A News Release Announcing the Acquisition of Shares in Tnuva

The largest acquisition in the history of Israel's food industry was completed today in Tel Aviv. Bright Food (Group) Co., Ltd. (or Bright Food for short) acquired a majority of shares in Tnuva from Apax Partners and Mivtach Shamir Holdings Ltd. (or Mivtach Shamir for short). In fact, Bright Food acquired 56.7% of the company's stock from Apax Partners and another 21% from Mivtach Shamir, a move that put a market value of 8.6 billion shekels on Tnuva. Having viewed the acquisition as a long-term strategic investment, Bright Food will let Tnuva retain its status as an Israeli business, with a view to consolidating its own position in the Israeli economy further by allowing Tnuva to extend to the new global market.

Immensely confident and proud that Tnuva will continue to maintain its lead in the Israeli market, Bright Food will continue to strengthen its cooperation with the company and all shareholders therein, including but not limited to its employees, customers, farmers, and dairy farmers. In fact, it is Bright Food's practice of making acquisitions overseas that the needs of the local market always take priority over those of any other market. Bright Food believes that its cooperation with Tnuva will promote growth on both sides in such areas as innovation, research, advanced technology, and sales.

Not only did Tnuva's Israel-based management team win the respect of Vice President Yu Liping of Bright Food and her entourage who jointly took part in the acquisition, but they also received heartfelt thanks from them. In fact, the team will lead Tnuva together with the newly appointed board of directors. The new board of directors consists of the original representatives from the kibbutzim, Yossi Shahar, and senior executives from Bright Food. It is expected that those Bright Food senior executives will bring a great deal of international experience to Tnuva.

Chief Finance Officer Li Lin of Bright Food believed that "In completing the acquisition of shares in Tnuva, Bright Food has given a vote of confidence to the economic strength of Israel." As Yossi Shahar, an Israel-based representative of Bright Food, put it, "The standards of excellent of Bright Food as a global business are so high that its entry as a long-term strategic investor into the Israeli economy will surely benefit from the local market. Moreover, Bright Food will provide Tnuva with an international platform so that the latter's quality products can be placed on the store shelves around the world."

Bright Food is China's second largest food company, specializing in dairy products, sugar and candy products, agricultural products, vegetables, and alcoholic beverages. Bright Food has 142,000 employees. In addition to its many food operations, Bright Food owns research institutes, retail chain stores, farms, and logistics companies, while engaging in other sorts of activities.

Sticking to its strategic goal of becoming a global food business, Bright Food has acquired several companies worldwide in recent years. Among these companies are Synlait Milk Limited of New Zealand, Manassen Foods of Australia, Weetabix Cereals of the United Kingdom (a breakfast cereal producer), and DIVA of France (a Bordeaux wine exporter), in which Bright Food has a 51%, 75%, 60%, and 70% stake respectively.