Company Update

Adamind Ltd
27 February 2008




27 February 2008

                                  Adamind Ltd
                          ("Adamind" or "the Company")

                                 Company Update


Further to the announcement of 29 January 2008, the Company provides an update
on the timing of the distribution of funds to shareholders.

Since the filing of the motion for the cash distribution on 27 January 2008, the
Company has been approached by certain parties with respect to a variety of
possible alternative transactions. The Board has considered these alternatives
and concluded that the distribution of approximately US$19 million remains in
the best interests of the Company's shareholders and is continuing to pursue
this strategy.

The Company expects to inform shareholders of the results of the application to
the Israeli Courts for the first cash distribution on 3 March 2008 and continues
to expect the distribution to be made as planned in the first quarter of 2008 or
shortly thereafter.


Enquiries

Corfin Communications              
Harry Chathli, Neil Thapar          [phone]                    




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