Leumi Board of Directors Appoints Ms. Rakefet Russak-Aminoach as President and CEO, Subject to Bank of Israel Approval

TEL AVIV, Israel, February 14, 2012 /PRNewswire/ --

Leumi Board of Directors, chaired by Mr. David Brodet, decided to appoint Ms. Rakefet Russak-Aminoach as President and Chief Executive Officer of Bank Leumi. Ms. Russak-Aminoach's appointment is subject to Bank of Israel confirmation, and will come into effect after receiving the necessary regulatory approvals.

Ms. Rakefet Russak-Aminoach, 46, married with 2 children, has an MBA in Business Management and degrees in Accounting and Economics (BA) and Law (LLB) from Tel-Aviv University.

Ms. Russak-Aminoach has worked at Leumi for the last eight years, and currently serves as Senior Deputy Chief Executive Officer and Head of the Corporate Division of the Bank. Among other duties, Ms. Russak-Aminoach is responsible for the Construction and Real Estate Division of the Bank and the Special Loans Division, and is the Chief Lending Manager of the Leumi Group. Before joining Leumi, Ms. Russak-Aminoach was a partner in the accounting firm KPMG-Somekh Chaikin, and from 2000-2003 served as its general manager. From 1992-1994, Ms. Russak-Aminoach served as Assistant to Ms. Galia Maor, who was the Deputy Chief Executive Officer at the time.

Leumi Chairman of the Board, Mr. David Brodet, said today that he is confident that Ms. Russak-Aminoach, with her proven abilities, will lead the Bank and the Group to significant achievements in today's challenging times.

Following the appointment, Ms. Galia Maor, President and Chief Executive Officer, wished Ms. Russak-Aminoach great success in the position, and expressed her confidence that Leumi will benefit from her in-depth knowledge of the Bank and its systems, knowledge that will help her in assuming her office in a speedy and smooth manner, for the benefit of the Bank, its customers, employees and shareholders.

Ms. Maor is expected to complete her term of office after the receipt of the regulatory approvals of the appointment of the new President and Chief Executive Officer, and after carrying out an orderly process of handing over her duties.

Contact:
Linda d'Angelo, International Spokesperson
Bank Leumile-Israel B.M., 35 Yehuda Halevi Street, Tel Aviv, Israel 61000
Tel: +972-3-514-9404, Fax: +972-3-514-9339, Cell: +972-50-651-9523