Company Update

Emblaze Ltd (LSE:BLZ) ("Emblaze" or "the Company") Company Update BGI Investments (1961) Ltd. Cash Offer Herzeliya, Israel, 24 December, 2013 Cash Offer BGI Investments (1961) Ltd. ("BGI") has informed the Company that today it hasmade, through B.G. Alpha Ltd., BGI's indirectly wholly owned subsidiary, a cashoffer (the "Offer") to holders of ordinary shares in the capital of the Companyto acquire five (5) per cent. of the voting rights of Emblaze, subject to theterms and conditions of the Offer. BGI's intention to make the Offer waspreviously referred to by the Company in its announcement of 19 August, 2013(by reference to BGI's announcement of 15 August, 2013) and in the circular andNotice of Extraordinary General Meeting in respect of the Company's move to thestandard list, dated 16 October, 2013. The Offer document published by BGI in respect of the Offer will be availableon the Company website later today and values each Emblaze share at GBP 0.75. Acopy of the Offer document will also be posted to shareholders who are notregistered in a Prohibited Territory (as defined in the Offer document) in duecourse and will set out in detail the procedure for accepting (or otherwisevoting against) the Offer. The Company's board of directors is required by law to state its positionvis-à-vis the Offer (either (i) to recommend or not recommend acceptance of theOffer; or (ii) not to make a recommendation but to give reasons for suchdecision not to make a recommendation) and expects to update shareholders inrespect of such position in the coming days. In the Offer Document, BGI notes that Listing Rule 14.2.2 requires that atleast 25 per cent. of the Emblaze Shares and Depository Interests must bedistributed to the public (i.e. held in `public hands') in one or more EEAstates. Accordingly, the terms of the Offer are such that if the purchase ofany of the voting rights of Emblaze pursuant to the terms of the Offer wouldjeopardise Emblaze's main market eligibility, the BGI Group (such term asdefined in the Offer Document) reserves the right to accept such additionaltenders and reject any valid tenders, in each case (i) to the extent that to doso would preserve and not jeopardise Emblaze's main market eligibility and (ii)subject to the other terms and conditions set out in the Offer document and (inthe case of holders of ordinary shares in certificated form) in the form ofacceptance accompanying the Offer document. The Company will continue to notify shareholders of any updates with regard tothe Offer by issuing further announcements via PRN, a Regulatory InformationService. All such announcements may also be viewed at the same time on theCompany's website at www.emblaze.com. Enquiries: Hagit Gal, Emblaze hagit.gal@emblaze.com The Emblaze Group has been traded on the London Stock Exchange (LSE: BLZ) since 1996.

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