#147;SECURITIES ACT&#148;). THE SHARES HAVE BEEN ACQUIRED
FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT FOR THESE SHARES UNDER THE SECURITIES ACT, OR AN OPINION
OF COUNSEL FOR THE HOLDER OF THE SHARES SATISFACTORY TO NUR MACROPRINTERS, THAT
REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OR UNLESS SOLD PURSUANT TO RULE 144
OR RULE 144A OF THE SECURITIES ACT.&#148; </FONT></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Upon
request of a holder of a certificate with the legend required by Section           6.2
hereof, the Company shall issue to such holder a new certificate therefor           free
of any transfer legend, if, with such request, the Company shall have           received
an opinion of counsel (either external counsel or counsel employed by           the
holder) reasonably satisfactory to the Company in form and substance to the
          effect that any transfer by such holder of the shares evidenced by such
          certificate will not violate the Securities Act and any applicable state
          securities laws.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Loss,
etc. of Warrant</U></B><U></U>. Upon receipt of evidence           satisfactory to the
Company of the loss, theft, destruction or mutilation of           this Warrant, and of
indemnity reasonably satisfactory to the Company, if lost,           stolen or destroyed,
and upon surrender and cancellation of this Warrant, if           mutilated, and upon
reimbursement of the Company&#146;s reasonable direct           expenses, the Company
shall execute and deliver to the Holder a new Warrant of           like date, tenor and
denomination.  </FONT></P>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Headings</U></B><U></U>.
The headings of this Warrant have been inserted           as a matter of convenience and
shall not affect the construction hereof.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Notices</U></B><U></U>.
Unless otherwise provided, any notice required or           permitted under this Warrant
shall be given in writing and shall be deemed           effectively given upon personal
delivery to the party to be notified or seven           (7) days after deposit with the
post authority, for dispatch by registered or           certified mail, postage prepaid
and addressed to the Holder at the address set           forth in the Company&#146;s
books and to the Company at the address of its           principal offices set forth
above, or when given by telecopier or other form of           rapid written
communication, provided that confirming copies are sent by such           airmail.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Governing
Law</U></B><U></U>. This Warrant shall be governed by and           construed and
enforced in accordance with the laws of the State of New York           (regardless of
the laws that might otherwise govern under applicable Israel           principles of
conflicts of law). Any dispute arising out of or in connection           with this
Warrant is hereby submitted to the sole and exclusive jurisdiction of           the
competent courts located in the County of New York, State of New York.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Entire
Agreement; Amendment and Waiver</U></B><U></U>. This Warrant and           the Exhibit
hereto constitute the full and entire understanding and agreement           between the
parties with regard to the subject matters hereof and thereof. Any           term of this
Warrant may be amended and the observance of any term hereof may be           waived
(either prospectively or retroactively and either generally or in a           particular
instance) only with the written consent of both the Holder and the           Company.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>In
Witness Whereof</B>, the Company has caused this Warrant to be executed as of the date
first written above. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Default" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NUR Macroprinters Ltd. </FONT></H1>




<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By:</FONT></TD>
     <TD ><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By:</FONT></TD>
     <TD WIDTH="95%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
</TABLE>
<BR>

<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Agreed and Accepted:<BR><BR>Dan Purjes </FONT></H1>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By:</FONT></TD>
     <TD WIDTH="95%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
</TABLE>


<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR"  -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exhibit A</U> </FONT></H1>

<P align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Warrant Exercise Form</FONT></P>

<P align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>_________________, 200_</FONT></P>



<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NUR Macroprinters Ltd.<BR>
12 Abba Hillel Silver Street <BR>
P.O. Box 1281<BR>
Lod 71111<BR>
Israel
</FONT></P>

<!-- MARKER FORMAT-SHEET="Para Hang Lv 0-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Re:  </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exercise
of Warrant</U> </FONT></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dear Sirs: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         The
undersigned hereby irrevocably elects to exercise the attached Warrant No.
          W-___ to the extent of ___________________ Ordinary Shares of NUR Macroprinters
          Ltd., all in accordance with Section 2.1 of the Warrant.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         Payment
to the Company of the total Exercise Price for such shares has been made
          simultaneously with the delivery of this exercise of the Warrant.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         The
undersigned requests that certificates for such Ordinary Shares be           registered
in the name of ____________________ whose address is           ____________________ and
that such certificates be delivered to such person           whose address is
_____________________________.  </FONT></P>


<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dan Purjes </FONT></H1>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By:</FONT></TD>
     <TD WIDTH="95%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exhibit C</U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Form of Registration
Rights Agreement </U></FONT></H1>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>REGISTRATION RIGHTS
AGREEMENT</U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Registration Rights Agreement (this &#147;<B>Agreement</B>&#148;) is made as of January
23, 2005 by and among NUR Macroprinters Ltd., a company organized under the laws of the
State of Israel, registered under number 52-003986-8, with its offices at 12 Abba Hillel
Silver Street, Lod, Israel (the &#147;<B>Company</B>&#148;) and Dan Purjes with his
address at 830 Third Avenue, 14th Floor, New York, NY 10022, United States (the
&#147;<B>Holder</B>&#148;). </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;<B>Whereas,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>
in consideration for the Holder&#146;s agreement to enter into the Voting Agreement of
January 23, 2005 (the &#147;<B>Voting Agreement</B>&#148;), the Company will, subject to
the Company&#146;s shareholders approval, grant to the Holder five-year warrants (the
&#147;<B>Warrants</B>&#148;) to purchase up to 3,000,000 ordinary shares of the Company
(the &#147;<B>Warrant Share</B>&#148;) at an exercise price per share of $0.75; and  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;<B>Whereas,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>
the Company undertakes, subject to its shareholder approval, to register the Warrants and
the Warrant Shares underlying the Warrants, on the terms described in this Agreement.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Now,
Therefore</B>, in consideration of the foregoing, the parties agree as follows: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Definitions</U></B><U></U>.
As used herein, the following terms have the           following meanings, unless the
context specifically requires otherwise:  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         &#147;<B>Commission</B>&#148; means
the United States Securities and Exchange           Commission.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          &#147;<B>Effective
Date</B>&#148; means the date on which the Company&#146;s           shareholders approve
the grant of the Warrants to the Holder and the terms of           this Agreement, which
approval shall be sought at the next succeeding meeting of           the shareholders
immediately following the execution of this Agreement,           solicited by way of
proxy or otherwise, but no later than ninety (90) days from           the date hereof.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         &#147;<B>Form
F-3</B>&#148; means such form under the Securities Act as in           effect on the date
hereof or substantially similar thereto and available to the           Company or any
registration form under the Securities Act subsequently adopted           by the
Commission, which permits inclusion or incorporation of substantial           information
by reference to other documents filed by the Company with the           Commission.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         &#147;<B>Register</B>&#148;,
&#147;<B>registered</B>&#148;, and           &#147;<B>registration</B>&#148; means a
registration effected by filing a           registration statement in compliance with the
Securities Act and the declaration           or ordering by the Commission of
effectiveness of such registration statement,           or the equivalent actions under
the laws of another jurisdiction.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;       &#147;<B>Registrable
Shares</B>&#148; means the Warrants granted to the Holder           in accordance with
the provisions of the Voting Agreement, any Warrant Shares           issuable upon
exercise of the Warrants, any existing warrants to purchase           ordinary shares,
NIS 1.0 par value per share, of the Company and any other           ordinary shares, NIS
1.0 par value per share, of the Company owned by the           Holder.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;        &#147;<B>Securities
Act</B>&#148; means the United States Securities Act of           1933, as amended, or
any similar federal statute, and the rules and regulations           of the Commission
thereunder, all as the same shall be in effect at the time.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Incidental
Registration</U></B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;       If
the Company proposes, at any time after the Effective Date, to register any           of
its securities (other than a registration statement on Form S-8 or any
          equivalent or successor form), for its own account or for the account of any
          other person, it shall give notice to the Holder of such intention. Upon the
          written request of the Holder, given within twenty (20) days after receipt of
          any such notice, the Company shall include in such registration all of the
          Registrable Shares indicated in such request, so as to permit the disposition
of           the shares so registered in the manner requested by the Holder.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;        Notwithstanding
any other provision of this Section 2, with respect to an           underwritten public
offering by the Company, if the managing underwriter advises           the Company in
writing that marketing or other factors require a limitation of           the number of
shares to be underwritten, then there shall be excluded from such           registration
and underwriting to the extent necessary to satisfy such           limitation, shares
held by the Holder and by other shareholders of the Company           who are entitled to
have their shares included in such registration, pro rata           among them to the
extent necessary to satisfy such limitation. To the extent           Registrable Shares
are included in such underwriting, the Holder shall agree not           to sell their
Registrable Shares included in the registration statement for such           period, not
to exceed 180 days, as may be required by the managing underwriter,           and the
Company shall keep effective and current such registration statement for           such
period as may be required to enable the Holder to complete the distribution           and
resale of their Registrable Shares; provided, however, that each key officer
          and director of the Company and each person who, at the time of the proposed
          filing of such public offering, beneficially owns 1% or more of the outstanding
          share capital of the Company, on a fully-converted, fully-diluted basis, shall
          enter into the same agreement. Notwithstanding the provisions of this Section
2,           the Company shall have the right at any time after it shall have given
notice to           the Holder, to elect not to file any such proposed registration
statement.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;       The
Company represents as at the date hereof that it satisfies the Registrant
          Requirements (as defined in the general instructions for Form F-3) for the use
          of Form F-3 for the registration of the resale of securities under the
          Securities Act.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Termination
Of Registration Rights</U></B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;        The
right of the Holder to request registration pursuant to Section 2 shall
          terminate upon earlier of such date: (i) that all Registrable Shares held,
          issuable or entitled to be held upon exercise by the Holder (or an affiliate of
          Holder) may be sold under Rule 144(k) (or any successor rule) in any 90 day
          period and (ii) that all Registrable Shares have been registered hereunder and
          sold in a public offering.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Expenses</U></B><U></U>.
All expenses incurred in connection with any           registration under Section 2 shall
be borne by the Company, other than the           Holder&#146;s pro rata share of
underwriters&#146; fees and discounts payable to           any underwriter and fees, and
costs of legal counsel for the Holder.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Indemnities</U></B><U></U>.
If any Registrable Shares are included in a           registration statement pursuant to
this Agreement:  </FONT></P>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         The
Company will indemnify and hold harmless, to the fullest extent permitted by
          law, the Holder, any underwriter (as defined in the Securities Act) for the
          Holder, and each person, if any, who controls the Holder or such underwriter
          (collectively and individually referred to as the &#147;<B>Indemnified
          Party</B>&#148;), from and against any and all losses, damages, claims,
          liabilities, joint or several, costs, and expenses (including any amounts paid
          in any settlement effected with the Company&#146;s consent, which consent will
          not be unreasonably withheld) to which such Indemnified Party may become
subject           under applicable law or otherwise, insofar as such losses, damages,
claims,           liabilities (or actions or proceedings in respect thereof), costs, or
expenses           arise out of are based upon (i) any untrue statement or alleged untrue
statement           of any material fact contained in the registration statement or
included in the           prospectus, as amended or supplemented (including, in each
case, all documents           incorporated by reference therein, as such documents may
have been updated by           later dated documents), (ii) the omission or alleged
omission to state therein a           material fact required to be stated therein or
necessary to make the statements           therein, in light of the circumstances in
which they are made, not misleading,           or (iii) any violation or alleged
violation by the Company of the Securities Act           or the Securities Exchange Act
of 1934, as amended (the &#147;<B>Exchange           Act</B>&#148;), or any rules or
regulations promulgated thereunder, and the           Company will reimburse each
Indemnified Party, promptly upon demand, for any           reasonable legal or any other
expenses incurred by them in connection with           investigating, preparing to
defend, or defending against, or appearing as a           third-party witness in
connection with such loss, claim, damage, liability,           action, or proceeding;
provided, however, that the Company will not be liable in           any such case to the
extent that any such loss, damage, liability, cost, or           expense arises out of or
is based upon an untrue statement or alleged untrue           statement, or omission or
alleged omission, so made in conformity with           information furnished to the
Company by the Indemnified Party, in writing,           specifically for inclusion
therein; provided, further, that this indemnity shall           not be deemed to relieve
any underwriter of any of its due diligence           obligations; and provided, further,
that the indemnity agreement contained in           this Section 5.1 shall not apply to
amounts paid in settlement of any such           claim, loss, damage, liability, or
action if such settlement is effected without           the Company&#146;s consent, which
consent will not be unreasonably withheld.           Such indemnity shall remain in full
force and effect regardless of any           investigation made by or on behalf of the
Indemnified Party, and regardless of           any sale in connection with such offering
by the Holder. Such indemnity shall           survive the transfer of securities by the
Holder.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;      The
Holder will indemnify and hold harmless, to the fullest extent permitted by
          law, the Company, the Company, its officers, directors, any underwriter for the
          Company, and each person, if any, who controls the Company or such underwriter
          (collectively and individually, the &#147;<B>Indemnifiable Parties</B>&#148;),
          from and against any and all losses, damages, claims, liabilities, costs, or
          expenses (including any amount paid in any settlement effected with the
          Holder&#146;s consent, which consent will not be unreasonably withheld) to any
          Indemnifiable Party may become subject under applicable law or otherwise,
          insofar as such losses, damages, claims, liabilities or actions or proceedings
          in respect thereof, costs, or expense arise out of or are based on (i) any
          untrue statement or alleged untrue statement of any material fact contained in
          the registration statement or included in the prospectus, as amended or
          supplemented, including, in each case, all documents incorporated by reference
          therein, as such documents may have been updated by later dated documents, or
          (ii) the omission or alleged omission to state therein a material fact required
          to be stated therein or necessary to make the statements therein, in light of
          the circumstances in which they are made, not misleading, and the Holder will
          reimburse each Indemnifiable Party, promptly upon demand, for any reasonable
          legal or other expenses incurred by such Indemnifiable Party in connection with
          investigating, preparing to defend, or defending against, or appearing as a
          third-party witness in connection with such loss, claim, damage, action, or
          proceeding; in each case to the extent, but only to the extent, that such
untrue           statement or alleged untrue statement or omission or alleged omission
was so           made in conformity with written information furnished by the Holder
specifically           for inclusion therein. The foregoing indemnity agreement is
subject to the           condition that, insofar as it relates to any such untrue
statement (or alleged           untrue statement), or omission (or alleged omission) made
in the preliminary           prospectus but eliminated or remedied in the amended
prospectus at the time the           registration statement becomes effective in the
final prospectus, such indemnity           agreement shall not inure to the benefit of
(a) the Company, and (b) any           underwriter, if a copy of the final prospectus was
not furnished to the person           or entity asserting the loss, liability, claim, or
damage at or prior to the           time such furnishing is required by the Security Act;
provided, further, that           this indemnity shall not be deemed to relieve any
underwriter of any of its due           diligence obligations; provided, further, that
the indemnity agreement contained           in this Section 5.2 shall not apply to
amounts paid in settlement of any such           claim loss, damage, liability, or action
if such settlement is effected without           the consent of the Holder, as the case
may be, which consent shall not be           unreasonably withheld; and provided,
further, that the maximum amount of           liability in respect of such
indemnification shall be limited, in the case of           the Holder, to an amount equal
to the net proceeds actually received by the           Holder from the sale of
Registrable Shares sold pursuant to such registration.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;        Promptly
after receipt by an Indemnified and/or Indemnifiable Party pursuant to           the
provisions of Section 5.1 or 5.2 of notice of the commencement of any action
          involving the subject matter of the foregoing indemnity provisions, such
          Indemnified and/or Indemnifiable Party will, if a claim thereof is to be made
          against the indemnifying party pursuant to the provisions of said Section 5.1
or           5.2, promptly notify the indemnifying party of the commencement thereof; but
the           omission to notify the indemnifying party shall only relieve it from any
          liability which it may have to any Indemnified and/or Indemnifiable Party to
the           extent that such indemnifying party has been damaged by such omission to
notify           hereunder. In case such action is brought against any Indemnified and/or
          Indemnifiable party and it notifies the indemnifying party of the commencement
          thereof, the indemnifying party shall have the right to participate in, and, to
          the extent that it may wish, jointly with any other indemnifying party
similarly           notified, to assume the defense thereof with counsel reasonably
satisfactory to           such Indemnified or Indemnifiable Party; provided, however,
that if the           defendants in any action include both the Indemnified or
Indemnifiable Party and           the indemnifying party and if in the reasonable
judgment of the Indemnified or           Indemnifiable party there are separate defenses
that are available to the           Indemnified or Indemnifiable party or there is a
conflict of interest which           would prevent counsel for the indemnifying party
from also representing the           Indemnified or Indemnifiable party, the Indemnified
or Indemnifiable Party(ies)           shall have the right to select, at the expense of
the indemnifying party,           separate counsel to participate in the defense of such
action; provided,           further, however, that if the Holder is the Indemnified
Party, the Holder shall           be entitled to one (1) separate counsel at the expense
of the Company and if           underwriters are also Indemnified parties who are
entitled to counsel separate           from the indemnifying party, then all underwriters
as a group shall be entitled           to one (1) separate counsel at the expense of the
Company. After notice from the           indemnifying party of its election so to assume
the defense thereof, the           indemnifying party will not be liable to such
Indemnified or Indemnifiable Party           pursuant to the provisions of said Section
5.1 or 5.2 above for any legal or           other expense subsequently incurred by such
Indemnified or Indemnifiable Party           in connection with the defense thereof,
unless (i) the Indemnified or           Indemnifiable Party shall have employed counsel
in accordance with the provision           of the preceding sentence, (ii) the
indemnifying party shall not have employed           counsel reasonably satisfactory to
the Indemnified or Indemnifiable Party to           represent the same within a
reasonable time after the notice of the commencement           of the action and within
fifteen (15) days after written notice of the           Indemnified or Indemnifiable Party&#146;s
intention to employ separate counsel           pursuant to the previous sentence, (iii)
the indemnifying party has authorized           the employment of counsel for the
Indemnified or Indemnifiable Party at the           expense of the indemnifying party, or
(iv) the indemnifying party has authorized           the employment of counsel but such
party or counsel fails to vigorously defend           the action. No indemnifying party
will consent to entry of any judgment or enter           into any settlement, which does
not include as an unconditional term thereof the           giving by the claimant or
plaintiff to such Indemnified or Indemnifiable Party           of a release from all
liability in respect to such claim or litigation.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;     If
recovery is not available under the foregoing indemnification provisions, for
          any reason other than as specified therein, the parties entitled to
          indemnification by the terms thereof shall be entitled to contribution to
          liabilities and expenses. In determining the amount of contribution to which
the           respective parties are entitled, there shall be considered the parties&#146;          relative
knowledge and access to information concerning the matter with respect           to which
the right to indemnification was asserted, the opportunity to correct           and
prevent any statement or omission, and any other equitable consideration
          appropriate under the circumstances. In no event shall any party that is found
          liable for fraudulent misrepresentation within the meaning of Section 1(f) of
          the Securities Act be entitled to contribution hereunder from any party not
          found so liable.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Obligations
of the Company</U></B><U></U>. Whenever required under this           Agreement to effect
the registration of any Registrable Shares, the Company           shall use it best
efforts, as expeditiously as possible:  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         Prepare
and file with the Commission a registration statement with respect to           such
Registrable Shares and use its best efforts to cause such registration
          statement to become effective with the Commission or pursuant to the blue sky
          laws of such jurisdictions as shall be reasonably requested by the Holder, and,
          upon the request of the Holder, keep such registration statement effective for
a           period of up to two (2) years for any registration under Form F-3 (which
shall           be kept effective subject to the provisions of Rule 415), or for nine (9)
months           for any registration under F-1, or if sooner until the distribution
contemplated           in the registration statement has been completed.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;   Prepare
and file with the Commission such amendments and supplements to such
          registration statement and the prospectus used in connection with such
          registration statement as may be necessary to comply with the provisions of the
          Securities Act with respect to the disposition of all Registrable Shares
covered           by such registration statement.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;      Furnish
to the Holder and each duly authorized underwriter such numbers of           copies of a
prospectus, including a preliminary prospectus, in conformity with           the
requirement of the Securities Act, and such other documents as they may
          reasonably request in order to facilitate the disposition of Registrable Shares
          owned by the Holder.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;     In
the event of any underwritten public offering, enter into and perform its
          obligations under an underwriting agreement, in usual and customary form, with
          the managing underwriter of such offering. The Holder, if participating in such
          underwriting, shall also enter into and perform its obligations under such
          agreement.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;        Notify
the Holder of Registrable Shares covered by such registration statement           at any
time when a prospectus relating thereto is required to be delivered under           the
Securities Act of the happening of any event as a result of which the
          prospectus included in such registration statement, as then in effect, includes
          an untrue statement of a material fact or omits to state a material fact
          required to be stated therein or necessary to make the statements therein not
          misleading in light of the circumstances then existing, and promptly amend such
          prospectus by filing a post effective supplement so that such prospectus does
          not contain an untrue statement of material fact or omit to state a material
          fact required to be stated therein or necessary to make the statements therein
          not misleading in light of the circumstances then existing, and deliver copies
          thereof to the Holder.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         Cause
all Registrable Shares registered pursuant hereunder to be listed on each
          securities exchange on which similar securities issued by the Company are then
          listed.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         Provide
a transfer agent and registrar for all Registrable Shares registered           pursuant
to this Agreement and a CUSIP number for all such Registrable Shares,           in each
case not later than the effective date of such registration.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;        Furnish,
at the request of the Holder, on the date that such Registrable Shares           are
delivered to the underwriters for sale in connection with a registration
          pursuant to this Agreement, if such securities are being sold through
          underwriters, or, if such securities are not being sold through underwriters,
on           the date that the registration statement with respect to such securities
becomes           effective (i) an opinion, dated such date, of the counsel representing
the           Company for the purposes of such registration, in form and substance as is
          customarily given to underwriters in an underwritten public offering, addressed
          to the underwriters, if any, and to the Holder, and (ii) a letter dated such
          date, from the independent certified public accountants of the Company, in form
          and substance as is customarily given by independent certified public
          accountants to underwriters in an underwritten public offering addressed to the
          underwriters, if any, and to the Holder.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;       Promptly
notify the Holder, if the Holder is selling Registrable Shares covered           by a
registration statement, of the issuance by the Commission of any stop order
          suspending the effectiveness of the registration statement or the initiation of
          any proceedings for that purpose. The Company shall use its reasonable best
          efforts to obtain the withdrawal of any order suspending the effectiveness of
          the registration statement.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Conditions
to Registration</U></B><U></U>. The Company shall not be           obligated to effect
the registration of the Registrable Shares pursuant to this           Agreement unless
the Holder participating therein consent to customary           conditions of a
reasonable nature that are imposed by the Company, including,           but no limited
to, the following:  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;         Conditions
requiring the Holder to comply with all applicable provisions of the           Securities
Act and the Exchange Act, including, but not limited to, the           prospectus
delivery requirements; and  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;      Conditions
prohibiting the Holder, upon receipt of written notice from the           Company that it
is required by law to correct or update the registration           statement or
prospectus, from effecting sales of the Registrable Shares until           the Company
has completed the necessary correction or updating.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Furnish
Information</U></B><U></U>. It shall be a condition precedent to           the
obligations of the Company to take any action pursuant to Section 2 that the
          Holder participating in such registrations shall furnish to the Company such
          information regarding himself, the Registrable Shares held by them, and the
          intended method of disposition of such securities as shall be required to
timely           effect the registration of their Registrable Shares.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Customary
Arrangements</U></B><U></U>. The Holder may not participate in           any underwritten
offering pursuant to a registration filed hereunder unless such           person (a)
agrees to sell such person&#146;s securities on the basis provided in           customary
underwriting arrangements, and (b) provides all relevant information           and
completes and executes all questionnaires, powers of attorney, indemnities,
          underwriting agreements, and other documents required under the terms of such
          underwriting arrangements; provided, however, that the Holder participating in
          the underwritten registration may appoint one legal or other representative to
          negotiate the underwriting arrangements, at the Holder&#146;s expense.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Public
Information</U></B><U></U>. The Company shall undertake to make           publicly
available and available to the Holder adequate current public           information
within the meaning of, and as required pursuant to, Rule 144 and           shall use its
reasonable best efforts to satisfy the Registrant Requirements for           the use of
Form F-3 during the term of this Agreement.  </FONT></P>


<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Non-United
States Offering</U></B><U></U>. In the event of a public           offering of securities
of the Company outside of the United States, the Company           will afford the Holder
registration rights in accordance with applicable law and           comparable in
substance to the foregoing registration rights.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Assignment
of Registration Rights</U></B><U></U>. The rights to cause the           Company to
register Registrable Shares pursuant to this Agreement may only be           assigned by
the Holder (the &#147;<B>Assignment</B>&#148;) if such assignment is           concurrent
with the sale or transfer of Registrable Shares and only with respect           to the
transferred Registrable Shares; provided, (a) the Company, is upon such
          transfer, furnished with written notice of the name and address of such
          transferee or assignee and the securities with respect to which such
          registration rights are being assigned, and (b) such transferee or assignee
          agrees in writing to be bound by and subject to the terms and conditions of
this           Agreement.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Changes
in Registrable Shares</U></B><U></U>. If there are any changes in           the
Registrable Shares by way of stock split, stock dividend, combination or
          reclassification, or through merger, consolidation, reorganization or
          recapitalization, or by any other means, appropriate adjustment shall be made
in           the provisions of this Agreement, as may be required, so that the rights and
          privileges granted hereby shall continue with respect to the Registrable Shares
          as so changed.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Entire
Agreement</U></B><U></U>. This Agreement constitutes the full and           entire
understanding and agreement among the parties hereto with respect to the
          subject matter hereof and supersedes all prior agreements and any and all
          registration rights that the Company had previously granted to any party hereto
          in any capacity whatsoever. Nothing in this Agreement, express or implied, is
          intended to confer upon any person, other than the parties hereto and their
          respective successors and assigns, any rights, remedies, obligations, or
          liabilities under or by reason of this Agreement, except as expressly provided
          herein.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Governing
Law</U></B><U></U>. This Agreement shall be governed in all           respects by the
laws of the State of New York, as such laws are applied to           agreements between
State of New York residents entered into and to be performed           entirely within
State of New York, whether or not all parties hereto are           residents of State of
New York. Any dispute arising or resulting from this           Agreement shall be subject
to the sole and exclusive jurisdiction of the           competent court sitting in the
County of New York, State of New York.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Successors
and Assigns</U></B><U></U>. Subject to the provisions of           Section 12 above, the
provisions hereof shall inure to the benefit of, and be           binding upon, the
successors, assigns, heirs, executors and administrators of           the parties hereto.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Notices</U></B> </FONT></P>


<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;17.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          All
notices and other communications required or permitted hereunder to be given           to
a party to this Agreement shall be in writing and shall be telecopied or           mailed
by registered or certified mail, postage prepaid, or otherwise delivered           by
hand or by messenger, addressed to such party&#146;s address as set forth
          below:  </FONT></P></TD>
</TR>
</TABLE>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>



<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">If to the Holder:
</FONT></TD>
     <TD WIDTH="70%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">830 Third Avenue, 14th Floor<BR>
New York, NY 10022<BR>
United States<BR>
Facsimile: +1 212 581 5193
</FONT></TD></TR>
<TR>
      <TD>&nbsp; </TD>
      <TD> </TD>
      <TD> </TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">If to the Company:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">NUR Macroprinters Ltd.<BR>
Attn: David Amir, CEO<BR>
P.O. Box 1281<BR>
12 Abba Hillel Silver Street<BR>
Lod 71111<BR>
Israel<BR>
Facsimile: &nbsp;&nbsp;&nbsp;&nbsp;   +972-8-9218918
</FONT></TD></TR>
</TABLE>

<BR>


<!-- MARKER FORMAT-SHEET="Para Indent Lv 1-TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;or
such other address with respect to a party as such party shall notify each other party in
writing as above provided. </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 1- TNR" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=3%></TD>
<TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp; 17.2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
notice sent in accordance with this Section 17 shall be effective (i) if mailed, five (5)
business days after mailing, (ii) if sent by messenger, upon delivery, and (iii) if send
via telecopier, upon transmission and telephonic confirmation of receipt.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Severability</U></B><U></U>.
Any invalidity, illegality or limitation on           the enforceability of this
Agreement or any part thereof, by any party whether           arising by reason of the
law of the respective party&#146;s domicile or           otherwise, shall in no way
affect or impair the validity, legality or           enforceability of this Agreement
with respect to other parties. If any provision           of this Agreement shall be
judicially determined to be invalid, illegal or           unenforceable, the validity,
legality and enforceability of the remaining           provisions shall not in any way be
affected or impaired thereby.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Titles
and Subtitles</U></B><U></U>. The titles of the Sections of this           Agreement are
for convenience of reference only and are not to be considered in           construing
this Agreement.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Counterparts</U></B><U></U>.
This Agreement may be executed in any number           of counterparts, each of which
shall be an original, but all of which together           shall constitute one
instrument. This Agreement may be executed by exchange of           signatures via
facsimile.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>In
Witness Whereof</B>, the parties have signed this Agreement, as of the date first
appearing above. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Default" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NUR Macroprinters Ltd. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Workstation" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<BR>BY: /S/ David Amir<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Name: David Amir<BR>Title: President and Chief Executive Officer</FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<BR>/S/ Dan Purjes<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
<B>Dan Purjes</B><BR></FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Workstation" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<BR>BY: /S/ David Seligman<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Name: David Seligman<BR>Title: Chief Financial Officer</FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Exhibit D</U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR"  -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Form of Proxy </U></FONT></H1>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">
<P STYLE="page-break-after:always"></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>Exhibit D</U> </FONT> </H1>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proxy </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I,
Dan Purjes, of ______________________________________, a record shareholder and a
beneficial owner of ordinary shares, par value NIS 1.0 each, of NUR Macroprinters Ltd.
(the &#147;<B>Company</B>&#148;), hereby irrevocably appoint the Company&#146;s Board of
Directors or any person(s) nominated by the Board of Directors (the representative in fact
will hereinafter be referred as, the &#147;<B>Representative</B>&#148;) to vote in my name
and in my place any and all of the Company&#146;s shares beneficially held by me on the
date hereof or that I may beneficially own in the future as long as this proxy is in
effect at any and all of the general meetings (annual, special, extraordinary and
adjourned) of the Company to be held at any time during the period commencing after the
date hereof, and otherwise to use the voting power attached to any and all of such shares
during such period. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Representative will vote all ordinary shares beneficially held by me at the relevant times
with the majority of votes of the other shareholders of the Company. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
proxy granted hereby: (i) is a special power of attorney coupled with an interest and is
irrevocable; (ii) shall survive the bankruptcy or dissolution of the undersigned and its
transferees, and (iii) shall survive the transfer of the Shares, until duly replaced by a
similar Proxy executed by the transferee, unless such transfer and transferee is not bound
by the terms of this Proxy pursuant to the terms of the Voting Agreement dated as of
January 23, 2005. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
proxy shall terminate at such time and on the happening of such events as set forth in the
Voting Agreement dated as of January 23, 2005. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>In
Witness Whereof</B>, I have hereby affixed my signature this ___ day of January, 2005. </FONT></P>

<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Workstation" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<BR>/S/ Dan Purjes<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Dan Purjes</FONT></TD>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
</TR>
</TABLE>
<BR>


<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>I hereby confirm that the foregoing<BR>
instrument was signed in my presence<BR>
by Mr. Dan Purjes, whom I know personally
</FONT></P>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Name:</FONT></TD>
     <TD WIDTH="95%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Title:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Address:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Signature:</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">________________</FONT></TD></TR>
</TABLE>
<BR>

<P ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ Dan Purjes 1/23/05</FONT></P>

<p align=center>
<font size=2></font></p>
<HR SIZE="1" NOSHADE  STYLE="margin-top: -2px">
<HR SIZE="4" NOSHADE  STYLE="margin-top: -10px">

</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
