TEL AVIV, Israel, March 20, 2019 (GLOBE NEWSWIRE) -- Gazit Globe (TASE: GZT), a leading global real estate company
focused on the ownership, management and development of retail and mixed use properties in major urban markets in North America,
Brazil, Israel, Northern, Central and Eastern Europe, announced on March 18, 2019 that it has commenced an issuer offer (the
“Tender Offer”) to purchase up to NIS 290 million (approximately US $80.4 million) in value of its ordinary shares—10 million
shares— at a purchase price of NIS 29 (approximately US $8.04) per share (The tender is for all or any of the tendered amount). The
closing price of the ordinary shares on the Tel Aviv Stock Exchange on March 17, 2019, the last trading day prior to the launch,
was NIS 28.01 (approximately US $7.77) per share. The shares subject to the Tender Offer constitute, as of the current time, 5.3%
of Gazit’s issued and outstanding shares. Gazit will fund the purchase of shares in the Tender Offer with available cash. The last
acceptance date of the Tender Offer will be on April 1, 2019.
Gazit has retained American Stock Transfer & Trust Company as the Depositary for the Tender Offer. A copy of an English
translation of the Israeli tender offer document (with appropriate additions to address U.S. shareholders of Gazit) has been
furnished to the Securities and Exchange Commission today as an exhibit to a Form CB. U.S. shareholders who are interested in
tendering their shares to the Company or who have questions concerning the Tender Offer should contact Gazit’s Investor Relations
department, at IR@gazitgroup.com or telephone number +972-3-694-8000, which will provide them with the
documentation that is needed for the tender of their shares.
None of Gazit, its Board of Directors, or the Depositary for the Tender Offer has made or will make any recommendations to
shareholders as to whether to tender or refrain from tendering their shares in the Tender Offer. Shareholders must make their own
decision as to whether, and how many shares, they will tender, if any. In so doing, shareholders should read and evaluate carefully
the information in the English translation of the Israeli tender offer document.
Important information regarding the Tender Offer
This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to
sell ordinary shares of Gazit. The Tender Offer described in this press release has not yet been consummated, and there can
be no assurances that the Company will consummate the Tender Offer on the terms described in this press release or at all.
The Tender Offer is being made only pursuant to the English translation of the Israeli Tender Offer document, which Gazit has filed
with the Securities and Exchange Commission (the “SEC”). Shareholders and investors should read carefully that document
together with any related materials provided to them because they contain important information, including the various terms of,
and conditions to, the Tender Offer, as well as any amendments or supplements to the Tender Offer documentation, when they become
available. Shareholders and investors may obtain a free copy of the English translation of the Israeli Tender Offer document at the
SEC’s website at www.sec.gov, at https://www.gazitglobe.com/investor-relations/, or by calling Gazit’s Investor Relations
department, at +972-3-694-8000.
About Gazit
Gazit Globe is a leading global real estate company focused on the ownership, management and development of
retail and mixed use properties in North America, Brazil, Israel, northern, central and Eastern Europe, located in urban growth
markets. Gazit Globe is listed on the New York Stock Exchange (NYSE: GZT) and the Tel Aviv Stock Exchange (TASE: GZT) and is
included in the TA-35 index in Israel. As of September 30, 2018, Gazit Globe owns and operates 101 properties, with a gross
leasable area of approximately 2.5 million square meters and a total value of approximately NIS 38.6 billion. In addition, as of
September 30, 2018, Gazit Globe owned 31.3% of First Capital Realty Inc.
Forward‐Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include all statements that are not statements of historical fact. Forward-looking
statements herein include those statements regarding Gazit’s ability to execute its operating plan and future financial performance
and any other statements that are not statements of historical fact. These statements may be identified, without limitation, by the
use of forward-looking terminology such as “anticipates”, “expects,” “will” or comparable terms or the negative thereof. Such
statements are based on management’s current estimates, assumptions that management believes to be reasonable, and currently
available competitive, financial, and economic data as of the date hereof. Forward-looking statements are inherently uncertain and
subject to a variety of events, factors and conditions, many of which are beyond the control of Gazit and not all of which are
known to Gazit, including, without limitation, general business and financial risks such as those risk factors described from time
to time in Gazit’s reports filed with or furnished to the Israel Securities Authority and Tel Aviv Stock Exchange, which are also
available at https://www.gazitglobe.com/investor-relations/. Other risks and uncertainties
include those concerning the commencement and completion of the Tender Offer. Investors should keep in
mind that Gazit’s financial results in any particular period may not be indicative of future results. Gazit is under no obligation
to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new
information, future events, changes in assumptions or otherwise, except as required by law.
