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<SEC-DOCUMENT>0001178913-08-002482.txt : 20080923
<SEC-HEADER>0001178913-08-002482.hdr.sgml : 20080923
<ACCEPTANCE-DATETIME>20080923122415
ACCESSION NUMBER:		0001178913-08-002482
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20080923
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080923
DATE AS OF CHANGE:		20080923

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PLURISTEM THERAPEUTICS INC
		CENTRAL INDEX KEY:			0001158780
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				980351734
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31392
		FILM NUMBER:		081083976

	BUSINESS ADDRESS:	
		STREET 1:		MATAM ADVANCED TECHNOLOGY PARK
		STREET 2:		BUILDING NO. 20
		CITY:			HAIFA
		STATE:			L3
		ZIP:			31905
		BUSINESS PHONE:		972-4-850-1080

	MAIL ADDRESS:	
		STREET 1:		MATAM ADVANCED TECHNOLOGY PARK
		STREET 2:		BUILDING NO. 20
		CITY:			HAIFA
		STATE:			L3
		ZIP:			31905

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PLURISTEM LIFE SYSTEMS INC
		DATE OF NAME CHANGE:	20030701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AI SOFTWARE INC
		DATE OF NAME CHANGE:	20010906
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>zk85832.htm
<TEXT>
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     <!-- Control Number: 85832                                                            -->
     <!-- Rev Number:     1                                                                -->
     <!-- Client Name:    Pluristem Therapeutics Inc                                       -->
     <!-- Project Name:   8-K                                                              -->
     <!-- Firm Name:      Zadok-Keinan Ltd                                                 -->
     <TITLE>8-K</TITLE>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>UNITED STATES </FONT><BR>
<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, DC 20549 </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>Form&nbsp;8-K </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Current Report </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant to Section&nbsp;13 or 15(d)&nbsp;of the Securities Exchange Act of 1934 </FONT></H1>

<P align=center><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date of report (Date of earliest event reported): <B>September 23, 2008 (September 22, 2008)</B> </FONT> </P>

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<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="5"><B>PLURISTEM THERAPEUTICS
INC.</B> </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Exact name of registrant as specified in its charter) </FONT></P>


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<TR VALIGN=Bottom>
     <TD WIDTH="33%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2"><B>Nevada</B> </FONT></TD>
     <TD WIDTH="34%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2"><B>001-31392</B> </FONT></TD>
     <TD WIDTH="33%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2"><B>98-0351734</B> </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>(State or other jurisdiction of incorporation)</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>(Commission file number)</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>(I.R.S. Employer Identification Number)</FONT></TD></TR>
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     <TD WIDTH="50%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2"><B>MATAM Advanced Technology Park</B> </FONT></TD>
     <TD WIDTH="50%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2"><B>&nbsp;</B> </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2"><B>Building No. 20</B> </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2"><B>Haifa, Israel</B> </FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2"><B>31905</B> </FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>(Address of principal executive offices)</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE=2>(Zip Code)</FONT></TD></TR>
</TABLE>
<BR>

<P align=center><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Registrant's telephone number, including area code: <B>011 972 74 710 7171</B> </FONT></P>


<P align=center><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>n/a</B> </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Former name or former address, if changed since last report)</FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions: </FONT></P>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>     <FONT size="3" face="Wingdings">o</font> </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR>
</TABLE>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>     <FONT size="3" face="Wingdings">o</font>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR>
</TABLE>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>     <FONT size="3" face="Wingdings">o</font>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR>
</TABLE>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>     <FONT size="3" face="Wingdings">o</font>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 1.01</B> </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B></B> </FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
Entry into a Material Definitive Agreement</B> </FONT> </TD>
</TR>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
September 22, 2008, we sold 900,000 shares of our common stock (&#147;Common Stock&#148;)
and warrants (&#147;Warrants&#148;) to purchase 675,000 shares of Common Stock to an
investor pursuant to terms of a securities purchase agreement. The price per share of
Common Stock is $1.15, and the exercise price of the Warrants is $1.90. The Warrants will
be exercisable for a period of five years. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
copy of the form of Warrant is attached as Exhibit&nbsp;4.1 to this report and is
incorporated herein by reference. The description of the Warrants is a summary only and is
qualified in its entirety by reference to Exhibit&nbsp;4.1. A copy of the form of
securities purchase agreement is attached as Exhibit&nbsp;10.1 to this report and is
incorporated herein by reference. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
offering was made pursuant to our shelf registration statement on Form S-3 (File No.
333-151761). We are filing with the SEC, pursuant to Rule 424(b) under the Securities Act
of 1933, as amended, a prospectus supplement related to the offering. </FONT></P>

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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Item 9.01</B> </FONT></TD>
<TD WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B></B> </FONT></TD>
<TD WIDTH=88%><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
Statements and Exhibits</B> </FONT> </TD>
</TR>
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<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>(d) Exhibits:</B> </FONT> </P>

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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.1  </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>Form
of Common Stock Purchase Warrant dated September 22, 2008 </FONT></TD>
</TR>
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<BR>

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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5.1  </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>Opinion
of Zysman, Aharoni, Gayer &amp; Co./ Sullivan &amp; Worcester LLP </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1  </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>Form
of Securities Purchase Agreement dated September 22, 2008 </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23.1  </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>Consent
of Zysman, Aharoni, Gayer &amp; Co./ Sullivan &amp; Worcester LLP (included in Exhibit
5.1). </FONT></TD>
</TR>
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<BR>




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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>SIGNATURES</B> </FONT> </H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 hereunto duly authorized. </FONT></P>


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<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR><BR>Date: September 23, 2008</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><B>PLURISTEM THERAPEUTICS INC.</B><BR><BR>
<BR>By: /s/ Yaky Yanay<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Yaky Yanay<BR>Chief Financial Officer</FONT></TD>
</TR>
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<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>exhibit_4-1.htm
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     <!-- Control Number: 85832                                                            -->
     <!-- Rev Number:     1                                                                -->
     <!-- Client Name:    Pluristem Therapeutics Inc                                       -->
     <!-- Project Name:   8-K                                                              -->
     <!-- Firm Name:      Zadok-Keinan Ltd                                                 -->
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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U><B>EXHIBIT 4.1</B></U> </FONT> </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PLURISTEM THERAPEUTICS
INC. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>COMMON STOCK PURCHASE
WARRANT </FONT></P>



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     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Warrant No.: 20080922</FONT></TD>
     <TD WIDTH=70% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Original Issue Date: September 22, 2008</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Initial Holder: Bangor Holdings Ltd.</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>No. of Shares Subject to Warrant: 675,000</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Exercise Price Per Share: $1.90</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Expiration Time: 10 a.m., New York time, on September 21, 2013 (subject to acceleration as provided herein)</FONT></TD></TR>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pluristem
Therapeutics Inc., a Nevada corporation (the &#147;Company&#148;), hereby certifies that,
for value received, the Initial Holder shown above, or its permitted registered assigns
(the &#147;Holder&#148;), is entitled to purchase from the Company up to the number of
shares of its common stock shown above (the &#147;Common Stock&#148;) (each such share, a
&#147;Warrant Share&#148; and all such shares, the &#147;Warrant Shares&#148;) at the
exercise price shown above (as may be adjusted from time to time as provided herein, the
&#147;Exercise Price&#148;), at any time and from time to time on or after the Original
Issue Date shown above and through and including the expiration time shown above (the
&#147;Expiration Time&#148;), and subject to the following terms and conditions:  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Warrant is being issued pursuant to a Securities Purchase Agreement, dated September 22,
2008 (the &#147;Subscription Agreement&#148;), by and between the Company and the Initial
Holder.&nbsp; The original issuance of the Warrant by the Company pursuant to the
Subscription Agreement and the exercise thereof has been registered pursuant to a
Registration Statement on Form&nbsp;S-3 (File No.&nbsp;333-151761) (the &#147;Registration
Statement&#148;). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>.
In addition to the terms defined elsewhere in this Warrant,           capitalized terms
that are not otherwise defined herein have the meanings given           to such terms in
the Subscription Agreement.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>List
of Warrant Holders</U>.&nbsp; The Company shall register this Warrant, upon records to be
maintained by the Company for that purpose (the &#147;Warrant Register&#148;), in the
name of the record Holder (which shall include the Initial Holder or, as the case may be,
any registered assignee to which this Warrant is permissibly assigned hereunder from time
to time).&nbsp; The Company may deem and treat the registered Holder of this Warrant as
the absolute owner hereof for the purpose of any exercise hereof or any distribution to
the Holder, and for all other purposes, absent actual notice to the contrary.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>List
of           Transfers; Restrictions on Transfer</U>. The Company shall register any
transfer           of all or any portion of this Warrant in the Warrant Register, upon
surrender of           this Warrant, with the Form of Assignment attached hereto duly
completed and           signed, to the Company at its address specified herein. Upon any
such           registration or transfer, a new Warrant to purchase Common Stock, in
          substantially the form of this Warrant (any such new Warrant, a &#147;New
          Warrant&#148;), evidencing the portion of this Warrant so transferred shall be
          issued to the transferee and a New Warrant evidencing the remaining portion of
          this Warrant not so transferred, if any, shall be issued to the transferring
          Holder. The acceptance of the New Warrant by the transferee thereof shall be
          deemed the acceptance by such transferee of all of the rights and obligations
in           respect of the New Warrant that the Holder has in respect of this Warrant.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
          and Duration of Warrant</U>.  </FONT></P>

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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All
or any part of this Warrant           shall be exercisable by the registered Holder in
any manner permitted by           Section&nbsp;10 of this Warrant at any time and from
time to time on or after           the Original Exercisability Date and through and
including the Expiration Time.           Subject to Section 11 hereof, at the Expiration
Time, the portion of this           Warrant not exercised prior thereto shall be and
become void and of no value and           this Warrant shall be terminated and shall no
longer be outstanding.  </FONT></P></TD>
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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Holder may exercise this Warrant by delivering to the Company (i) an exercise notice, in
the form attached hereto (the &#147;Exercise Notice&#148;), completed and duly signed,
and (ii) if such Holder is not utilizing the cashless exercise provisions set forth in
this Warrant, payment of the Exercise Price for the number of Warrant Shares as to which
this Warrant is being exercised.&nbsp; The date such items are delivered to the Company
(as determined in accordance with the notice provisions hereof) is an &#147;Exercise Date
..&#148; The Holder shall not be required to deliver the original Warrant in order to
effect an exercise hereunder, but if it is not so delivered then such exercise shall
constitute an agreement by the Holder to deliver the original Warrant to the Company as
soon as practicable thereafter.&nbsp; Execution and delivery of the Exercise Notice shall
have the same effect as cancellation of the original Warrant and issuance of a New
Warrant evidencing the right to purchase the remaining number of Warrant Shares.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery
          of Warrant Shares</U>.  </FONT></P>

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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
exercise of this           Warrant, the Company shall promptly (but in no event later
than three (3)           Trading Days after the Exercise Date) issue or cause to be
issued and cause to           be delivered to or upon the written order of the Holder and
in such name or           names as the Holder may designate, a certificate for the
Warrant Shares issuable           upon such exercise, free of restrictive legends. &#147;Trading
Day&#148; shall           mean a date on which the Company&#146;s Common Stock trades on
its principal           trading market. The Holder, or any Person permissibly so
designated by the           Holder to receive Warrant Shares, shall be deemed to have
become the holder of           record of such Warrant Shares as of the Exercise Date.&nbsp; The
Company shall,           upon the written request of the Holder, use its best efforts to
deliver, or           cause to be delivered, Warrant Shares hereunder electronically
through the           Depository Trust and Clearing Corporation or another established
clearing           corporation performing similar functions, if available; <I>provided,
that,</I>          the Company may, but will not be required to, change its transfer
agent if its           current transfer agent cannot deliver Warrant Shares
electronically through the           Depository Trust and Clearing Corporation.&nbsp; If
as of the time of exercise           the Warrant Shares constitute restricted or control
securities, the Holder, by           exercising, agrees not to resell them except in
compliance with all applicable           securities laws.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent permitted           by law, the Company&#146;s obligations to issue and
deliver Warrant Shares in           accordance with the terms hereof are absolute and
unconditional, irrespective of           any action or inaction by the Holder to enforce
the same, any waiver or consent           with respect to any provision hereof, the
recovery of any judgment against any           Person or any action to enforce the same,
or any setoff, counterclaim,           recoupment, limitation or termination, or any
breach or alleged breach by the           Holder or any other Person of any obligation to
the Company or any violation or           alleged violation of law by the Holder or any
other Person, and irrespective of           any other circumstance that might otherwise
limit such obligation of the Company           to the Holder in connection with the
issuance of Warrant Shares. Nothing herein           shall limit a Holder&#146;s right to
pursue any other remedies available to it           hereunder, at law or in equity
including, without limitation, a decree of           specific performance and/or
injunctive relief with respect to the Company&#146;s           failure to timely deliver
certificates representing shares of Common Stock upon           exercise of the Warrant
as required pursuant to the terms hereof.  </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">
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Charges,
          Taxes and Expenses</U>. Issuance and delivery of certificates for shares of
          Common Stock upon exercise of this Warrant shall be made without charge to the
          Holder for any issue or transfer tax, withholding tax, transfer agent fee or
          other incidental tax or expense in respect of the issuance of such
certificates,           all of which taxes and expenses shall be paid by the Company; <I>provided,
          however,</I> that the Company shall not be required to pay any tax that may be
          payable in respect of any transfer involved in the registration of any
          certificates for Warrant Shares or the Warrants in a name other than that of
the           Holder. The Holder shall be responsible for all other tax liability that
may           arise as a result of holding or transferring this Warrant or receiving
Warrant           Shares upon exercise hereof.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Replacement
of Warrant</U>.&nbsp; If this Warrant is mutilated, lost, stolen           or destroyed,
the Company shall issue or cause to be issued in exchange and           substitution for
and upon cancellation hereof, or in lieu of and substitution           for this Warrant,
a New Warrant, but only upon receipt of evidence reasonably           satisfactory to the
Company of such loss, theft or destruction and customary and           reasonable
indemnity, if requested. Applicants for a New Warrant under such           circumstances
shall also comply with such other reasonable regulations and           procedures and pay
such other reasonable third-party costs as the Company may           prescribe. If a New
Warrant is requested as a result of a mutilation of this           Warrant, then the
Holder shall deliver such mutilated Warrant to the Company as           a condition
precedent to the Company&#146;s obligation to issue the New Warrant.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reservation
of Warrant Shares</U>. The Company covenants that it will at all           times reserve
and keep available out of the aggregate of its authorized but           unissued and
otherwise unreserved Common Stock, solely for the purpose of           enabling it to
issue Warrant Shares upon exercise of this Warrant as herein           provided, the
number of Warrant Shares that are then issuable and deliverable           upon the
exercise of this entire Warrant, free from preemptive rights or any           other
contingent purchase rights of persons other than the Holder (taking into
          account the adjustments and restrictions of Section 9). The Company covenants
          that all Warrant Shares so issuable and deliverable shall, upon issuance and
the           payment of the applicable Exercise Price in accordance with the terms
hereof, be           duly and validly authorized, issued and fully paid and
nonassessable.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
          Adjustments; Termination Under Certain Circumstances</U>. The Exercise Price
and           number of Warrant Shares issuable upon exercise of this Warrant are subject
to           adjustment from time to time as set forth in this Section 9.  </FONT></P>

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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Dividends and Splits</U>. If the Company, at any time while this Warrant is outstanding,
(i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any
class of capital stock that is payable in shares of Common Stock, (ii) subdivides
outstanding shares of Common Stock into a larger number of shares, or (iii) combines
outstanding shares of Common Stock into a smaller number of shares, then in each such
case the Exercise Price shall be multiplied by a fraction of which the numerator shall be
the number of shares of Common Stock outstanding immediately before such event and of
which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event. Any adjustment made pursuant to clause (i) of this
paragraph shall become effective immediately after the record date for the determination
of stockholders entitled to receive such dividend or distribution, and any adjustment
pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately
after the effective date of such subdivision or combination.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Pro
Rata           Distributions</U>.&nbsp; If the Company, at any time while this Warrant is
          outstanding, distributes to all holders of Common Stock for no consideration
(i)           evidences of its indebtedness, (ii) any security (other than a distribution
of           Common Stock covered by the preceding paragraph), (iii) rights or warrants
to           subscribe for or purchase any security, or (iv) any other asset besides cash
(in           each case, &#147;Distributed Property&#148;), then either upon any exercise
of           this Warrant that occurs after the record date fixed for determination of
          stockholders entitled to receive such distribution or, at the option of the
          Company, concurrently with such distribution, the Holder shall be entitled to
          receive, in addition to the Warrant Shares otherwise issuable upon such
exercise           (if applicable), the Distributed Property that such Holder would have
been           entitled to receive in respect of such number of Warrant Shares had the
Holder           been the record holder of such Warrant Shares immediately prior to such
record           date.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2>- 3 -</font></p>
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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fundamental
Transactions</U>. As used herein, &#147;Fundamental Transaction&#148; means at any time
while this Warrant is outstanding&nbsp; (i) the Company effects any merger of the Company
with another Person, in which the shareholders of the Company immediately prior to the
transaction own immediately after the transaction less than a majority of the outstanding
stock of the successor entity, or its parent if applicable, (ii) the Company effects any
sale of all or substantially all of its assets in one or a series of related
transactions, (iii) any tender offer or exchange offer approved or authorized by the
Company&#146;s Board of Directors is completed pursuant to which holders of at least a
majority of the outstanding Common Stock tender or exchange their shares for other
securities, cash or property, or (iv) the Company effects any reclassification of the
Common Stock or any compulsory share exchange pursuant to which the Common Stock is
effectively converted into or exchanged for other securities, cash or property. In the
event of a Fundamental Transaction pursuant to which the securities, cash or property
issuable with respect to the outstanding Common Stock consist solely of cash and/or
securities traded on a national securities exchange or an established over-the-counter
market (the &#147;Alternate Consideration&#148;), this Warrant shall expire immediately
prior to the closing of the Fundamental Transaction. The Company shall not effect any
such Fundamental Transaction unless prior to or simultaneously with the consummation
thereof, any successor to the Company, surviving entity or the corporation purchasing or
otherwise acquiring such assets or other appropriate corporation or entity shall assume
the obligation to deliver to the Holder, such Alternate Consideration as, in accordance
with the foregoing provisions, the Holder shall be entitled to receive upon proper
exercise of this Warrant prior to such closing. In the event of a Fundamental Transaction
in which the consideration does not entirely consist of the Alternate Consideration, the
Company (or the successor entity) shall purchase this Warrant from the Holder by paying
to the Holder, within ten (10) Business Days after the closing of such Fundamental
Transaction cash in an amount equal to the Black Scholes Value (as reasonably determined
by the Board of Directors of the Company or the Company&#146;s financial advisor in the
Fundamental Transaction) of the remaining unexercised portion of this Warrant on the date
of such Fundamental Transaction determined as of the day immediately following the public
announcement of the applicable Fundamental Transaction.  </FONT></P></TD>
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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Number
of Warrant           Shares</U>. Simultaneously with any adjustment to the Exercise Price
pursuant to           paragraph (a) of this Section 9, the number of Warrant Shares that
may be           purchased upon exercise of this Warrant shall be increased or decreased
          proportionately, so that after such adjustment the aggregate Exercise Price
          payable hereunder for the adjusted number of Warrant Shares shall be the same
as           the aggregate Exercise Price in effect immediately prior to such adjustment.  </FONT></P></TD>
</TR>
</TABLE>
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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(e) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Calculations</U>.
All           calculations under this Section 9 shall be made to the nearest cent or the
          nearest 1/100th &nbsp;of a share, as applicable. The number of shares of Common
          Stock outstanding at any given time shall not include shares owned or held by
or           for the account of the Company, and the disposition of any such shares shall
be           considered an issue or sale of Common Stock.  </FONT></P></TD>
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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(f) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice
of           Adjustments</U>. Upon the occurrence of each adjustment pursuant to this
Section           9, the Company at its expense will, at the written request of the
Holder,           promptly compute such adjustment in accordance with the terms of this
Warrant           and prepare a certificate setting forth such adjustment, in good faith,
          including a statement of the adjusted Exercise Price and adjusted number or
type           of Warrant Shares or other securities issuable upon exercise of this
Warrant (as           applicable), describing the transactions giving rise to such
adjustments and           showing in detail the facts upon which such adjustment is
based. Upon written           request, the Company will promptly deliver a copy of each
such certificate to           the Holder and to the Company&#146;s transfer agent for the
Common Stock.  </FONT></P></TD>
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<font size=2>- 4 -</font></p>
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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(g) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice
of Corporate           Events</U>. If, while this Warrant is outstanding, the Company (i)
declares a           dividend or any other distribution of cash, securities or other
property in           respect of its Common Stock, including without limitation any
granting of rights           or warrants to subscribe for or purchase any capital stock
of the Company or any           Subsidiary, (ii) authorizes or approves, enters into any
agreement contemplating           or solicits stockholder approval for any Fundamental
Transaction or (iii)           authorizes the voluntary dissolution, liquidation or
winding up of the affairs           of the Company, then, except if such notice and the
contents thereof shall be           deemed to constitute material non-public information,
the Company shall deliver           to the Holder a notice describing the material terms
and conditions of such           transaction at least ten (10) Trading Days prior to the
applicable record or           effective date on which a Person would need to hold Common
Stock in order to           participate in or vote with respect to such transaction, and
the Company will           take all reasonable steps to give Holder the practical
opportunity to exercise           this Warrant prior to such time; <I>provided, however,</I> that
the failure to           deliver such notice or any defect therein shall not affect the
validity of the           corporate action required to be described in such notice.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;10. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Exercise           Price</U>. The Holder may pay the Exercise Price in one of the
following           manners:  </FONT></P>

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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cash
Exercise</U>. If           an Exercise Notice is delivered at a time when the
Registration Statement (or           another registration statement covering the exercise
of the Warrant) is           effective, then the Holder shall deliver immediately
available funds; or  </FONT></P></TD>
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</TABLE>
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<TD WIDTH=95%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cashless
Exercise</U>.           If an Exercise Notice is delivered at a time when the
Registration Statement is           not then effective, then the Holder shall notify the
Company in an Exercise           Notice of its election to utilize cashless exercise, in
which event the Company           shall issue to the Holder the number of Warrant Shares
determined as follows:  </FONT></P></TD>
</TR>
</TABLE>
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<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=10% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=85% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>X = Y [(A-B)/A]</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>where:</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>X = the number of Warrant Shares to be issued to the Holder.</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Y = the number of Warrant Shares with respect to which this Warrant is being exercised.</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>A = the closing price on the Trading Day immediately prior to the Exercise Date.</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>B = the Exercise Price then in effect.</FONT></TD></TR>
</TABLE>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations
on Exercise</U>. (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the
contrary contained herein, the number of Warrant Shares that may be acquired by the
Holder upon any exercise of this Warrant (or otherwise in respect hereof) shall be
limited to the extent necessary to ensure that, following such exercise (or other
issuance), the total number of shares of Common Stock then beneficially owned by the
Holder and its Affiliates and any other Persons whose beneficial ownership of Common
Stock would be aggregated with the Holder&#146;s for purposes of Section 13(d) of the
Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;), does not exceed 4.999% of
the total number of issued and outstanding shares of Common Stock (including for such
purpose the shares of Common Stock issuable upon such exercise). For such purposes,
beneficial ownership shall be determined in accordance with Section 13(d) of the Exchange
Act and the rules and regulations promulgated thereunder. Each delivery of an Exercise
Notice by the Holder will constitute a representation by the Holder that it has evaluated
the limitation set forth in this Section and determined that issuance of the full number
of Warrant Shares requested in such Exercise Notice is permitted under this Section.&nbsp; The
Company&#146;s obligation to issue shares of Common Stock in excess of the limitation
referred to in this Section shall be suspended (and, except as provided below, shall not
terminate or expire notwithstanding any contrary provisions hereof) until such time, if
any, as such shares of Common Stock may be issued in compliance with such limitation; <I>provided,
that</I>, if, as of the Expiration Time, the Company has not received written notice that
the shares of Common Stock may be issued in compliance with such limitation, the Company&#146;s
obligation to issue such shares shall terminate.&nbsp; This provision shall not restrict
the number of shares of Common Stock which a Holder may receive or beneficially own in
order to determine the amount of securities or other consideration that such Holder may
receive in the event of a Fundamental Transaction as contemplated in Section 9 of this
Warrant.&nbsp; By written notice to the Company, the Holder may waive the provisions of
this Section but any such waiver will not be effective until the sixty-first (61<SUP>st</SUP>)&nbsp;day
after such notice is delivered to the Company, nor will any such waiver affect any other
Holder.  </FONT></P>

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<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;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
 anything to the contrary contained herein, the number of Warrant Shares that may be
acquired by the Holder upon any exercise of this Warrant (or otherwise in respect hereof)
shall be limited to the extent necessary to ensure that, following such exercise (or
other issuance), the total number of shares of Common Stock then beneficially owned by
such Holder and its Affiliates and any other Persons whose beneficial ownership of Common
Stock would be aggregated with the Holder&#146;s for purposes of Section 13(d) of the
Exchange Act, does not exceed 9.999% of the total number of issued and outstanding shares
of Common Stock (including for such purpose the shares of Common Stock issuable upon such
exercise). For such purposes, beneficial ownership shall be determined in accordance with
Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
Each delivery of an Exercise Notice hereunder will constitute a representation by the
Holder that it has evaluated the limitation set forth in this Section and determined that
issuance of the full number of Warrant Shares requested in such Exercise Notice is
permitted under this Section.&nbsp; The Company&#146;s obligation to issue shares of
Common Stock in excess of the limitation referred to in this Section shall be suspended
(and, except as provided below, shall not terminate or expire notwithstanding any
contrary provisions hereof) until such time, if any, as such shares of Common Stock may
be issued in compliance with such limitation; provided , that, if, as of the Expiration
Time, the Company has not received written notice that the shares of Common Stock may be
issued in compliance with such limitation, the Company&#146;s obligation to issue such
shares shall terminate.&nbsp; This provision shall not restrict the number of shares of
Common Stock which a Holder may receive or beneficially own in order to determine the
amount of securities or other consideration that such Holder may receive in the event of
a Fundamental Transaction as contemplated in Section 9 of this Warrant.&nbsp; This
restriction may not be waived.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;12. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Fractional           Shares</U>. No fractional Warrant Shares will be issued in
connection with any           exercise of this Warrant. In lieu of any fractional shares
that would otherwise           be issuable, the Company shall pay cash equal to the
product of such fraction           multiplied by the closing price of one Warrant Share
as reported by the           applicable Trading Market on the Exercise Date.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;13. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
Any and           all notices or other communications or deliveries hereunder (including,
without           limitation, any Exercise Notice) shall be in writing and shall be
deemed given           and effective on the earliest of (i) the date of transmission, if
such notice or           communication is delivered via facsimile at the facsimile number
specified in           this Section at or prior to 10:00 a.m. (New York City time) on a
Trading Day,           (ii) the next Trading Day after the date of transmission, if such
notice or           communication is delivered via fax at the fax number specified in
this Section           on a day that is not a Trading Day or later than 10:00 a.m. (New
York City time)           on any Trading Day, (iii) the Trading Day following the date of
mailing, if sent           by nationally recognized overnight courier service, or (iv)
upon actual receipt           by the party to whom such notice is required to be given.
The addresses for such           notices or communications shall be:&nbsp; if to the
Company, to Pluristem           Therapeutics Inc., MATAM Advanced Technology Park,
Building No. 20, Haifa,           Israel, Attention: Chief Executive Officer, (Fax No.:
+972-74-7107173) (or such           other address as the Company shall indicate in
writing in accordance with this           Section) or (ii) if to the Holder, to the
address or facsimile number appearing           on the Warrant Register (or such other
address as the Holder shall indicate in           writing in accordance with this
Section).  </FONT></P>

<p align=center>
<font size=2>- 6 -</font></p>
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<page>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;14. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Warrant
Agent</U>. The           Company shall serve as warrant agent under this Warrant. Upon
thirty (30)           days&#146; notice to the Holder, the Company may appoint a new
warrant agent.           Any corporation into which the Company or any new warrant agent
may be merged or           any corporation resulting from any consolidation to which the
Company or any new           warrant agent shall be a party or any corporation to which
the Company or any           new warrant agent transfers substantially all of its
corporate trust or           shareholders services business shall be a successor warrant
agent under this           Warrant without any further act. Any such successor warrant
agent shall promptly           cause notice of its succession as warrant agent to be
mailed (by first class           mail, postage prepaid) to the Holder at the Holder&#146;s
last address as shown           on the Warrant Register.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;15. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous</U>.  </FONT></P>

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<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;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Warrant shall be           binding on and inure to the benefit of the parties hereto and
their respective           successors and assigns. Subject to the preceding sentence,
nothing in this           Warrant shall be construed to give to any Person other than the
Company and the           Holder any legal or equitable right, remedy or cause of action
under this           Warrant. This Warrant may be amended only in writing signed by the
Company and           the Holder, or their successors and assigns.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

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<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;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
questions concerning           the construction, validity, enforcement and interpretation
of this Warrant shall           be governed by and construed and enforced in accordance
with the internal laws           of the State of New York, without regard to the
principles of conflicts of law           thereof. Each party agrees that all legal
proceedings concerning the           interpretations, enforcement and defense of this
Warrant and the transactions           herein contemplated (&#147;Proceedings&#148;)
(whether brought against a party           hereto or its respective Affiliates, employees
or agents) shall be commenced           exclusively in the New York Courts. Each party
hereto hereby irrevocably submits           to the exclusive jurisdiction of the New York
Courts for the adjudication of any           dispute hereunder or in connection herewith
or with any transaction contemplated           hereby or discussed herein, and hereby
irrevocably waives, and agrees not to           assert in any Proceeding, any claim that
it is not personally subject to the           jurisdiction of any New York Court, or that
such Proceeding has been commenced           in an improper or inconvenient forum. Each
party hereto hereby irrevocably           waives personal service of process and consents
to process being served in any           such Proceeding by mailing a copy thereof via
registered or certified mail or           overnight delivery (with evidence of delivery)
to such party at the address in           effect for notices to it under this Warrant and
agrees that such service shall           constitute good and sufficient service of
process and notice thereof. Nothing           contained herein shall be deemed to limit
in any way any right to serve process           in any manner permitted by law. Each
party hereto hereby irrevocably waives, to           the fullest extent permitted by
applicable law, any and all right to trial by           jury in any legal proceeding
arising out of or relating to this Warrant or the           transactions contemplated
hereby. If either party shall commence a Proceeding to           enforce any provisions
of this Warrant, then the prevailing party in such           Proceeding shall be
reimbursed by the other party for its attorney&#146;s fees           and other costs and
expenses incurred with the investigation, preparation and           prosecution of such
Proceeding.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

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<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;(c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
headings herein are           for convenience only, do not constitute a part of this
Warrant and shall not be           deemed to limit or affect any of the provisions
hereof.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

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<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;(d) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case any one or more           of the provisions of this Warrant shall be invalid or
unenforceable in any           respect, the validity and enforceability of the remaining
terms and provisions           of this Warrant shall not in any way be affected or
impaired thereby and the           parties will attempt in good faith to agree upon a
valid and enforceable           provision which shall be a commercially reasonable
substitute therefore, and           upon so agreeing, shall incorporate such substitute
provision in this Warrant.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

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<page>

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<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;(e) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to exercise of this           Warrant, the Holder hereof shall not, by reason of by being
a Holder, be           entitled to any rights of a stockholder with respect to the
Warrant Shares.  </FONT></P></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its authorized
officer as of the date first indicated above. </FONT></P>

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<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>PLURISTEM THERAPEUTICS INC.<BR><BR>
<BR>By: /s/ Yaky Yanay<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Yaky Yanay<BR>Chief Financial Officer</FONT></TD>
</TR>
</TABLE>
<BR>

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<page>







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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PLURISTEM THERAPEUTICS
INC. </FONT></P>

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

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WARRANT ORIGINALLY
ISSUED SEPTEMBER __, 2008 </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WARRANT NO. _________ </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Default" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Ladies and Gentlemen: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) &nbsp;&nbsp;&nbsp;&nbsp;The
 undersigned   hereby  elects  to  exercise  the   above-referenced   Warrant  with
 respect  to                 shares of Common Stock.   Capitalized  terms used herein and
not otherwise  defined herein have the respective meanings set forth in the Warrant.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) &nbsp;&nbsp;&nbsp;&nbsp;The
Holder intends that payment of the Exercise Price shall be made as (check one):  </FONT></P>

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<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=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>    <FONT size="3" face="Wingdings">o
</font>                            </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Cash  Exercise
under Section 10(a)</FONT></TD>
</TR>
</TABLE>
<BR>

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<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=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>   <FONT size="3" face="Wingdings">o
</font>                             </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Cashless Exercise
under Section 10(b)</FONT></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>(3) &nbsp;&nbsp;&nbsp;&nbsp;If the
Holder has elected a Cash Exercise, the holder shall pay the sum of $&nbsp;______________&nbsp; to
the Company in accordance with the terms of the Warrant.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4) &nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to this Exercise Notice, the Company shall deliver to the Holder the number of Warrant
Shares determined in accordance with the terms of the Warrant.  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 0- TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(5) &nbsp;&nbsp;&nbsp;&nbsp;By its
delivery of this Exercise Notice, the undersigned represents and warrants to the Company
that in giving effect to the exercise evidenced hereby the Holder will not beneficially
own in excess of the number of shares of Common Stock (as determined in accordance with
Section 13(d) of the Securities Exchange Act of 1934) permitted to be owned under Section
11 of this Warrant to which this notice relates.  </FONT></P>



<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Dated: ___________________________________________</FONT></TD>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>HOLDER:</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;______________________________________________</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Print name &#134;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>By: ____________________________________________</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Title: ___________________________________________</FONT></TD></TR>
</TABLE>
<BR>





<p align=center>
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<page>


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

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WARRANT ORIGINALLY
ISSUED SEPTEMBER __, 2008 </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>WARRANT NO. _________ </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM OF ASSIGNMENT <BR>To be completed and
signed only upon transfer of Warrant </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FOR VALUE RECEIVED, the undersigned
hereby sells, assigns and transfers unto _________________ the right represented by the
within Warrant to purchase _________________ shares of Common Stock to which the within
Warrant relates and appoints __________________ attorney to transfer said right on the
books of the Company with full power of substitution in the premises. </FONT></P>



<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=100%>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman" SIZE=1></FONT></TH>
     <TH><FONT FACE="Times New Roman" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Dated:__________________________</FONT></TD>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>TRANSFEROR:</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>______________________________</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Print name &#134;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>By:___________________________</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Title:__________________________</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>TRANSFEREE:</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>______________________________</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Print name &#134;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>By: ___________________________</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Title:__________________________</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>WITNESS:</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Address of Transferee:</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>__________________________</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Print name &#134;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>__________________________</FONT></TD></TR>

<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>__________________________</FONT></TD></TR>
</TABLE>
<BR>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>exhibit_5-1.htm
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     <!-- Control Number: 85832                                                            -->
     <!-- Rev Number:     1                                                                -->
     <!-- Client Name:    Pluristem Therapeutics Inc                                       -->
     <!-- Project Name:   8-K                                                              -->
     <!-- Firm Name:      Zadok-Keinan Ltd                                                 -->
     <TITLE>8-K</TITLE>
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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U><B>Exhibit 5.1</B></U> </FONT> </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Zysman, Aharoni, Gayer
&amp; Co./Sullivan &amp; Worcester LLP <BR>One Post Office Square <BR>Boston, MA 02109 </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>September 22, 2008 </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pluristem Therapeutics
Inc. <BR>Matam Advanced Technology Park <BR>Building No. 20  <BR>Haifa 31905,
Israel </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Re: Sale of Shares and Warrants
pursuant to<BR> Registration Statement on Form S-3 </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Ladies and Gentlemen: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
opinion is furnished to you in connection with a shelf Registration Statement on Form S-3
(the &#147;Registration Statement&#148;) and related prospectus supplement (the &#147;Prospectus
Supplement&#148;) filed or to be filed with the Securities and Exchange Commission (the
&#147;Commission&#148;) under the Securities Act of 1933, as amended (the &#147;Securities
Act&#148;), with respect to the sale &#147;off the shelf&#148; of 900,000 shares of your
common stock (the &#147;Shares&#148;) and warrants to purchase 675,000 shares of common
stock (the &#147;Warrants&#148; and, together with the Shares, the &#147;Securities&#148;).
You are a Nevada corporation and are referred to herein as the &#147;Company.&#148; </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are acting as counsel for the Company in connection with the registration and sale of the
Securities. We have examined copies of the Registration Statement and Prospectus
Supplement filed or to be filed with the Commission. We have also examined and relied
upon minutes of meetings of the stockholders and the Board of Directors of the Company as
provided to us by the Company, stock record books of the Company as provided to us by the
Company, the Certificate of Incorporation and By-Laws of the Company, each as restated
and/or amended to date (collectively the &#147;Charter Documents&#148;), and such other
documents as we have deemed necessary for purposes of rendering the opinions hereinafter
set forth.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
our examination of the foregoing documents, we have assumed the genuineness of all
signatures, the authenticity of all documents submitted to us as originals, the
conformity to original documents of all documents submitted to us as copies, the
authenticity of the originals of such latter documents and the legal competence of all
signatories to such documents.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of our opinion, we have examined an official compilation of &#147;Title 7 &#150;Business
Associations; Securities; Commodities, Chapter &#150; 78 &#150; Private Corporations&#148; of
the Nevada Revised Statutes (such examination being limited to the provisions of such
statutes only, and not including any annotations or commentary). We do not purport to be
experts on the laws of the State of Nevada, and with your permission our opinion is based
upon such limited experience. Other than such examination and our examination of the
documents indicated above, we have made no other examination in connection with this
opinion. We express no opinion herein concerning the federal laws of the United States of
America or any state securities or blue sky laws. We assume that the appropriate action
will be taken, prior to the offer and sale of the Shares, to register and qualify the
Shares for sale under all applicable state securities or &#147;blue sky&#148; laws.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
upon and subject to the foregoing, we are of the opinion that: (i) when issued at the
closing for the sale of the Securities against receipt of the purchase price therefor,
the Shares and the Warrants will be validly issued, fully paid and nonassessable, and
(ii) the shares of common stock issued upon proper exercise of the Warrants and receipt
of the exercise price therefor, will be validly issued, fully paid and nonassessable.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please
note that we are opining only as to the matters expressly set forth herein, and no
opinion should be inferred as to any other matters. This opinion is based upon currently
existing statutes, rules, regulations and judicial decisions, as further limited above,
and we disclaim any obligation to advise you of any change in any of these sources of law
or subsequent legal or factual developments which might affect any matters or opinions
set forth herein.  </FONT></P>


<p align=center>
<font size=2></font></p>
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<page>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
hereby consent to the filing of this opinion with the Commission as an exhibit to the
Form 8-K of the Company being filed on the date hereof in accordance with the
requirements of Item 601(b)(5) of Regulation S-K under the Securities Act. In giving such
consent, we do not hereby admit that we are in the category of persons whose consent is
required under Section 7 of the Securities Act or the rules and regulations of the
Commission.  </FONT></P>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Very truly yours, </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ Zysman, Aharoni,
Gayer &amp; Co./ <BR>Sullivan &amp; Worcester LLP </FONT></P>

<p align=center>
<font size=2>2</font></p>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>4
<FILENAME>exhibit_10-1.htm
<TEXT>
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     <!-- Project:        F:\EDGAR Filing\Pluristem Therapeutics Inc\85832\a85832.eep      -->
     <!-- Control Number: 85832                                                            -->
     <!-- Rev Number:     1                                                                -->
     <!-- Client Name:    Pluristem Therapeutics Inc                                       -->
     <!-- Project Name:   8-K                                                              -->
     <!-- Firm Name:      Zadok-Keinan Ltd                                                 -->
     <TITLE>8-K</TITLE>
</HEAD>
<BODY>

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<P align=right><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U><B>Exhibit 10.1</B></U> </FONT> </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES PURCHASE
AGREEMENT </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement (this &#147;<U>Agreement</U>&#148;) is dated September 10, 2008, and is between
Pluristem Therapeutics Inc., a Nevada corporation (the &#147;<U>Company</U>&#148;), and
Bangor Holdings Ltd. and assignees, a British Virgin Islands company (the
&#147;<U>Purchaser</U>&#148;). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company and the Purchaser agree as follows: </FONT></P>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ARTICLE 1 <BR>PURCHASE AND SALE </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1
<U>Closing</U>. </FONT> </P>


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<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;(a)
<U>Securities Purchased</U>. At the closing of the transactions contemplated
               hereby (the &#147;<U>Closing</U>&#148;), the Company will sell and the
Purchaser                will purchase the following securities of the Company for an
aggregate purchase                price of up to US$2,000,000 (the &#147;<U>Purchase Price</U>&#148;):  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
               900,000 shares of Common Stock at a price of $1.15 per share, or an
aggregate                purchase price of $1,035,000 (the &#147;<U>Registered Shares</U>&#148;);  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)
               The Purchaser has the option, to notify the Company no later than
September 19,                2008 of its intent to purchase additional 643,333 shares of
Common Stock at a                purchase price of $1.50 per share, or an aggregate
purchase price of $965,000                (the &#147;<U>Unregistered Shares</U>&#148;);
and  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) &#150;
warrants to purchase 675,000 shares of Common Stock. In the event that Purchaser
exercises the option mentioned in (ii) above, the Company will sell additional warrants
to purchase 643,333 shares of Common Stock, so the aggregate number of warrants shall be
1,318,333, each at an exercise price of $1.90 per share, no separate consideration being
paid for such warrants (the &#147;<U>Warrants</U>&#148;). (The Registered Shares and the
Unregistered Shares are referred to as the &#147;<U>Shares</U>&#148;, the shares issuable
upon exercise of the Warrants are referred to as the &#147;<U>Warrant Shares</U>&#148; and
all of the foregoing are referred to as the <U>&#147;Securities</U>&#148;.) </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<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;(b)
<U>Closing Deliveries</U>. The Closing shall take place on no less than five
               days notice from the Company to the Purchaser, with the Closing to be held
no                later than September 22, 2008. At the Closing, the Purchaser shall
deliver to                the Company immediately available funds equal to the Purchase
Price, and the                Company shall deliver to the Purchaser the Securities,
effected by delivering to                the Purchaser a copy of the irrevocable
instructions to the Company&#146;s                transfer agent instructing the transfer
agent to deliver the Shares via                overnight courier share certificates or
via the Depository Trust Company Deposit                Withdrawal Agent Commission
System, and delivery of the Warrants (which may                initially be an electronic
copy, to be followed immediately by the original                executed Warrants), in
each case in the name of the Purchaser. The Warrants are                five-year
warrants and shall be in the form previously provided to the                Purchaser.
The obligations of the Company and the Purchaser to effect the                Closing are
unconditional.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

<p align=center>
<font size=2>1</font></p>
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<page>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ARTICLE 2 <BR>REPRESENTATIONS AND
WARRANTIES </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1
<U>Representations and Warranties of the Company.</U> </FONT> </P>


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<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;(a)
<U>Organization and Qualification</U>. The Company is a corporation duly
               incorporated, validly existing and in good standing under the laws of the
State                of Nevada, with the requisite power and authority to own and use its
properties                and assets and to carry on its business as currently conducted.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<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;(b)
<U>Authorization; Enforcement</U>. The Company has the requisite corporate power
               and authority to enter into and to consummate the transactions
contemplated                hereby. The execution and delivery of this Agreement by the
Company and the                consummation by it of the transactions contemplated
hereby, including the                issuance of the Securities, has been duly authorized
by all necessary action on                the part of the Company. This Agreement is the
valid and binding obligation of                the Company enforceable against the
Company in accordance with its terms.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<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;(c)
<U>Issuance of the Securities; Registration</U>. The Securities are duly
               authorized and, when issued and paid for in accordance with this
Agreement, will                be duly and validly issued, fully paid and nonassessable.
The Warrant Shares,                when issued in accordance with the terms of the
Warrants, will be validly                issued, fully paid and nonassessable. The
Registered Shares have been duly                registered under the Securities Act of
1933 (the <U>&#147;Securities                Act</U>&#148;).  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<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;(d)
<U>SEC Reports</U>. The Company has timely filed all reports, schedules, forms,
               statements and other documents required to be filed by the Company under
the                Securities Exchange Act of 1934 (the &#147;<U>Exchange Act</U>&#148;)
for at                least the one year preceding the date hereof (or such shorter
period as the                Company was required to do so) (the &#147;<U>SEC Reports</U>&#148;).
As of their                respective dates, the SEC Reports complied in all material
respects with the                requirements of the Exchange Act, as applicable, and
none of the SEC Reports,                when filed, contained any untrue statement of a
material fact or omitted to                state a material fact required to be stated
therein or necessary in order to                make the statements therein, in light of
the circumstances under which they were                made, not misleading.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<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;(e)
<U>Material Adverse Change</U>. Since the date of the latest SEC Report, there
               has been no material adverse change in the business or financial condition
of                the Company.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2
<U>Representations and Warranties of the Purchaser</U>. The Purchaser hereby
represents and warrants as follows: </FONT> </P>


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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
<U>Organization; Authority</U>. The Purchaser is an entity duly organized,
               validly existing and in good standing under the laws of the jurisdiction
of its                organization with full right, corporate or partnership power and
authority to                enter into and to consummate the transactions contemplated by
this Agreement and                otherwise to carry out its obligations hereunder and
thereunder. The execution                and delivery of this Agreement and performance
by the Purchaser of the                transactions contemplated by this Agreement have
been duly authorized by all                necessary corporate or similar action on the
part of the Purchaser. This                Agreement has been duly executed by the
Purchaser, and is the valid and legally                binding obligation of the
Purchaser, enforceable against it in accordance with                its terms.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
<U>Own Account</U>. The Purchaser is acquiring the Securities as principal for
               its own account and not and will not acquire the Unregistered Shares, the
               Warrants or the Warrant Shares with a view to or for distributing or
reselling                them in violation of the Securities Act or any applicable state
securities law,                has no present intention of distributing any of them in
violation of the                Securities Act or any applicable state securities law and
has no direct or                indirect arrangement or understandings with any other
persons to distribute or                regarding their distribution of such Securities.  </FONT>
</TD>
</TR>
</TABLE>
<BR>



<p align=center>
<font size=2>2</font></p>
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<page>

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<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;(c)
<U>Regulation S</U>. The Purchaser makes the following representations related
               to Regulation S under the Securities Act: (i) it is not a &#147;U.S.
               Person&#148; as that term is defined in Rule 902 of Regulation S under the
               Securities Act; and received all communications relating to the issuance
of the                Shares, and executed all documents relating thereto, outside the
United States;                and (ii) it agrees to resell the Unregistered Shares, the
Warrants and the                Warrant Shares only in accordance with the provisions of
Regulation S, or                pursuant to an available exemption from the registration
requirements of the                Securities Act, and further agrees not to engage in
hedging transactions with                regard to such securities unless in compliance
with the Securities Act.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ARTICLE 3<BR>OTHER AGREEMENTS OF THE
PARTIES </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1
<U>Publicity</U>. The parties agree that this Agreement and the transactions contemplated
hereby will remain confidential until the Company files a Form 8-K with the Securities and
Exchange Commission disclosing this Agreement. The Purchaser agrees not to effect any
purchase or sale of the securities of the Company until after such filing is made. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2
<U>Registration Rights</U>. The Company undertakes to register the resale of the
Unregistered Shares (if the Purchaser exercised the option in Section 1. (a)(ii) above)
and the Warrant shares under the Securities Act. The Company will file a registration
statement with respect thereto within 120 days after the date hereof and will use its best
efforts to cause the registration to be declared effective as soon as practical
thereafter. The Company also agrees to deliver to the Purchaser prior to the filing of the
registration statement an agreement providing customary indemnification to the Purchaser
in respect of any material misstatements or material omissions from the registration
statement. </FONT></P>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ARTICLE 4<BR>SMISCELLANEOUS </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1
<U>Fees and Expenses</U>. Each party shall pay the fees and expenses of its advisers,
counsel, accountants and other experts, if any, and all other expenses incurred by such
party in connection with this Agreement. Purchaser acknowledge that the Company shall pay
a transaction fee to finders equal to 6% of the actual Purchase Price and five-year
warrants at an exercise price of $1.50 per share to purchase such number of the
Company&#146;s shares of Common Stock that equals 6% of the actual Purchase Price divided
by $1.50. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2
<U>Notices</U>. Any and all notices or other communications or deliveries required or
permitted to be provided hereunder shall be in writing and shall be deemed given and
effective on the earliest of: (a) the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile number or by email to the email
address set forth on the signature page or (c) upon actual receipt by the party to whom
such notice is required to be given. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3
<U>Successors and Assigns</U>. This Agreement shall be binding upon and inure to the
benefit of the parties and their successors. This Agreement is not assignable by either
party. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4
<U>Governing Law</U>. All questions concerning the construction, validity, enforcement and
interpretation of this Agreement shall be governed by and construed and enforced in
accordance with the internal laws of the State of New York. Each party agrees that all
legal proceedings concerning the interpretations, enforcement and defense of the
transactions contemplated by this Agreement (whether brought against a party hereto or its
respective affiliates, directors, officers, shareholders, employees or agents) shall be
commenced exclusively in the state and federal courts sitting in the City of New York.
Each party hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in the City of New York, borough of Manhattan for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein (including with respect to the enforcement of this Agreement). </FONT></P>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>[Signature page
immediately follows.] </I></FONT></P>

<p align=center>
<font size=2>3</font></p>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be
duly executed by their respective authorized signatories as of the date first indicated
above. </FONT></P>



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     <TH><FONT FACE="Times New Roman" SIZE=1></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>PLURISTEM THERAPEUTICS INC.</FONT></TD>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>BANGOR HOLDINGS LTD.</FONT></TD></TR>
</TABLE>
<BR>



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<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
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<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By: /s/ Zami Aberman<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
<BR>
&nbsp;&nbsp;&nbsp;Name:  Zami Aberman<BR>&nbsp;&nbsp;&nbsp;Title: &nbsp;&nbsp;President &amp; CEO </FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
By: /s/ Michael A, BARTH<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
&nbsp;&nbsp;&nbsp;Name:  Michael A, BARTH<BR>&nbsp;&nbsp;&nbsp;Title: &nbsp;&nbsp;Director</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
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<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Office Address: Matam Advanced<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Park, Bld 20<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
</FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Office Address: Wickham`s Cay, Road Town,<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tortols British Virgin Islands<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
</FONT></TD>
</TR>
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<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Fax No. +972-74-7107173<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
</FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Fax No. +1 284 494 4980<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Email Address: yaky@Pluristem.com<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
</FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Email Address: bvi@arifa.com<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;
</FONT></TD>
</TR>
</TABLE>
<BR>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dated: 22.09.08 </FONT></P>

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