Aviho Olshansky

Harel Provident Funds Ltd. (HPF), also known as Harel Gemel Ltd., is a wholly-owned subsidiary of Harel Insurance Investments & Financial Services Ltd. (TLV: HARL) in Israel. Headquartered in Ramat Gan, HPF specializes in the management of provident funds, and also contributes to managing Harel's insurance portfolio. Their clients are employers, salaried workers and the self-employed, active within a wide variety of sectors. The various provident funds managed by HPF are destined to pay for central and personal severance pay, education, sick pay and annuities.

Industrial Development Bank of Israel Ltd. focuses on normal banking activities, including, without limitation, the extension of short, medium and long term credit in NIS and foreign currencies, the acceptance of deposits in all currencies, the maintenance of checking accounts and the issuance of credit cards. In addition, it issues guarantees of all types in Israel and abroad and issued letters of credit and other documents relating to foreign trade. It maintains a foreign exchange dealing room, which provided currency conversion services and services relating to the hedging of currency and interest rate risk. Its finance department also provided services in factoring and futures transactions. It also analyzes and prepared applications for 'Approved Enterprise' status and administered government grants. Its customers included many of Israel's well known large industrial companies, medium size commercial entities, public institutions, kibbutzim and other agricultural sector companies. Until 2002, its goal was to gradually expand its range of commercial banking activities, which generally focused on the business and industrial sectors, and diversify its customer base

Harel Insurance Co. Ltd. engages in the provision of insurance products. It operates through the following segments: Health Insurance, Life Insurance and Long-Term Savings, and General Insurance. The Health Insurance segment includes health insurance, nursing insurance, dental insurance, and travel insurance. The Life Insurance and Long-Term Savings segment includes life insurance, pension and retirement insurance, and education insurance. The General Insurance segment includes automotive insurance, apartment insurance, third party liability insurance, and mortgage and credit insurance. The company was founded in 1933 and is headquartered in Raman Gan, Israel.