1. 1 Migdal Insurance and Financial Holdings Ltd. Financial results 1-3/2009 May 2009

2. 2 (369) (56) 306 Migdal Holdings - Comprehensive income in NIS millions

3. 3 (215) 508 154 (527) (417) Migdal Holdings - net profit including the change in variable management fees that will not be collected In NIS millions

4. 4 Migdal Holdings - Long term savings Sources of income before tax, in NIS millions *Not including the change in capital reserves and the change in variable management fees that will not be collected in the future

5. 5 Migdal Holdings - Long Term Savings - Sources of Profit Before Tax, in NIS Millions

6. 6 Real Market Yields 1-3/2009

7. 7 Migdal Holdings - change in capital attributed to Company’s shareholders 1-3/2009, in NIS millions

8. 8 Migdal Insurance - change in capital and capital requirements 1-3/2009, in NIS millions

9. 9 Organizational structural change in the Group - a Customer Division concentrates all the distribution and service activity of institutional organs in: Migdal Insurance Company Ltd. Migdal Makefet Migdal Platinum  About 1,350 employees + 1,000 in-house agency employees  About 1.5 million customers  About NIS 12 billion annual collection Direct customers Agents Employers Advisors Migdal Customers  About NIS 350 million expense budget  About 1,500 agents  About NIS 900 million commissions

10. 10 6%+ 21%+ 17%+ 10%+ Migdal Holdings - insurance premiums and pension and provident funds contributions, in NIS billions

11. 11 94 97 Migdal Holdings - total assets under management * In NIS billions * Including acquisitions throughout the years Average annual growth rate 2004 - 32009 37% 140% 23% 7% 5% 12%

12. 12 שיעור גידול שנתי ממוצע (כולל רכישות) 2004 -3/2009 140% 23% 5% 12% 79 75 * Including acquisitions throughout the years Migdal Holdings - long term savings Total assets under management *, in NIS billions

13. 13 Migdal Holdings - gross nominal yields for life assurance profit participating policies insured (J’ fund) vs. competitors

14. 14 Migdal Makefet - gross nominal yields for pension fund members vs. competitors