Scitex (SCIX)

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Arie Mientkavich Appointed Chairman of Scailex Corporation

Sunday May 21, 7:54 am ET

TEL AVIV, Israel, May 21 /PRNewswire-FirstCall/ -- Scailex Corporation Ltd. (formerly: Scitex Corporation) (Nasdaq & TASE: SCIX) today announced that Arie Mientkavich has been appointed Chairman of the Board of Directors of Scailex, replacing Ami Erel, who served as the Chairman from June 2003, with effect from June 1, 2006. Mr. Mientkavich, 64, who served from November 1997 to January 2006 as the Chairman of Israel Discount Bank Ltd., one of the largest commercial banks in Israel, is the Vice Chairman of Gazit-Globe Ltd., one of the leading real estate investment companies in Israel. Mr. Mientkavich will be an active Chairman of Scailex and will dedicate considerable time to Scailex.

Mr. Erel, the outgoing Chairman of Scailex and the CEO of Discount Investments Corporation Ltd., said: "I am leaving the position in order to focus on Discount Investments' pending acquisition of a controlling stake in Koor Industries. I am confident that Mr. Mientkavich provides the leadership qualities and strategic vision necessary to lead Scailex."

Scailex Corporation Ltd.

Scailex Corporation shares trade on Nasdaq and The Tel Aviv Stock Exchange under the symbol "SCIX". For more information, please visit our Web site at http://www.Scailex.com.

http://biz.yahoo.com/prnews/060521/lnsu002.html?.v=2

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