Direct Insurance - Financial Investments Ltd (“The Company”) 22/7/2007    The Company is honored to announce that on the 19th of July 2007 they signed on a Contract (hereinafter: ""the Contract"") for the sale of their shares in the IDI IDIT Technologies Ltd Company (hereinafter: ""IDIT"") to the Formula Vision Technology (F.V.T.) Ltd. Company(hereinafter ""Formula"").At the date of the sale, the Company held 10,001 regular NIS 1 nominal value name-registered shares of IDIT, which constitutes about 32.6% of the IDIT share capital. In exchange for the shares, all of the Companies obligations towards IDIT and towards Formula are cancelled, and the Company is released from the guarantees that it granted in favor of third parties. Furthermore, the license that can be used for the IDIT software will be corrected in respect of the Company and the companies connected with it, and it will be determined therein that it is given free of charge. In addition, it is determined in the Contract that if Formula will sell the shares in IDIT within 18 months from the date of the closing, Formula will pay to the Company a certain rate of payment (above the level determined) that will derive from said sale, in accordance with the conditions that will be determined in the Contract. The Contract further sets down restrictions regarding confidentiality and non-competition. The Contract is subject to the fulfillment of the suspending conditions and to obtaining approvals, as is set forth in the Contract. The Company will report again immediately upon fulfillment of the suspending conditions and the start of the Contract’s validity. Following the sale of the shares as said, the Company is expected to register in its Financial Statements capital gain amounting to NIS 5 Million.