This is MUST read. U can see the dual faces of the largest and biggest corporate giant of India. THE CPM

1. ISRAEL RELATION – DUAL FACE CPM
Bengal Ambuja, Israeli co plan hospital chain
Bengal Ambuja has entered into a strategic alliance with Elbit Medical Imaging (EMI) of Israel to
develop a multi-speciality hospital and biotech research centre in Kolkata and other towns in
West Bengal. The agreement entails capital investment of Rs 1,000 crore over a span of five to
seven years on a 50:50 joint venture basis for a total built-up area of 2.5 million sq ft.
In the first phase, a 1,000-bed multi-speciality tertiary care hospital and biotech research centre
will be developed in Kolkata, for which a 25- acre plot has been identified near the Peerless
Hospital on the Eastern Metropolitan Bypass.
Contact: Bengal Ambuja. Tel: 033-2285 0028.
Fax: 033-2285 0610. Email: ktg@bengalambuja.com
Website: www.bengalambuja.com
About Ambuja Realty
In the early 90’s Bengal Ambuja Housing Development Limited (BAHDL) was set up as a joint
initiative between West Bengal Housing Board and Gujarat Ambuja Cements Limited. BAHDL
now is a joint venture between West Bengal Housing Board and Ambuja Housing and Urban
Infrastructure Company Limited consequent upon the divestment of Gujarat Ambuja Cements
Ltd’s stake.
Over the years the company has developed excellent professional expertise in developing
housing and other infrastructure projects in association with WBHB, Asansol - Durgapur
Development Authority, Burdwan Zilla Parishad and Sriniketan Shantiniketan Development
Authority. Its signature projects are Udayan, (The Condoville along the Eastern Metropolitan
Bypass), Utsa and Ujjwala (The condoville at New Town, Rajarhat).
Currently, the Ambuja Realty group is being led by Shri Harshvardhan Neotia under the
guidance of group patriarchs Shri Suresh Neotia and Shri Vinod Neotia
Bengal Ambuja, Israeli co plan hospital chain
Bengal Ambuja has entered into a strategic alliance with Elbit Medical Imaging (EMI) of Israel to
develop a multi-speciality hospital and biotech research centre in Kolkata and other towns in
West Bengal. The agreement entails capital investment of Rs 1,000 crore over a span of five to
seven years on a 50:50 joint venture basis for a total built-up area of 2.5 million sq ft.
In the first phase, a 1,000-bed multi-speciality tertiary care hospital and biotech research centre
will be developed in Kolkata, for which a 25- acre plot has been identified near the Peerless
Hospital on the Eastern Metropolitan Bypass.
Contact: Bengal Ambuja. Tel: 033-2285 0028.
Fax: 033-2285 0610. Email: ktg@bengalambuja.com
Website: www.bengalambuja.com

2. ELBIT MEDICAL IMAGING LTD. ANNOUNCES STRATEGIC TIE UP WITH
AMBUJA REALTY FOR DEVELOPMENT OF A PAN- INDIA WORLD CLASS
STANDARD HOSPITAL CHAIN
Tel Aviv, Israel, December 11, 2006 - Elbit Medical Imaging Ltd.
(NASDAQ: EMITF)
(quot;EMIquot; or the quot;Companyquot;) and Ambuja Realty Group of India announced
today that
they have entered into a strategic joint venture to develop and operate
a chain
of multi-specialty tertiary hospitals in India to address the emerging
need of
specialized medical care in India. It is anticipated that the chain
will include
hospitals in major metropolitan areas of India. The first hospital in
the chain
will be a 1000 bed multi-specialty tertiary hospital and biotech
research centre
in Kolkata, to be named quot;The Neotia Elbit Healthcitiquot;. The project will
also
include ancillary services such as a Biotech Research Centre, serviced
apartments for patients' families, a medical mall, an alternative
medicine
centre, and a nursing training institute. The total built up area of
the project
is anticipated to be approximately 250,000 square meters (approximately
2.5
million square feet), and the capital investment in the Kolkata project
will be
approximately INR 1,000 crores (approximately US $230 million) over a
period of
several years.
The Initial Agreement to this effect was signed today by Mr.
Harshavardhan
Neotia, Managing Director of Ambuja Realty Group and by EMI's Executive
Chairman
of the Board of Directors, Mr. Mordechay Zisser, and by Vice Chairman
of the

3. Board of Directors, Mr. Abraham (Rami) Goren, in Kolkata in the
presence of
Honorable Chief Minister of West Bengal Sri Buddhadeb Bhattcharjee and
His
Excellency Mr. David Danieli, Ambassador of Israel.
EMI, through its various activities in the field of medical devices and
biotechnology, through its controlled subsidiaries Insightec Ltd.
(quot;Insightecquot;)
and Gamida Cell Ltd. (quot;Gamida Cellquot;) has ongoing relationships with
numerous
medical centers in Israel and abroad. It is anticipated that the new
hospital
chain will have close collaboration with both Insightec and Gamida Cell
in the
field of clinical trials and research and close ties with several
medical
centers in Israel and abroad for telemedicine, specialty treatments and
training
of personnel.
The Ambuja Realty Group is engaged in the residential and commercial
sectors,
which includes IT parks, retail malls and Special Economic Zones, Theme
parks,
hotels and banquets, education and healthcare centers, and is chaired
by Mr.
Suresh Kumar Neotia who is also a founder promoter of Gujarat Ambuja
Cements
Limited (GACL) - one of India's largest cement Companies. Mr.
Harshavardhan

4. Neotia is the Managing Director of the Ambuja Realty Group.
Bhagirathi Neotia Woman & Child Care Centre (BNWCCC) is Neotia's first
healthcare venture. BNWCCC caters to specialties like high risk
pregnancies,
advanced laparoscopic surgeries, paediatric surgeries and treatment of
very low
birth-weight babies. The Centre has recently set up an infertility
clinic named
Genomee in collaboration with Herzliya Medical Centre of Israel.
EMI has been active in India for a period of approximately twelve
months, and
has concluded transactions for three additional projects in India: (i)
The
Koregaon Park Project located in Pune for the development of a shopping
and
entertainment center together with office facilities with a total built
up area
of approximately 100,000 square meters (inclusive of parking places)
(approximately 1,100,000 square feet), which shall be transferred to
EMI's
controlled subsidiary company Plaza Centers N.V. (quot;Plaza Centersquot;),
subject to
approval of Plaza Center's board of directors) and under a project
sourcing
agreement signed between those two companies; (ii) the Kharadi project,
also

5. located in Pune - which is comprised of a shopping and entertainment
center
together with an office block and an apartment hotel with a total built
up area
of approximately 240,000 square (inclusive of parking places)
(approximately
2.64 million square feet), which shall be executed and jointly held by
EMI and
Plaza Centers (subject to approval of Plaza Center's board of
directors), and;
(iii) the Cochin I Project located in Cochin, for the construction of a
residential apartment building, an hotel and a marina with a total
built up
areas of approximately 800,000 square meters (inclusive of parking
places)
(approximately 8.8 million square feet), which will be executed by EMI.
All of
these projects are to be executed in collaboration with local partners,
each of
whom is a leading property developer in the relevant cities.
In addition to these projects, EMI, together with Plaza Centers, is in
the
process of evaluating and examining several other projects in various
parts of
India, with a strong focus on the leading metropolitan areas in South
India.

6. Mr. Mordechay Zisser, Executive Chairman of the Board, commented: quot;We
are
especially gratified to be joining forces with the Ambuja Realty Group
and with
the prestigious Neotia Family in this promising project. It is
envisaged that
this project will offer huge potential for growth while at the same time
catering for an ever growing need for specialized medical treatment
centers in
India. Furthermore, EMI's existing investments in Insightec and Gamida
Cell have
a clear synergy with this new and very exciting project.quot;
quot;Our group's pioneering spirit is constantly leading us into new areas.
We have
been well known as market leaders. In our commercial projects, EMI will
bring
the added benefit of eleven years of expertise and experience gained in
Eastern
Europe in the penetration of markets in relatively low income emerging
nations
within a strong regulatory environment. In the health care projects,
Israel's
advanced medical systems and infrastructures will enable EMI to
accelerate these
projects and to become a leading foreign developer in this market and
combine
EMI's philosophy of doing good business while at the same time helping
people in

7. need.quot;
About Elbit Medical Imaging Ltd.
EMI is a subsidiary of Europe Israel (M.M.S.) Ltd. EMI's activities are
divided
into four
principal fields: (i) Initiation, construction, operation, management
and sale
of shopping and entertainment centers in Israel and in Central and
Eastern
Europe; (ii) Hotels ownership, primarily in major European cities, as
well as
operation, management and sale of same through its subsidiary, Elscint
Ltd.;(iii) Investments in the research and development, production and
marketing
of magnetic resonance imaging guided focused ultrasound treatment
equipment,

8. through its subsidiary, InSightec Ltd. and (iv) Other activities
consisting of
the distribution and marketing of women's fashion and accessories
through our
wholly-owned Israeli subsidiary, Mango, and venture-capital investments.
Any forward looking statements with respect to EMI's business, financial
condition and results of operations included in this release are
subject to
risks and uncertainties that could cause actual results to differ
materially
from those contemplated in such forward looking statements, including,
but not
limited to, product demand, pricing, market acceptance, changing
economic
conditions, risks in product and technology development and the effect
of EMI's
accounting policies, as well as certain other risk factors which are
detailed
from time to time in EMI's filings with the Securities and Exchange
Commission
including, without limitation, Annual Report on Form 20-F for the
fiscal year
ended December 31, 2005, filed with the Securities and Exchange
Commission on
June 30, 2006.

9. For Further Information:
Company Contact Investor Contact
Shimon Yitzhaki Kathy Price
Elbit Medical Imaging Ltd. The Global Consulting Group
(972-3) 608-6000 1-646-284-9430
shimony@elbitimaging.com kprice@hfgcg.com
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Basu on visit to Israel
JERUSALEM, June 30: West Bengal Chief Minister Jyoti Basu arrived here last night on a week-
long tour to Israel to seek investment opportunities in the state and collaboration in agriculture
development and other high-tech areas, particularly information technology and electronics.
Basu, who is heading a 25-member business delegation from the state, is expected to meet Prime
Minister Ehud Barak, former premier Shimon Peres and other political leaders during his stay in
Israel.
West Bengal Chief Minister’s maiden trip here, first by a senior Communist leader, assumes added
significance as Left Parties had been opposed to establishment of diplomatic ties with the Jewish
state in the past. India and Israel established full fledged diplomatic ties in 1992.
Official sources said a number of companies from West Bengal had expressed interest in
collaboration with their Israeli counterparts in high-tech areas like information technology and
electronics, apart from agriculture where Israel has gained famed expertise. Some agreements are
expected in be signed in this regard.
Basu’s trip is a follow up move to an exploratory visit by CPI(M) MP and West Bengal Industrial
Development Corporation chairman Somnath Chatterjee, who had led a similar delegation to Israel
in 1998. (PTI)

10. INDIAINFOM.COM
Basu?s high praise for Israel
Shyam Bhatia, indiainfo.com
July 13, 2000 7.45 hrs (IST)
London: quot;India and the whole world want the Middle East peace process to succeed, but the ruling Israeli
Labor Party is divided and Palestinian President Yasser Arafat also has his own problems,quot; West Bengal
Chief Minister Jyoti Basu told indiainfo.com.
Basu, who stopped over in London on his way back to India from an official visit to Israel, described Israeli
Prime Minister Ehud Barak as a quot;good manquot; and said former Israeli Prime Minister Shimon Peres, who is
the favourite to be the Jewish state's next president, as quot;committed to peace.quot;
Basu's observations were made as Israeli and Palestinian negotiators at Camp David in the United States try
and negotiate a final settlement that will lead to the creation of an independent Palestinian state.
Basu said he had no problem with visiting Israel and explained how an invitation from Tel Aviv had been
pending for two years. He decided to take it up when the outgoing Israeli ambassador to New Delhi called
on him at his Calcutta home and urged him to accept his government's long standing invitation.
Basu was accompanied on his trip to Israel by Somnath Chatterjee, MP and the Communist Party of India
(Marxist) leader in the Rajya Sabha. Both were clearly impressed by what they saw. Basu described Israel
as quot;a small countryquot;, but quot;full of high tech.quot;
Speaking in London Wednesday night to a crowd of well wishers who were invited to meet him at India
House, Basu said he was a student in London 1940 and had been a frequent visitor to the British capital
since independence.
Turning to the issue of industrial relations in his home state of West Bengal, Basu said he fully supported
workers who demanded their rights. quot;But we have told them that if they can get what they want by
negotiation, so much the better. We have also encouraged employers to talk to the workers.quot;