The Phoenix Holdings Ltd. — M&A Activity 2009

May 11, 2009

For immediate release 8 May 2009

Liberty Acquisition Holdings (International)Company

In the light of the recent press speculation the Board of Liberty Acquisition Holdings (International) Company ( the "Company") confirms discussions with representatives of the Pearl Group in relation to a proposed business combination with the Pearl Group and certain of its associated entities.

The Company's stated business purpose is to seek to consummate a business combination with one or more operating businesses. As such, since Liberty was admitted to trading on Euronext Amsterdam by NYSE Euronext in February 2008, it has and continues to be actively engaged in discussions with a number of different parties. In relation to the Pearl Group and its associated entities, no agreement or understanding has been reached and no assurance can be given that any such agreement or understanding will be reached. Any business combination proposed by the Company would be subject to stockholder approval.

A further announcement will be made if appropriate.

About the Company

Liberty Acquisition Holdings (International) Company is a blank check company incorporated on January 2, 2008 under the laws of the Cayman Islands as an exempted company with limited liability to acquire one or more operating businesses with principal business operations outside North America through a merger, capital stock exchange, share purchase, asset acquisition, reorganization or similar transaction. Its efforts in identifying a prospective target business will not be limited to a particular industry.