ISRAEL DISCOUNT BANK LTD.

Registration no. 520007030
T121
Public
The securities of the corporation are listed for trading on the Tel Aviv Stock Exchange
Abbreviated name: Discount
Address: 23 Yehuda Halevi St., Tel Aviv 6513601, Israel Tel: 972-3-5145582; 972-3-5145544; Fax: 972-3-5171674 e-mail: michal.sd@discountbank.co.il
Transmission date: September 16, 2015
Reference: 2015-01-119634

Israel Securities Authority Tel Aviv Stock Exchange Ltd.

www.isa.gov.il www.tase.co.il

Immediate Report

Nature of the event: Trustee's Notice

Attached is a notice, that was sent to the Bank by Mizrahi Tefahot Trust Company Ltd., which acts as trustee for the holders of the hybrid capital notes (Series A) issued by the Bank ("the Trustee").

See below for the notice from Mizrahi Tefahot Trust Company Ltd.
The date when the Corporation first learned of the event: September 13, 2015 at 08:30
Reference numbers of previous documents relating to this topic (their mention does not constitute their inclusion by way of reference): N/A
Prior names of the reporting entity:
Date of updating structure of form: June 3, 2015

Name of person making electronic report: Sokolov-Danoch, Michal; Position: Corporate Secretary
Name of Employing Company:
23 Yehuda Halevi St., Tel Aviv 6513601, Israel, Tel: 972-3-5145582; Fax: 972-3-5171674 e-mail: michal.sd@discountbank.co.il

Israel Discount Bank's Immediate Reports are published in Hebrew on the website of the Israel Securities Authority and the Tel Aviv Stock Exchange. The English translation is prepared for convenience purposes only. In the case of any discrepancy between the English and Hebrew versions, the Hebrew will prevail. CONVENIENCE TRANSLATION OF ORGINAL DOCUMENT IN HEBREW

MIZRAHI TEFAHOT

TRUST COMPANY

Thursday, 26 Ellul, 5775
September 10, 2015
For the attention of:

Israel Discount Bank Ltd.

Dear Sirs,
Re. Service of Trustee for the Holders of Hybrid Capital Notes (Series A)
As Trustee for the holders of hybrid capital notes (Series A) ("the Hybrid Capital Notes") issued by Israel Discount Bank Ltd. ("the Company"), we hereby give notice that, in light of the provisions of Section 35E(2) of the Securities Law, 5728-1968 and in light of the situations set forth in the plenum decision of the Israel Securities Authority dated July 26, 2005, in relation to conflicts of interest of a trustee, the Trustee is examining the circumstances that might give rise to concern of conflicts of interests and to the termination of its service as the Trustee for the holders of the Hybrid Capital Notes.
On completion of the examination into this matter, including by means of an appropriate application to the Israel Securities Authority, the Trustee will report the results thereof in accordance with and subject to the provisions of the law.

Yours sincerely,

Mizrahi Tefahot Trust Company Ltd.

MIZRAHI TEFAHOT TRUST COMPANY LTD. 123 Hashmonaim St., Tel Aviv 67133. Tel: 03-5630733; fax: 03-5630752
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