Direct Insurance Financial Investments Ltd. Launches Operations in Russia 7/4/2008    Direct Insurance Financial Investments Ltd. announced today the launch of direct insurance operation in Russia. The activity will be performed via OJSC INTOUCH Russia, a fully owned subsidiary of the joint venture between Direct Insurance Financial Investments Ltd. and Royal & Sun Alliance (R&SA) one of the world’s leading multinational quoted insurance groups. Along with the start of operation in Russia, the company announced the launch of a new brand name for its global activities – INTOUCH. As part of the branding process, the name of the joint venture was changed from Global Direct Insurance Investments B.V. (GDII) to INTOUCH Insurance Group B.V. In addition, the new venture launched a new website www.intouch-ins.com INTOUCH Russia is the first company to offer direct insurance services and it ready to initially provide its services in the districts of Moscow and Samara. By January 2009, The Company intends to further expand its activity to other districts in the future. As was first reported in July 2006, the European Bank for Restructuring and Development (EBRD) signed an agreement to invest in the Russian's insurance operations, thus becoming a partner of Direct Insurance and R&SA to these activities. The EBRD’s share will be 30% and the balance will be owned by INTOUCH Insurance Group. About Russia’s Insurance Market (based on publications by the Russian vehicle insurance union): -In 2008 over two million new vehicles are expected to be sold in the country and in 2012 this number is expected to exceed 3.5 foreign cars. -Russia’s insurance market in 2012 is expected to total USD 54.5B, almost triple the amount as opposed to 2007. -In 2007, over 34 million vehicle insurance policies were sold in the country. Doron Schneidman, company CEO, informed: “The launch of operations in Russia is an important step in our development. Russia’s motor insurance market is one of the highest growing industries in the country and according to forecasts of Autostat by 2017 the number of vehicles in Russia is expected to double and reach over 50 million. One can certainly say that only a large company, with prior proven performance and flexibility in terms of the range of services it provides, can attain a leading position in Russia’s direct insurance market. We believe the INTOUCH group has the ability to successfully lead this challenging process and become a lead player in this market which has the greatest growth potential of any market we have entered to date”. For more information Oded Ben Chorin Investor Relations Ltd. Tel: 03-5167620 Email: oded@km-ir.co.il Website: www.km-ir.co.il