The Company also released its financial results and balance sheet for the first quarter of 2008, reflecting the status of the Company's assets and liabilities following the closing of the sale of the Company's business to Hewlett-Packard Company for cash consideration on February 29, 2008, which generated $93.5 million capital gain. Net income for the quarter ended March 31, 2008 was $87.7 million.

The Company will have approximately $75 million in cash after the repayment of its current liabilities as they appear on the balance sheet attached hereto.

Shlomo Nehama, Chairman of the Board, commented: "We believe that the current market conditions are favorable for companies that have available cash resources for investment. We are actively looking for new business opportunities in order to enhance shareholders value." -- Ellomay Capital Ltd