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**Exhibit 2.18**

WARRANT

THIS WARRANT AND THE ORDINARY SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT (the SECURITIES)
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, (the SECURITIES ACT)
OR QUALIFIED UNDER ANY STATE OR FOREIGN SECURITIES LAW, AND THE WARRANT MAY NOT BE EXERCISED AND
THE WARRANT AND THE ORDINARY SHARES ISSUABLE UPON EXERCISE MAY NOT BE SOLD, TRANSFERRED, PLEDGED,
ASSIGNED OR HYPOTHECATED, UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT COVERING THIS WARRANT AND/OR SUCH SECURITIES, OR THE HOLDER RECEIVES AN OPINION OF COUNSEL FOR
THE HOLDER OF THE WARRANT AND/OR SUCH SECURITIES SATISFACTORY TO THE COMPANY STATING THAT SUCH SALE,
TRANSFER, PLEDGE, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY
REQUIREMENTS OF THE SECURITIES ACT AND THE QUALIFICATION REQUIREMENTS UNDER APPLICABLE LAW.

to purchase

Ordinary Shares

of

NUR MACROPRINTERS LTD.

at a price of  $0.52 per share

VOID AFTER 17:00 p.m. (prevailing Tel Aviv time)

On the Expiration Date (as hereinafter defined)

in favor of

No. W-

NUR MACROPRINTERS LTD., an Israeli company with its principal offices at 12 Abba Hilel Silver Street, Lod, Israel (the Company), hereby grants to ________________ (the Holder), the right to purchase, subject to the terms and conditions hereof, up to ______________ (_______)
of the Companys Ordinary Shares, par value NIS 1.00 per share (Ordinary Shares), exercisable at any time from time to time, on or after the date hereof (the Effective Date), and until the fifth anniversary of such date (the Expiration Date).

(Hereinafter:
  (i) the Ordinary Shares purchasable hereunder or any other securities which
  may be issued by the Company in substitution therefor, are referred to as the
  Warrant Shares; (ii) the price of Fifty Two Cents ($0.52)
  payable hereunder for each of the Warrant Shares, as adjusted in the manner
  set forth hereinafter, is referred to as the Exercise Price
  and (iii) this Warrant and all warrants hereafter issued in exchange or substitution
  for this Warrant are referred to as the Warrants. The Exercise
  Price and the number of Warrant Shares are subject to adjustment as hereinafter
  provided.)

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1.  
            Warrant Period; Exercise
  of Warrant

1.1           (a)           
  This Warrant may be exercised in whole at any time, or in part from time to
  time, beginning on the date hereof until the Expiration Date (the Warrant
  Period), by the surrender of this Warrant (with a duly executed exercise
  form in the form attached at the end hereof as Exhibit A), along with
  the Exercise Certificate or the Exercise Opinion (each as defined in Section
  1.1(b) below), at the principal office of the Company, set forth above, together
  with proper payment of the Exercise Price multiplied by the number of Warrant
  Shares for which the Warrant is being exercised. Payment for Warrant Shares
  shall be made by certified or official bank check or checks, payable to the
  order of the Company or by wire transfer to an account to be designated in writing
  by the Company. Payments shall be made in United States dollars.

(b)           
  In addition to the method of exercise set forth in Section 1.1(a) hereof, each
  Holder shall have the right to exercise the Warrant in whole or in part and,
  upon such exercise, to receive for each Warrant surrendered a fraction of one
  Ordinary Share as shall be determined by the formula set forth below, with no
  cash payment required other than a payment of Equivalent Par Value (as defined
  below) for each Ordinary Share issued upon the exercise of the Warrant in accordance
  with this Section 1.1(b). The number of Ordinary Shares the Holder shall be
  entitled to receive shall upon the exercise of the Warrant and surrender of
  the related warrant certificate in accordance with this Section 1.1(b) shall
  be equal to the product of (x) the total number of Ordinary Shares exchangeable
  for the Warrants being exercised (assuming exercise in accordance with Section
  1.1(a)) multiplied by (y) a fraction, the numerator of which is the aggregate
  Market Price (as defined below) of such Ordinary Shares plus Equivalent Par
  Value less the aggregate Exercise Price therefore, and the denominator of which
  is such aggregate Market Price. Upon exercise of the Warrants pursuant to this
  Section 1.1(b), the warrants so exercised shall no longer be exercisable. Solely
  for the purpose of this paragraph, Equivalent Par Value shall be
  an amount in U.S. Dollars equal to NIS 1.0 based on the Representative Rate
  of the U.S. Dollar as published by the Bank of Israel on the date of payment.
  Solely for the purposes of this paragraph, Market Price shall be calculated
  as the average of the five trading days immediately preceding the date on which
  the form of exercise attached (Exhibit A) is deemed to have been sent to the
  Company. For the purposes of this paragraph, Market Price shall
  be deemed to be the last reported sale price of the Ordinary Shares, or if no
  such reported sale takes place on such day, the average of the last reported
  sale prices for the last three (3) trading days.

(c)           The
Holder of a Warrant, by its acceptance thereof, covenants and agrees that the Warrants described
herein are being acquired as an investment and not with a view to the distribution thereof and such
Holder further covenants and agrees that it will not sell, transfer, pledge, assign, or hypothecate
the Warrant or the ordinary shares issueable upon exercise of the Warrant unless there is an effective
registration statement under the Securities Act of 1933 covering the Warrant or the ordinary shares
issueable upon exercise of the Warrant, or the Holder of the Warrant and/or the ordinary shares receives
an opinion of counsel satisfactory to the Company stating that such sale, transfer, pledge, assignment,
or hypothecation is exempt from the registration and prospectus delivery requirements of the Securities
Act of 1933 and the qualification requirements under applicable law.

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1.2           If this Warrant should be exercised
in part, the Company shall, upon surrender of this Warrant for cancellation, execute and deliver
a new Warrant evidencing the rights of the Holder to purchase the remainder of the Ordinary Shares
purchasable hereunder. The Company shall pay any and all expenses, taxes and other charges that may
be payable in connection with the issuance of the Warrant Shares and the preparation and delivery
of share certificates pursuant to this Section 1 in the name of the Holder (including without limitation
the applicable stamp duty), and to the extent required, the execution and delivery of a new Warrant,
provided, however, that the Company shall only be required to pay taxes which are due as a direct
result of the issuance of the Ordinary Shares or other securities, properties or rights underlying
such Warrants (such as the applicable stamp duty), and will not be required to pay any tax which
may be (i) due as a result of the specific identity of the Holder or (ii) payable in respect of any
transfer involved in the issuance and delivery of any such certificates in a name other than that
of the Holder and the Company shall not be required to issue or deliver such certificates unless
or until the person or persons requesting the issuance thereof shall have paid to the Company the
amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.

1.3           No fractions of Ordinary Shares
shall be issued in connection with the exercise of this Warrant, and the number of Ordinary Shares
issued shall be rounded down to the nearest whole number.

Upon the issuance of Ordinary Shares resulting from the exercise in whole or in part of this Warrant,
the Company shall deliver to the Holder an irrevocable letter of instructions to the Companys
transfer agent to issue as soon as is reasonably practicable to the Holder share certificates reflecting
the Warrant Shares exercised thereby, together with any and all other documents required for the
issuance of such certificates by the transfer agent.

2.            Reservation of Shares

The Company covenants that: (i) at all times during the Warrant Period it shall have in reserve, and
will keep available solely for issuance or delivery upon exercise of the Warrant, such number of
Ordinary shares as shall be issuable upon the exercise thereof, and (ii) upon exercise of the Warrant
and payment of the Exercise Price therefor, the Warrant Shares issuable upon such exercise will be
validly issued, fully paid, non assessable, free and clear from any lien, encumbrance, pledge or
any other third party right and not subject to any preemptive rights.

3.
  Adjustments to Exercise Price and Number of Securities.

3.1           Subdivision
  and Combination.  In case the Company shall at any time subdivide or
  combine the outstanding Ordinary Shares, the Exercise Price shall forthwith
  be proportionately decreased in the case of subdivision or increased in the
  case of combination.

3.2           Stock
  Dividends and Distributions.  In case the Company shall pay a dividend
  on, or make a distribution of, Ordinary Shares or of the Companys capital
  stock convertible into Ordinary Shares, the Exercise Price shall forthwith be
  proportionately decreased. An adjustment made pursuant to this Section 3.2 shall
  be made as of the record date for the subject stock dividend or distribution.

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3.3           Adjustment
  in Number of Securities.  Upon each adjustment of the Exercise Price
  pursuant to the provisions of this Section 3, the number of Ordinary Shares
  issuable upon the exercise of each Warrant shall be adjusted to the nearest
  full amount by multiplying a number equal to the Exercise Price in effect immediately
  prior to such adjustment by the number of Ordinary Shares issuable upon exercise
  of the Warrants immediately prior to such adjustment and dividing the product
  so obtained by the adjusted Exercise Price.

3.4           Definition
  of Ordinary Shares.  For the purpose of this Warrant, the term Ordinary
  Shares shall mean (i) the class of stock designated as Ordinary Shares
  in the Articles of Association of the Company as may be amended as of the date
  hereof, or (ii) any other class of stock resulting from successive changes or
  reclassifications of such Ordinary Shares consisting solely of changes in nominal
  value, or from nominal value to no nominal value, or from no nominal value to
  nominal value.

3.5           No Adjustment
  of Exercise Price in Certain Cases.   No adjustment of the Exercise
  Price shall be made if the amount of said adjustment shall be less than 2 cents
  ($.02) per Ordinary Share, provided, however, that in such case any adjustment
  that would otherwise be required then to be made shall be carried forward and
  shall be made at the time of and together with the next subsequent adjustment
  which, together with any adjustment so carried forward, shall amount to at least
  2 cents ($.02) per Ordinary Share.

3.6           Merger or Consolidation. In case of any consolidation of the Company with or merger of the Company with, or merger of the Company
into, (other than a merger which does not result in any reclassification or change of the outstanding
Ordinary Shares), the Company shall cause the corporation formed by such consolidation or merger
to execute and deliver to the Holder a supplemental warrant agreement providing that the Holder of
the Warrant then outstanding or to be outstanding shall have the right thereafter (until the expiration
of such Warrant) to receive, upon exercise of such Warrant, the kind and amount of shares of stock
and other securities and property receivable upon such consilidation or merger, by a holder of the
number of Ordinary Shares of the Company for which such Warrant might have been exercised immediately
prior to such consolidation, merger, sale or transfer. Such supplemental warrant agreement shall
provide for adjustments which shall be identical to the adjustments provided in Section 3. The above
provision of this Subsection shall similarly apply to successive consolidations or mergers.

3.7           Default.  In the event of a default by the Company on payments of interest and/or principal of the Loan Notes
((as defined in the Convertible Loan and Warrant Agreement dated __ July 2003 between the Company
and Holder (the Agreement) and issued pursuant to the terms of the Agreement, the Exercise
Price shall be reduced to the dollar equivalent of NIS 1.00.

4.           Notices to Warrant Holders.  Nothing contained in this Warrant shall be construed as conferring upon the Holder the right
to vote or to consent or to receive notice as a stockholder in respect of any meetings of stockholders
for the election of directors or any other matter, or as having any rights whatsoever as a stockholder
of the Company. If, however, at any time prior to the Expiration Date, any of the following events
shall occur:

(a)  the
Company shall take a record of the holders of its Ordinary Shares for the purpose of entitling them
to receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution
payable otherwise than out of current or retained earnings, as indicated by the accounting treatment
of such dividend or distribution on the books of the Company; or

-4-

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(b)  the
Company shall offer to all the holders of its Ordinary Shares any additional shares of capital stock
of the Company or securities convertible into or exchangeable for shares of capital stock of the
Company, or any option, right or warrant to subscribe therefor; or

(c)  a
dissolution, liquidation or winding up of the Company (other than in connection with a consolidation
or merger) or a sale of all or substantially all of its property, assets and business as an entirety
shall be proposed;

then, in any one or more of said events, the Company shall give to the Holder written notice of such
event at least fifteen (15) days prior to the date fixed as a record date or the date of closing
the transfer books for the determination of the stockholders entitled to such dividend, distribution,
convertible or exchangeable securities or subscription rights, or entitled to vote on such proposed
dissolution, liquidation, winding up or sale.

5.           Non-Transferability

(a)            The Holder covenants and agrees that
the Warrants are being acquired as an investment and not with a view to the distribution thereof.
The Holder shall not sell, transfer, assign, encumber, pledge or otherwise dispose or undertake to
dispose of (Sell) the Warrants until the first anniversary of the Effective Date.  Thereafter,
the Holder may, subject to applicable securities laws, Sell, all or any portion of the Warrants,
provided that the Holder may only Sell the Warrants on two occasions, to no more than five (5) transferees
on each occasion, provided further that on the second such occasion the Holder shall reimburse the
Company with any and all direct costs incurred by the Company connected with such sale, transfer
or assignment including any reasonable registration costs.

(b)
          Unless registered, the Warrant Shares
issued upon exercise of the Warrants shall be subject to a stop transfer order and the certificate
or certificates evidencing such Warrant Shares shall bear legend substantially similar to the following:

| | THE SHARES
      REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
      ACT OF 1933, AS AMENDED, PURSUANT TO A REGISTRATION STATEMENT. ACCORDINGLY,
      SUCH SHARES MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO A REGISTRATION
      STATEMENT UNDER SUCH ACT, OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT. | 
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | 

6.           Loss, etc. of Warrant

Upon receipt of evidence satisfactory to the Company of the loss, theft, destruction or mutilation
of this Warrant, and of indemnity reasonably satisfactory to the Company, if lost, stolen or destroyed,
and upon surrender and cancellation of this Warrant, if mutilated, and upon reimbursement of the
Companys reasonable direct expenses, the Company shall execute and deliver to the Holder a
new Warrant of like date, tenor and denomination.

7.           Registration Rights

Holders of the Ordinary Shares shall be entitled to all of the rights and privileges relating to registration
rights afforded to the Warrant Holders under that the Agreement (including the Registration Rights
Agreement attached thereto)incorporated herein by reference and expressly made a part hereof.

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8.             Headings

The headings of this Warrant have been inserted as a matter of convenience and shall not affect the
construction hereof.

9.             Notices.

Unless otherwise provided, any notice required or permitted under this Warrant shall be given in writing
and shall be deemed effectively given upon personal delivery to the party to be notified or seven
(7) days after deposit with the Post Authority, for dispatch by registered or certified mail, postage
prepaid and addressed to the Holder at the address set forth in the Companys books and to the
Company at the address of its principal offices set forth above, or when given by telecopier or other
form of rapid written communication, provided that confirming copies are sent by such airmail.

10.           Governing Law

This Warrant shall be governed by and construed and enforced in accordance with the laws of the State
of Israel (regardless of the laws that might otherwise govern under applicable Israel principles
of conflicts of law). Anything to the contrary notwithstanding, the provisions of this Section 10
shall not apply to the Registration Rights schedule, which shall be subject to the provisions thereof.

11.           Entire Agreement; Amendment and Waiver

This Warrant and the schedule hereto constitute the full and entire understanding and agreement between
the parties with regard to the subject matters hereof and thereof. Any term of this Warrant may be
amended and the observance of any term hereof may be waived (either prospectively or retroactively
and either generally or in a particular instance) only with the written consent of both the Holder
and the Company.

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IN WITNESS
  WHEREOF, the Company has caused this Ordinary Share Purchase Warrant to
  be executed as of the date first written above.

|NUR MACROPRINTERS
      LTD.             | 
|---------------------------------------- | 
|                                         | 
|By: ____________________________________ | 
|/title                                   | 
|                                         | 
|Agreed and Accepted:                     | 
|                                         | 
|__________________                       | 
|                                         | 
|By: ____________________________________ | 
|/title                                   | 
|                                         | 
|                                         | 



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EXHIBIT A

|WARRANT
      EXERCISE FORM
|---------------------------
|                           
|                           

To:  Nur Macroprinters
  Ltd.

Re:   Exercise of Warrant

The undersigned hereby irrevocably elects to exercise the attached Warrant No. ___ to the extent of
___________________ Ordinary Shares of Nur Macroprinters Ltd. all in accordance with section 1.1(b)
of the Loan Undertaking Warrant . Payment to the Company of the total purchase price for such shares
has been made simultaneously with the delivery of this exercise of warrant. The undersigned requests
that certificates for such Ordinary Shares be registered in the name of ____________________ whose
address is ____________________ and that such certificates be delivered to whose address is _____________________________.

By:  ___________________

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Schedule
  of Warrant Holders



|Name/Entity                          | Warrants
|------------------------------------ | --------
|Dan and
      Edna Purjes            | 331,731 
|First Purjes
      Descendants, LP   | 14,423  
|Second
      Purjes Descendants, LP  | 14,423  
|Y Securities
      Management, Ltd.  | 14,423  
|Myles Wittenstein                    | 288,462 
|Barbara
      Stoller                | 14,423  
|Mark Wittenstein                     | 14,423  
|Bridges
      and PIPES, LLC         | 86,538  
|United
      European Bank and Trust | 86,538  
|Richard
      Ornstein               | 28,846  
|Len Knappmiller                      | 14,423  
|JM Hull
      Associates, L.P.       | 28,846  
|Drake Investments
      Ltd.         | 14,423  
|Gary Gelman                          | 28,846  
|David Amir                           | 14,423  
|The Purjes
      Foundation          | 14,423  

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