PRNewswire-FirstCall TEL AVIV, Israel Nov. 18 :
Elscint Limited (“Elscint”) today announced that, within the framework of
an agreement dated November 17, 2003 for the sale of 100% of the
outstanding shares of an Israeli private company (which is engaged in the
design, manufacture, sale and service of Web enabled advanced solutions
for medical imaging in health care facilities), Elscint has sold all the
shares and rights held by it in the said company (approximately 16%, fully
diluted) to an unrelated third party.
The closing of the transaction is expected to take place prior to the end
of the current year.
As a consequence of this transaction, Elscint will record a capital gain
(before tax) of approximately $6 million in the fourth quarter of 2003.
Elscint Limited has interests in hotels in Western Europe, in hotel
development projects principally in Western and Central Europe and in the
“Arena” commercial and entertainment center at Herzlia Marina in Israel.
This release contains certain forward-looking statements which involve
known and unknown risks, uncertainties or other factors not under the
Company`s control which may cause actual results, performance or
achievements of the Company to be materially different from the results,
performance or other expectations implied by these forward-looking
statements. These factors include, but are not limited to, those detailed
in the Company`s periodic filings with the Securities and Exchange