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|   | · | Valuation of options granted in October 2006 under the Company's 2006 Employee Stock Option Plan ("ESOP 2006"), dated February 2007; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Valuation of options granted in March 21, 2007 under the framework of ESOP 2006, dated June 2007; |
|--------|--------|---------------------------------------------------------------------------------------------------|

|   | · | Valuation report in respect of options granted in May 29, 2007 under the framework of ESOP 2006, dated June 2007; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------|

|   | · | Valuation report in respect of options granted in August 30, 2007 under the framework of ESOP 2006, dated October 2007; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------|

|   | · | Valuation report in respect of options granted in November 25, 2007 under the framework of ESOP 2006, dated February 2008; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------|

|   | · | Valuation report in respect of options re-priced in November 1, 2007 under the framework of ESOP 2006, dated November  2007; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Valuation report in respect of options granted in March 26, 2008 under the framework of ESOP 2008, dated April 2008; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------|

|   | · | Valuation report in respect of options granted in May 27, 2008 under the framework of ESOP 2008, dated June 2008; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------|

|   | · | Valuation report in respect of options granted in August 25, 2008 under the framework of ESOP 2008, dated November 2008; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------|

|   | · | Valuation report in respect of options granted in November 25, 2008 under the framework of ESOP 2008, dated April 2009; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------|

|   | · | Valuation report in respect of options re-priced in October 25, 2008 under the framework of ESOP 2008, dated February  2009; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------|

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|   |      Very truly yours,         |
|--------|---------------------------------------------------------|
|   |                                                    |
|   |  /s/ BDO Ziv Haft Consulting & Management Ltd. |
|   |  BDO Ziv Haft Consulting & Management Ltd.     |

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