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Alon Holdings Blue Square - Israel Ltd. Announces the Exact Sum of Dividend per Share/Ads to be Paid

Tuesday, October 5, 2010 6:22 AM

ROSH HA'AYIN, Israel, October 5, 2010 /PRNewswire-FirstCall/ -- Alon Holdings Blue Square - Israel Ltd. (NYSE:BSI) (the "Company") announced today, that with regard to the cash dividend distribution declared by the Company on June 28, 2010, within the framework of the acquisition of Dor Alon Energy in Israel (1988) Ltd. shares held by Alon Israel Oil Company Ltd. (Company's announcements dated May 27, 2010, June 22, 2010, June 28, 2010, July 21, 2010, September 14, 2010, October 4, 2010) - due to conversion of debentures and realization of employee stock options, the cash dividend that is to paid on October 18, 2010 will be in the sum of NIS 12.307167 per share/ADS (the equivalent of approximately U.S. $3.39 per share/ADS, based on yesterday's representative rate of exchange).

Following the dividend distribution, the conversion ratio of the Company's 5.9% convertible debentures issued in August 2003 (outstanding principal amount of NIS 7,464,541.61 as of October 5, 2010) will be adjusted on October 6, 2010, due to the dividend described above. Following the adjustment, each NIS 6.083 par value of the convertible debentures will be convertible into one ordinary share of the Company.

Alon Holdings Blue Square - Israel Ltd. (hereinafter: "Alon Holdings") is the largest retail group in the state of Israel. It operates in various segments: In its Supermarket segment it is a pioneer of modern food retailing in the region, and through its 100% subsidiary, Mega Retail Ltd., currently operates 206 supermarkets under different formats, each offering a wide range of food products, "Near Food" products and "Non-Food" products at varying levels of service and pricing. Alon Holdings holds 80% of TASE traded Dor Alon, one of the four largest fuel retail companies in Israel based on the number of fuel stations and a leader in the convenience store sector, Dor Alon holds a Chain of 186 fuel stations and 175 convenience stores in various formats throughout Israel. In its "Non-Food" segment, Alon Holdings, through its 85% subsidiary Bee Group Retail Ltd., operates specialist outlets in self operation and franchises and offers a wide range of "Non-Food" products as retailer and wholesaler. In its Real Estate segment, Alon Holdings, through its TASE traded 78.35% subsidiary Blue Square Real Estate Ltd., owns, leases and develops yield generating commercial properties.

This press release contains forward-looking statements within the meaning of safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, plans or projections about our business and our future revenues, expenses and profitability.


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