Blue Square Announces a Public Offering of Debentures on the Tel Aviv Stock Exchange

Published October 20th, 2009 - 01:08 GMT

Blue Square-Israel Ltd. (NYSE: BSI) (hereinafter: "Blue Square") announced today the success of a public offering of debentures of NIS 300 Million, performed by its subsidiary (78.45%), Blue Square Real Estate Ltd. (hereinafter: "BSRE") on the Tel Aviv Stock Exchange.

 

    Following BSRE's shelf prospectus dated May 20, 2009, A public
offering of NIS 300 Million debentures was carried out successfully on
October 19, 2009, and BSRE received gross proceeds of NIS 300 million.

 

    The securities offered in such transaction have not been and
will not be registered under the Securities Act of 1933, as amended, and may
not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of such Act. This
press release shall not be deemed an offer of securities or a solicitation of
an offer to buy securities.

 

    Blue Square-Israel Ltd. is a leading retailer in Israel. A
pioneer of modern food retailing, in the region. Blue Square currently
operates 203 supermarkets under different formats, each offering varying
levels of services and prices. For more information, please refer to the Blue
Square-Israel Ltd. website at http://www.bsi.co.il.

 

    Forward Looking Statements

 

    This press release contains forward-looking statements within
the meaning of safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements may include, but
are not limited to, plans or projections about our business and our future
revenues, expenses and profitability. Forward-looking statements may be, but
are not necessarily, identified by the use of forward-looking terminology
such as "may," "anticipates," "estimates," "expects," "intends," "plans,"
"believes," and words and terms of similar substance. Forward-looking
statements involve known and unknown risks, uncertainties and other factors
that may cause actual events, results, performance, circumstance and
achievements to be materially different from any future events, results,
performance, circumstance and achievements expressed or implied by such
forward-looking statements. These risks, uncertainties and other factors
include, but are not limited to, the following: our ability to compete
effectively against low-priced supermarkets and other competitors; the effect
of the recession in Israel on the sales in our stores and on our
profitability; quarterly fluctuations in our operating results that may cause
volatility of our ADS and share price; risks associated with our dependence
on a limited number of key suppliers for products that we sell in our stores;
the effect of an increase in minimum wage in Israel on our operating results;
the effect of any actions taken by the Israeli Antitrust Authority on our
ability to execute our business strategy and on our profitability; the effect
of increases in oil, raw material and product prices in recent years; the
effects of damage to our reputation or to the reputation to our store brands
due to reports in the media or otherwise; and other risks, uncertainties and
factors disclosed in our filings with the U.S. Securities and Exchange
Commission, including, but not limited to, risks, uncertainties and factors
identified under the heading "Risk Factors" in our Annual Report on Form 20-F
for the year ended December 31, 2008. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
of this press release. Except for our ongoing obligations to disclose
material information under the applicable securities laws, we undertake no
obligation to update the forward-looking information contained in this press
release.


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