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Exhibit 4.26

THIRD ADDENDUM to Unprotected Tenancy Agreement
dated March 6, 2000

Made
and entered into on September 20, 2004

|BETWEEN: | A.
A. BARZILAY INVESTMENTS AND ASSETS LTD.                          PCN 51/253032/0
|-------- | -----------------------------------------------------------------------------------

| | KAMIM
INVESTMENTS AND ASSETS LTD.                        PCN 51/273199/3
| | ------------------------------------------------------------------------

(hereinafter, jointly and severally: the Landlord)

|AND BETWEEN: | NUR MACROPRINTERS LTD.                          PCN 52/003986/8
|------------ | ---------------------------------------------------------------

(hereinafter: NUR)

|WHEREAS | A
lease agreement was entered into between the Landlord and NUR dated March 6, 2000
(hereinafter: the Lease Agreement; all of the terms in
this Addendum shall bear the meaning ascribed to them in
the Lease Agreement, save where stipulated otherwise, in an
express manner, in this Addendum), pursuant to which NUR
leased the building situated in the Lod Industrial Zone in
its entirety, as defined in the Lease Agreement (hereinafter:
the Premises) from the Landlord;
|------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|AND WHEREAS | According  to clause 18 of the lease  agreement,  NUR is entitled to rent
out parts of the                             Premises by way of a sub-lease;
|----------- | ------------------------------------------------------------------------------------------------------------------------------------------------------

|AND WHEREAS | NUR makes no use of part of the second floor of the Premises;
|----------- | -------------------------------------------------------------

|AND WHEREAS | NUR is  interested  in renting out to another  lessee part of the second
 floor of a total                             area of  approximately  700 sq. m., with
the  addition  of 15 parking  spaces on the lower                             parking
 level  (Floor  -2)  and   warehouse   space  on  the  upper  parking  level  (-1)
                            (hereinafter:  the Second Floor Area), as detailed in the
plan attached as Appendix A to                             this Addendum (hereinafter:
the Additional Tenant);
|----------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|AND WHEREAS | NUR has asked for the Lease  Agreement  to be executed  directly  between
the Landlord and                             the  Additional  Tenant,  and the  Landlord
 is  prepared  to  execute  a lease  agreement                             directly with
the Additional Tenant;
|----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|AND WHEREAS | The parties wish to determine  between  themselves  all of the terms and
 conditions  that                             relate to the said rental, pursuant to the
provisions of this Addendum;
|----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# WHEREFORE, IT IS
HEREBY AGREED AND WARRANTED BETWEEN THE PARTIESAS FOLLOWS:



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|1. | NUR gives its consent to the Landlord to rent out the Second Floor Area
          commencing October 1, 2004 pursuant to a rental contract, a copy of which is
          attached herewith as Appendix B to this Addendum, and between this date
          and the termination of the rental according to the Lease Agreement the Second
          Floor Area shall be removed from the definition of the Premises and
          the provisions of the Lease Agreement shall cease to apply to the Second Floor
          Area.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. | The rental fees for the Second Floor Area shall be paid to the Landlord by the
          Additional Tenant.
|-- | -----------------------------------------------------------------------------------------------------------

|3. | The rental fees received by the Landlord from the Additional Tenant for the
          period commencing October 1, 2004 and ending October 31, 2005 shall be deducted
          from those rental fees that are actually paid by NUR under the Lease Agreement,
          commencing August 1, 2003. The foregoing shall not derogate from NURs
          obligation to pay the full rental owed under the Lease Agreement.
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4. | The works for adjusting the Second Floor Area as agreed with the Additional
          Tenant shall be divided between the parties in the following manner:
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------

| | A. | In
respect of the works on the Second Floor Area, NUR undertakes as follows:
| | -- | ----------------------------------------------------------------------------

| | 1. | To
provide one maintenance employee for up to 4 days to supervise the removal,
               the assembly and the adjustment of part of the existing movable walls as
               required by the Additional Tenant.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 2. | To
disconnect several communication lines from the side connected to the main
               communications box and to transfer such lines to a specific point on the
Second                Floor Area.
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | B. | NUR
shall contribute the sum of US$6,000 + VAT to the cost of the adjustment
               works. NUR and the Landlord shall offset this amount in the course of
their                mutual accounting for the payment of the rental fees under the Lease
Agreement                as stated above.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | C. | The
Landlord shall pay the Additional Tenant the sum of US$10,000 + VAT in
               respect of its contribution to the cost of the adjustment works which the
               Additional Tenant shall execute in the Second Floor Area.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | D. | Anything
found in the Second Floor Area shall belong to the Landlord. However,                the
foregoing shall not derogate from the existing disputes between the parties
               concerning the ownership of the movable walls situated in this area.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5. | Municipal taxes shall be paid to NUR by the Additional Tenant on a monthly basis
          according to its relative share of the building pursuant to the terms of the
          lease agreement between the Landlord and the Additional Tenant, which shall
          contain an explicit provision mandating the Additional Tenant to perform the
          said payments at NURs demand, and Nur shall be entitled to claim these
          sums from the Additional Tenant.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|6. | Electricity shall be paid by the Additional Tenant to NUR on a monthly basis on
          a low voltage tariff basis at the relevant time using a meter which shall be
          installed on the Second Floor Area pursuant to the provisions of the lease
          agreement between the Landlord and the Additional Tenant, which shall contain an
          explicit provision mandating the Additional Tenant to perform the said payments
          at NURs demand, and NUR shall be entitled to claim these sums from the
          Additional Tenant.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

2

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|7. | Management Fees  The Additional Tenant shall pay NUR, on a monthly basis,
          for the period ending October 30, 2005, management fees in the sum of $1,000 +
          VAT against presentment of a tax invoice according to the provisions of the
          lease agreement between the Landlord and the Additional Tenant, which shall
          contain an explicit provision mandating the Additional Tenant to perform the
          said payments at NURs demand, and Nur shall be entitled to claim these
          sums from the Additional Tenant.
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | It
is hereby clarified that the management fees until October 30, 2005 include the following
services:
| | ------------------------------------------------------------------------------------------------------

| | (a) | building
security;
| | --- | ------------------

| | (b) | lift
maintenance;
| | --- | -----------------

| | (c) | cleaning
of public areas, save for the services on the second floor which shall           be
cleaned on a daily basis in the evening hours;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------

| | (d) | electricity
in the public areas;
| | --- | --------------------------------

| | (e) | electricity
for the air conditioning;
| | --- | -------------------------------------

| | (f) | building
insurance;
| | --- | -------------------

| | (g) | fire
suppression care and maintenance.
| | --- | --------------------------------------

|8. | Should NUR decide to realize the option to which it is entitled under the Lease
          Agreement for a further period after November 1, 2005, the Additional Tenant
          shall pay NUR management fees as agreed between the two, and in the absence of
          agreement its proportionate share of the actual costs of the management fees and
          the maintenance of the building.
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|9. | Stamp duty, in so far as it shall apply to this Addendum, shall be paid by the
          parties in equal shares.
|-- | -----------------------------------------------------------------------------------------------------------------

|10. | All the remaining terms and conditions of the Lease Agreement shall remain in
          force.
|--- | ----------------------------------------------------------------------------------------------

# As testimony the sides
affix their signatures:

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                                                                                                                                                
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|A. A. Barzilay Investments and Assets Ltd.
                   [Signature + Stamp]    
Signature:    ____________________________
Name:         Adi Barzilay                
Position:     Director                    
                                          
                                          
Kamim Investments and Assets Ltd.         
                                          
                                          
                   [Signature + Stamp]    
Signature:    ____________________________
Name:         Joseph Kaploi               
Position:     Director | NUR Macroprinters Ltd.
                   [Signature]
Signature:    _____________________
Name:         David Amir
Position:     CEO
                   [Signature]
Signature:    _____________________ 
Name:         David Seligman        
Position:     CFO

3

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