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 Negotiations Continue with Robert De Niro to Develop a Luxury Hotel
in the “Clock Tower” Portion of the the Former Metropolitan Life Insurance
 Headquarters In Manhattan Acquired by The Investment Company Africa-Israel
By Judith Ben-Dak, Globes, Tel Aviv, IsraelMcClatchy-Tribune Regional News

Jun. 26, 2007 - --Africa-Israel Investments chairman Lev Leviev has been holding serious negotiations with Robert De Niro to develop a luxury hotel in the landmark Clock Tower at 5 Madison Avenue in Manhattan. Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY.PK) closed its $200 million purchase of the building last Wednesday.

Sources in Hollywood told "Globes" that De Niro and Leviev have been in talks for over a month, and added that a deal would be signed soon. Africa-Israel Properties & Developments USA CEO Rotem Rosen has been seen dining with De Niro several times at the Gramercy Park Hotel in Manhattan.

Rosen declined to confirm the report, but told "Globes": "We cannot comment at the moment. There are a number of options concerning the Clock Tower. An official statement will be made in Israel by Africa-Israel's spokesman."

De Niro was not available for response.

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To see more of the Globes or to subscribe to the newspaper, go to http://www.globes.co.il.

Copyright (c) 2007, Globes, Tel Aviv, Israel

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