Appointment of Chief Financial Officer

20 September 2011

Amiad Water Systems Ltd.

("Amiad" or the "Company")

Appointment of Chief Financial Officer

Amiad, a leading global producer of water treatment and filtration solutions, announces the appointment of Amir Harel as Chief Financial Officer of the Company, replacing Rivka Kalmanzon, with effect from 3 October 2011. At present, Mr. Harel will not be appointed to the Board of Amiad. 

Mr. Harel joins Amiad from InSightec Ltd., where he held the positions of Vice President and Chief Financial Officer since August 2005. He has over 17 years of capital markets experience with several Israeli and international companies, working for both private and public businesses listed on the NASDAQ and TASE stock exchanges. During his career, he has been responsible for a broad range of activities such as accounting, financial planning and controlling, contract negotiation and investor relations. He also has planned and executed significant financial transactions such as a $1.5 billion project to build a new semiconductor facility whilst serving as Vice President & Chief Financial Officer of Tower Semiconductor Ltd. (NASDAQ: TSEM; TASE: TSEM) from December 1998 to November 2004.

Tal Yeshua, Chairman of Amiad, said: "We would like to thank Rivka for her service over the last two years and for her dedication during a time of great change for Amiad. As we now look to the future, we are delighted to welcome Amir to the management team, whose experience and skill set are well suited to facilitate Amiad's development to the next level as we continue to grow and progress."

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