80OA Qnb Fin 35

    RNS Number : 8712I
  Bank Hapoalim B.M.
  25 November 2008
   

    Head Office
    63 Yehuda Halevi St., Bank Hapoalim Bldg., Tel Aviv 65781
    Tel: 972-3-5673800; Fax: 972-3-5674576
    Date: November 25, 2008
    Reference: 802/08
 To:    The London Stock Exchange

    Dear Sir or Madam, 

    RE:    Immediate Report

    Bank Hapoalim B.M. (hereinafter: "the Bank") respectfully advises as follows:

    On 23rd November, 2008, in the early hours of the morning, there occurred a rare and unexpected malfunction in the operating system
produced by IBM of the Bank's central computer. Due to this malfunction, the Bank was unable to provide its customers with a considerable
part of its services by means of the computer system. Nevertheless, the Bank continued to provide its customers at large with banking
services by means of its employees at the branches.

    Immediately after the malfunction occurred, the Bank's experts, together with IBM experts in Israel and abroad, began taking action
around the clock without interruption in order to rectify the malfunction.

    In the course of the 23rd of November, 2008 the malfunction was identified and was rectified in the early hours of the morning of the
24th of November,2008, and the central computer system of the Bank was reconditioned so as to enable it to begin functioning again. From
then on, the Bank's computer staff, with IBM experts on hand, worked to receive and process the data which had accumulated since the
occurrence of the malfunction, and which in part had been received from other banks and from the interbank clearing centre and in part from
customer initiated operations during the days of malfunction, in order for the computer system to be able to resume operations and function
normally.

    At about 03:00 a.m. on the 25th of November, 2008, the computer systems were opened for use by customers, including banking through the
internet, ATMs and mechanized banking machines. The branches of the Bank opened today as usual at 08:30 a.m., providing customers with the
usual selection of services. The data regarding the transactions executed manually at the branches while the malfunction persisted is now
being fed into the computer system which process will be completed in the course of the day.

    It should be emphasized that at no stage was there any fear of loss or damage to the repositories of information of the Bank, which are
backed up in a regular and orderly manner. These repositories are fully intact, in all their particulars; both the information which existed
prior to the computer malfunction as well as information resulting from operations taking place during the malfunction. All up-to-date data
as aforesaid is available to the Bank, and the data pertaining to each and every customer will be available to him once all such data has
been fed into the system.


    Yours faithfully,

    Bank Hapoalim B.M.
     ( - )                                                                ( - )

           David Luzon                 Yoram Weissbrem
 Senior Deputy Managing Director    Secretary of the Bank


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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Qnb Fin 35 (LSE:80OA)
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