Company Update

EMBLAZE LTD (LSE:BLZ) ("Emblaze" or the "Company") Company Update Herzeliya, Israel, 11 November 2013. Capitalised terms will have the meanings ascribed to them in the Company'sannouncement of 4 November 2013. Further to the Company's announcement of 4 November 2013, the ConsortiumMembers have entered into an agreement with Neto Melinda Trade Ltd. (the "NetoGroup") in relation to the Proposed Transaction. Pursuant to the agreement,Neto Group has undertaken to invest NIS 135,400,000 in connection with theProposed Transaction on similar terms to those entered into with Netz Group andAlon Group, including the grant of a put option by Newco in relation to theNeto Group's holdings in IDB (including convertible bonds), to be exercisedwithin the period commencing 3 years from Closing and ending 6 years fromClosing. Emblaze will guarantee payment in the event of the exercise of saidoption. The amount invested by the Neto Group was added on Sunday, 10 November2013, to the NIS 451,000,000 escrow account allocated by the Consortium Membersfor the Proposed Transaction. At Closing, each Consortium Member, including Neto Group, will be allocated andissued, pro-rata to its investment, IDB shares and/or non-tradable,non-interest-bearing convertible bonds, which in aggregate amount to 93.75% ofthe issued share capital of IDB. Following the addition of Neto Group to the Consortium (together the "RevisedConsortium"), the Company will maintain the right to appoint the majority ofdirectors of the boards of directors of all the IDB Group companies. There has been no change to the terms of the Proposal submitted to the Court on3 November 2013 (including the obligation on Newco to invest the totalinvestment amount invested under Alternative 1 or Alternative 2 minus anyamount invested by any other party). Information on the Neto Group Neto Group is an Israeli public company traded on TASE. Neto Group was foundedin 1940 and is one of the leading food conglomerates in Israel, engaged inimport, production, marketing and distribution of a wide variety of foodproducts. The Neto Group's headquarters, logistics center and plants aresituated in Israel. The Company will continue to notify shareholders of any updates with regard tothe Proposed Transaction and/or any material changes to the terms of itsProposal 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. In the event the Revised Consortium'sProposal is successful, the Company will prepare the appropriate documentationproviding more details on the Company, as enlarged by the IDB Group, and theCompany's investment in IDB. Enquiries: Hagit Gal, Emblaze hagit.gal@emblaze.com The Emblaze Group is traded on the London Stock Exchange (LSE: BLZ) since 1996.www.emblaze.com.