This advertisement has been issued by Development Company for Israel (International) Limited, which is authorised and regulated by the Financial Conduct Authority and registered in England No. 01415853 (FRN: 135266), and Development Company for Israel (Europe) GmbH, (DCI) which authorised and regulated by Bundesanstalt für Finanzdienstleistungsaufsicht, and is a company registered in Germany (No. 114970). French branch of Development Company for Israel (Europe) GmbH Competent supervisory authority: Bundesanstalt fuer Finanzdienstleistungsaufsicht and by Autorité des Marchés Financiers.

This is not an offering, which could only be made by prospectus. Your capital is at risk, the rules under FSMA for the protection of retail clients do not apply. An investment in any of these bonds will not be covered by the provisions of the Financial Services Compensation scheme, nor by any similar scheme. Israel bonds are intended as a long-term investment as they are not listed or admitted to dealing on any recognised investment or stock exchange nor is there any established secondary market, as a consequence Israel bonds are not readily realisable before their maturity date.  Investors should neither accept an offer nor subscribe to the securities referred to in this advertisement, except on the basis of information contained in a prospectus published by the issuer and available from www.israelbondsintl.com. Development Company for Israel (International) Ltd. or Development Company for Israel (Europe) GmbH is not the issuer of these bonds, they are issued by the State of Israel.