<SEC-DOCUMENT>0001178913-19-000571.txt : 20190214
<SEC-HEADER>0001178913-19-000571.hdr.sgml : 20190214
<ACCEPTANCE-DATETIME>20190214162931
ACCESSION NUMBER:		0001178913-19-000571
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20190214
DATE AS OF CHANGE:		20190214

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAGIC SOFTWARE ENTERPRISES LTD
		CENTRAL INDEX KEY:			0000876779
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				330477418
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-41906
		FILM NUMBER:		19606999

	BUSINESS ADDRESS:	
		STREET 1:		5 HAPLADA STREET
		CITY:			OR YEHUDA ISRAEL
		STATE:			L3
		ZIP:			60218
		BUSINESS PHONE:		97235389322

	MAIL ADDRESS:	
		STREET 1:		5 HAPLADA STREET
		CITY:			OR YEHUDA ISRAEL
		STATE:			L3
		ZIP:			60218

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Clal Insurance Enterprises Holdings Ltd
		CENTRAL INDEX KEY:			0001376192
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		36 RAUL WALENBERG ST
		CITY:			TEL-AVIV
		STATE:			L3
		ZIP:			6136902
		BUSINESS PHONE:		972-3-638-7575

	MAIL ADDRESS:	
		STREET 1:		36 RAUL WALENBERG ST
		CITY:			TEL-AVIV
		STATE:			L3
		ZIP:			6136902
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>zk1922712.htm
<DESCRIPTION>SC 13G/A
<TEXT>
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            <div style="TEXT-ALIGN: right; LINE-HEIGHT: 1.25">&#160;</div>
            <div style="TEXT-ALIGN: center; FONT: bold 14pt/1.25 'Times New Roman', Times, serif">SECURITIES AND EXCHANGE COMMISSION</div>
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            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">Washington, D.C. 20549</div>
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    <div style="TEXT-ALIGN: center; FONT: bold 14pt/1.25 'Times New Roman', Times, serif">SCHEDULE 13G/A</div>
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    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">Under the Securities Exchange Act of 1934<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
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    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c) AND (d) </div>
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    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">Under the Securities Exchange Act of 1934</div>
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            <div style="TEXT-ALIGN: center; FONT: bold 16pt/1.25 'Times New Roman', Times, serif">MAGIC SOFTWARE ENTERPRISES LTD.</div>
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            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">(Name of Issuer)</div>
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            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">Ordinary Shares, NIS <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">0.10</font>
              par value</div>
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            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">(Title of Class of Securities)</div>
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            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">559166103</div>
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            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">(CUSIP Number)</div>
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              <div style="text-align: center; line-height: 1.25; font-family: &quot;Times New Roman&quot;,Times,serif; font-size: 10pt; font-weight: bold;">December <font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;">31,
                  2018</font></div>
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            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 1.25">(Date of Event Which Requires Filing of this Statement)</div>
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    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -36pt">Check the appropriate box to designate the rule pursuant to which this Schedule is filed:</div>
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    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.25">&#9744;&#160;Rule 13d-1(b)</div>
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    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; LINE-HEIGHT: 1.25">&#9744;&#160;Rule 13d-1(d)</div>
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              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25">The remainder of this cover page shall be filled out for a reporting person&#8217;s initial filing on this form with respect to the
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    <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 9pt; LINE-HEIGHT: 1.25">The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of
      Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).</div>
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              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Name of Reporting Persons/</div>
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              <div style="FONT-SIZE: 80%; FONT-FAMILY: times new roman, times, serif; FONT-WEIGHT: normal">SEC Use Only</div>
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                &#160;</div>
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              <div style="FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Israel</div>
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            <td style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 2px solid; WIDTH: 7%" rowspan="4" colspan="2" valign="middle"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">Number of </font>
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              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Reporting </div>
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              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Sole Voting Power</div>
              <div style="FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">0</div>
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              <div style="FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
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                    <div style="text-align: left; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">3,630,149</font> Ordinary Shares *</div>
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              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Sole Dispositive Power</div>
              <div style="FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
              <div style="FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">0</div>
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            <td style="BORDER-TOP: medium none; BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; WIDTH: 79%">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Shared Dispositive Power</div>
              <div style="FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
                  <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
                    <div style="text-align: left; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">3,630,149</font> Ordinary Shares *</div>
                  </div>
                </div>
              </div>
            </td>
          </tr>
          <tr valign="top">
            <td style="FONT-SIZE: 80%; FONT-FAMILY: times new roman, times, serif; BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid; FONT-WEIGHT: normal; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; WIDTH: 7%" valign="top">9.</td>
            <td style="BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid; WIDTH: 7%" colspan="3">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Aggregate Amount Beneficially Owned by Each Reporting Person</div>
              <div style="FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
                  <div style="text-align: left; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">3,630,149</font> Ordinary Shares *</div>
                </div>
              </div>
            </td>
          </tr>
          <tr valign="top">
            <td style="FONT-SIZE: 80%; FONT-FAMILY: times new roman, times, serif; BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid; FONT-WEIGHT: normal; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; WIDTH: 7%" valign="top">10.</td>
            <td style="BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid; WIDTH: 7%" colspan="3">
              <div>
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: -5.4pt; TEXT-INDENT: 0pt">Check if the Aggregate Amount in Row (9) Excludes Certain Shares</div>
                <div style="FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: -5.4pt; TEXT-INDENT: 0pt">&#160;</div>
              </div>
              <div>&#9744; </div>
            </td>
          </tr>
          <tr valign="top">
            <td style="FONT-SIZE: 80%; FONT-FAMILY: times new roman, times, serif; BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid; FONT-WEIGHT: normal; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; WIDTH: 7%" valign="top">11.</td>
            <td style="BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid; WIDTH: 7%" colspan="3">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Percent of Class Represented by Amount in Row (9)</div>
              <div style="FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
                <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
                  <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">
                    <div style="text-align: left; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">7.4</font>%**</div>
                  </div>
                </div>
              </div>
            </td>
          </tr>
          <tr valign="top">
            <td style="FONT-SIZE: 80%; FONT-FAMILY: times new roman, times, serif; BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid; FONT-WEIGHT: normal; TEXT-ALIGN: center; BORDER-LEFT: black 2px solid; WIDTH: 7%" valign="top">12.</td>
            <td style="BORDER-RIGHT: black 2px solid; BORDER-BOTTOM: black 2px solid; WIDTH: 7%" colspan="3">
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Type of Reporting Person
                :&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
              <div style="FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
              <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CO</div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div>
      <div id="DSPFPageHeader">
        <div id="DSPFPageHeader">
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">* See Item 4.</div>
          <div style="LINE-HEIGHT: 1.25"><br style="LINE-HEIGHT: 1.25">
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25">
            <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">** Based on <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">48,841,038 </font>Ordinary Shares
              outstanding as of <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">January 22, 2019</font> (as reported by the Issuer in <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Exhibit 99.1
                to </font>its Report on Form <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">6-K</font> filed with the Securities and Exchange Commission <font style="font-size: 10pt; font-family: 'Times New Roman', Times,
                serif;">on January 23, 2019</font>).</div>
            <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br>
            </div>
            <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
              <div id="DSPFPageBreak" style="page-break-after: always;">
                <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
            </div>
            <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">
              <div style="text-align: left; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Item 1.</div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z0324f3c5ca4f4b82ae04d09e25843ba4" cellpadding="0" cellspacing="0">

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                        <td style="width: 21.3pt;"><br>
                        </td>
                        <td style="width: 21.25pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(a)</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Name of Issuer: MAGIC SOFTWARE ENTERPRISES LTD</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> (the &#8220;Issuer&#8221;).</font></font></div>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="zf1304b12d21844149e2fc88842d3851f" cellpadding="0" cellspacing="0">

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                        <td style="width: 21.3pt;"><br>
                        </td>
                        <td style="width: 21.25pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(b)</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Address of Issuer&#8217;s Principal Executive Offices:<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
                              </font>5 HaPlada Street, Or-Yehuda, Israel 60218</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 2.</font></div>
              <div style="text-align: left; text-indent: 35.45pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"></font></font><br>
                <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Name of Person Filing:</font></font></font></font></div>
              <div style="text-align: left; text-indent: 35.45pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"></font></font></font><font style="font-size: 10pt; font-family: 'Times New Roman',
                    Times, serif;"></font></font></div>
              <div style="text-align: left; text-indent: 35.45pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
                  </font></font></div>
              <div style="margin: 0px 0px 0px 35.45pt; line-height: 1.25; text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Clal
                    Insurance Enterprises Holdings Ltd. (&#8220;Clal&#8221; or the &#8220;Reporting Person&#8221;). </font>Clal,<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> an Israeli public corporation</font>,<font style="font-size: 10pt;
                    font-family: 'Times New Roman', Times, serif;"> may be deemed to beneficially own the Ordinary Shares reported in this Statement.&#160; See Item 4.</font></font></div>
              <div style="text-align: left; text-indent: 35.45pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
                  </font></font></div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z737161e61c7d4652bcd980ad3d88cc84" cellpadding="0" cellspacing="0">

                      <tr>
                        <td style="width: 36pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(b)</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Address of Principal Business Offices or, if none, Residence:<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
                              </font></font></div>
                        </td>
                      </tr>

                  </table>
                </div>
                <br style="line-height: 1.25;">
              </div>
              <div style="text-align: left; line-height: 1.25; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Clal Insurance Enterprises Holdings Ltd.&#160; &#8211; 36 Raul Walenberg St., Tel Aviv 66180, Israel</font></div>
              <div style="line-height: 1.25;"><br style="line-height: 1.25;">
              </div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="ze50d9526f8cc4cfea7921d3082009454" cellpadding="0" cellspacing="0">

                      <tr>
                        <td style="width: 35.45pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(c)</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Place of Organization:</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; text-indent: -36pt; margin-left: 72pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Israel.</font></div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z5821af30c7ca469e89f5260788b2400d" cellpadding="0" cellspacing="0">

                      <tr>
                        <td style="width: 35.45pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(d)</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Title of Class of Securities:</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; text-indent: -36.55pt; margin-left: 72pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Ordinary Shares, NIS 0.10 par value (the &#8220;Ordinary Shares&#8221;).</font></div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z0986ea11ccdd4242b7d74e62c7a50890" cellpadding="0" cellspacing="0">

                      <tr>
                        <td style="width: 35.45pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(e)</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">CUSIP Number:</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; text-indent: -36.55pt; margin-left: 72pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">559166103</font></div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="zb9f8274e128445d5be9cae37203c1120" cellpadding="0" cellspacing="0">

                      <tr>
                        <td style="width: 36pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 3.</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">If this statement is filed pursuant to Rules
                                13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:</font></font></div>
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"></font><font style="font-size: 10pt; font-family:
                                'Times New Roman', Times, serif;"><br>
                              </font>Not applicable.</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="zc15dd7f1781c40928bcea4ea853aed8d" cellpadding="0" cellspacing="0">

                      <tr>
                        <td style="width: 36pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 4.</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Ownership</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Of the 3,630,149 Ordinary Shares reported in this Statement as beneficially owned by Clal,
                  (i) 342,560 Ordinary Shares are beneficially held for its own account; and (ii) 3,287,589 are held for members of the public through, among others, provident funds and/or pension funds and/or insurance policies, which are managed by
                  subsidiaries of Clal, which subsidiaries operate under independent management and make independent voting and investment decisions. Consequently, this Statement shall not be construed as an admission by Clal, that it is the beneficial
                  owner of more than 342,560 Ordinary Shares covered by this Statement.</font></div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Except as set forth above, see items 5-11 of the cover page hereto for beneficial ownership,
                  percentage of class and dispositive power of the Reporting Person, which are incorporated herein.</font></div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z8cfb81f05c8a44cfa41324aa3b72ee20" cellpadding="0" cellspacing="0">

                      <tr>
                        <td style="width: 36pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 5.</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Ownership of 5 Percent or Less of a Class</font></font></div>
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"></font><font style="font-size: 10pt; font-family:
                                'Times New Roman', Times, serif;"><br>
                              </font>If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following &#9744;.</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z3d21e5aa56884f5fa49b5c3473da5304" cellpadding="0" cellspacing="0">

                      <tr>
                        <td style="width: 36pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 6.</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Ownership of More than 5 Percent on Behalf of
                                Another Person</font></font></div>
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"></font><font style="font-size: 10pt; font-family:
                                'Times New Roman', Times, serif;"><br>
                              </font>Not applicable.</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
              </div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
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                      <tr>
                        <td style="width: 36pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 7.</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Identification and Classification of the Subsidiary
                                Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person</font></font></div>
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"></font><font style="font-size: 10pt; font-family:
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                              </font>Not applicable.</font></div>
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              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; line-height: 1.25;">
                <div>
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                        <td style="width: 36pt; vertical-align: top;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 8.</font></td>
                        <td style="width: auto; vertical-align: top; text-align: left;">
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Identification and Classification of Members of the
                                Group</font></font></div>
                          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"></font><font style="font-size: 10pt; font-family:
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                              </font>Not applicable.</font></div>
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              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;
                    font-weight: bold;">Item 9.&#160; Notice of Dissolution of Group</font></font></div>
              <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;
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                  </font>Not applicable.</font></div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 10.&#160; Certifications</font></div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: left; margin-left: 36pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">By signing below I certify that, to the best of my knowledge and belief, the securities referred
                  to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any
                  transaction having that purpose or effect.</font></div>
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              <div style="line-height: 1.25">&#160;</div>
              <div style="text-align: center; text-indent: -36pt; margin-left: 36pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SIGNATURES</font></div>
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              <div style="text-align: justify; text-indent: 18pt; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">After reasonable inquiry and to the best of my knowledge and belief, I certify that the
                  information set forth in this statement is true, complete and correct.</font></div>
              <div style="line-height: 1.25">&#160;</div>
              <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" id="zb8021d73a0584efa90b04c4f1de89e4d" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 100%; vertical-align: top;">
                      <div style="text-align: left; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;February 14, 2019</font></div>
                    </td>
                  </tr>

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              <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td colspan="2" style="vertical-align: top;">
                      <div style="text-align: left; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">CLAL INSURANCE ENTERPRISES HOLDINGS LTD.</font></div>
                    </td>
                    <td style="width: 17%; vertical-align: top;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                    <td style="width: 30%; vertical-align: top;">&#160;</td>
                    <td style="width: 17%; vertical-align: top;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 3%; vertical-align: top;">
                      <div style="text-align: left; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">BY:</font></div>
                    </td>
                    <td style="width: 30%; vertical-align: top; border-bottom: 2px solid black;">
                      <div style="text-align: left; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">/s/ Eran Czerninski</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160; &#160; /s/ Yossi Dory</font></font></div>
                    </td>
                    <td style="width: 17%; vertical-align: top;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                    <td style="width: 30%; vertical-align: top;">
                      <div style="text-align: left; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Eran Czerninski and </font>Yossi

                          Dory, authorized signatories of</font></div>
                    </td>
                    <td style="width: 17%; vertical-align: top;">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 50%; vertical-align: top;">&#160;</td>
                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                    <td style="width: 30%; vertical-align: top;">
                      <div style="text-align: left; line-height: 1.25;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">CLAL INSURANCE ENTERPRISES HOLDINGS LTD<font style="font-size: 10pt; font-family: 'Times New Roman', Times,
                            serif;">.</font></font></div>
                    </td>
                    <td style="width: 17%; vertical-align: top;">&#160;</td>
                  </tr>

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    <div>&#160;</div>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exhibit_1.htm
<DESCRIPTION>EXHIBIT 1
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 1.25"><u>EXHIBIT 1</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">January 4, 2018</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">CLAL INSURANCE ENTERPRISES HOLDINGS LTD.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Atidim Tower</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">36 Raoul Wallenberg Street</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Tel Aviv&#160; 6136902</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Israel</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Gentlemen,</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25">Pursuant to Rule 13d-1(k)(1)(iii) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agrees that CLAL INSURANCE ENTERPRISES HOLDINGS LTD. (&#8220;Clal&#8221;) may file as necessary on behalf of the undersigned with the Securities and Exchange Commission a Schedule 13G or Schedule 13D and any amendments thereto in respect of shares of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">MAGIC SOFTWARE ENTERPRISES</font> LTD. purchased, owned or sold from time to time by the undersigned.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; LINE-HEIGHT: 1.25">Clal is hereby authorized to file a copy of this letter as an exhibit to said Schedule 13D or Schedule 13G or any amendments thereto.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Very truly yours,</div>
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<td style="VERTICAL-ALIGN: top; WIDTH: 50%">&#160;</td>
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<td style="VERTICAL-ALIGN: top; WIDTH: 50%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal; WIDTH: 50%">

<div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25"><u>/s/ IDB DEVELOPMENT CORPORATION LTD.</u></div>
</td>
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<td style="VERTICAL-ALIGN: top; WIDTH: 50%">&#160;</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 50%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">IDB DEVELOPMENT CORPORATION LTD.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">Agreed:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25"><u>/s/ CLAL INSURANCE ENTERPRISES HOLDINGS LTD.</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 1.25">CLAL INSURANCE ENTERPRISES HOLDINGS LTD.</div>
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