Company Contact:

Rony Solonicof

Chief Economist and Head of Investor Relations

Tel. 972 52 606 5487

Email IREn@orl.co.il

Investor Relations Contact:

Jonathan Eilat

The Investor - Investor Relations

Tel. 972 54 268 1977

Email john@theinvestor.co.il

FOR IMMEDIATE RELEASE OIL REFINERIES SCHEDULES FIRST QUARTER 2014 EARNINGS CALL FOR MAY 21, 2014

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Conference Call Scheduled for May 21, 2014 at 13:30 UK Time, 08:30 ET

Haifa, Israel, May 19, 2014 - Oil Refineries Ltd. (TASE: ORL.TA) (the "Company"), Israel's largest integrated refining and petrochemical group, announced today that it will be hosting its earnings call for the First quarter 2014 on Wednesday, May 21, 2014.

The conference call will take place at 13:30 UK (08:30 ET, 13:30 Israel time). On the call, management will review and discuss the first quarter 2014 financial results and will be available to answer questions.
To participate, please call one of the following teleconferencing numbers. Please begin placing your calls at least 10 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

US Dial-in Numbers: 1-888-668-9141 UK Dial-in Number: 0-800-917-5108 Israel Dial-in Number: 03-918-0699 International Dial-in Number: +972-3-918-0699

at: 13:30 UK Time, 08:30 ET, 15:30 Israel time.

The conference call will be accompanied by a presentation available for download from the

Company's website, www.orl.co.il, under investor relations.

Oil Refineries' financial statements will be available on the Company's website -
www.orl.co.ilfor the call.

ABOUT OIL REFINERIES LTD.

Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, operates Israel's largest integrated refining and petrochemical group. It is one of the leading refineries in the Eastern Mediterranean area and integrates, on-site, petrochemical businesses. ORL runs sophisticated
and state-of-the-art industrial facilities with a refining capacity of 9.8 million tons of crude oil per year and a Nelson Complexity Index of 9, providing a variety of quality products used in
industrial operation, transportation, private consumption, agriculture and infrastructure. Besides production of fuels, the company produces in its wholly owned subsidiaries Polymers (through Carmel Olefins Ltd), Aromatics (through Gadiv Petrochemical Industries Ltd), and
Lube-Oils (through Haifa Basic Oils Ltd). The Company's shares are listed on the Tel Aviv
Stock Exchange under the ticker ORL. For additional information please visit www.orl.co.il.
ORL is controlled by the Israel Corporation Ltd. and Israel Petrochemical Enterprises Ltd., both public companies whose shares are traded on the Tel Aviv Stock Exchange.

The above noted in this release includes forward-looking statements based on Company data, as well as Company plans and estimations based on this data. The activity, results and other data may be substantially different in reality given uncertainty and various risks, including those discussed under risk factors in the Company's financial statements and Director's report

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