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Exhibit 4.17

# Special Collective
Agreement

Made
and entered into on May 29, 2006

|Between: | Blue
Square  Israel Ltd.
|-------- | -------------------------

| | (hereinafter
 the Company)
| | -----------------------------

Of the One Part

|A n d : | Union
of Clerical, Administrative and Public 
Services Employees (MA'OF)
|------- | ------------------------------------------------------------------------

| | WorkersCommittee
| | -----------------

| | (hereinafter
 Workers Representation)
| | -----------------------------------------

Of the Other Part

|WHEREAS | the
parties  desire to mutually  increase the  provisions  transferred by the employee
                  and the Company to a savings fund;
|------- | -------------------------------------------------------------------------------------------------------------------------------------------

# THEREFORE the parties
hereby specify as follows:

|1. | The
 provisions  to a savings fund shall be made as of the beginning of the  employee's
 fourth          year in the  Company,  at the rate of 3% at the  Company's  expense,
 and 3% at the  employee's          expense.  In the case of an  employee  who shall
 request  in  writing  to reduce  his share to          1.5%,  the Company  shall deduct
only 1.5% from his salary and shall,  in parallel,  reduce the          Company's share
to 1.5%.
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. | With
 respect to  existing  employees  for whom the  Company is already  allocating  funds to
a          savings fund as at the date hereof,  the Company  shall  increase its
 provisions  to 3% to the          savings  fund,  commencing  with the salary for
January  2006 (and in any case,  not before the          date of  commencement  of the
employee's  entitlement to a savings fund, as set forth in Clause          1 above),  and
in parallel  shall  deduct 3% from the  employee's  salary.  Provisions  for the
         period  from  January  2006  until the date of  signature  hereof  shall be
 deducted  from the          employee as a lump-sum,  and in parallel the Company shall
transfer its share  correspondingly.          In the case of an employee  who shall
 express his  objection in writing to the increase in his          share,  the  Company
 shall  continue to deduct  1.5% from his salary  and,  in  parallel,  the
         Company's share shall remain 1.5%.
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|3. | Without
 derogating  from the  foregoing,  with  respect to an employee  who shall  express his
         objection  in writing to the  provision  to a savings  fund,  the Company  shall
not deduct any          amount  from  his  salary  as of the  date on  which  the
 employee's  letter  is  received  as          aforesaid,  and  furthermore,  the Company
shall be exempt from  transferring  its share to the          savings account.  It is
further  clarified,  for the removal of doubt, that existing  employees          with
respect to whom the Company  presently  makes no  allocations  to a savings fund as at
the          date hereof at the request of such  employees,  to the extent such
 employees  shall request in          writing  to have  their  provisions  transferred
 to a  savings  fund,  the  Company  shall act          accordingly and shall make
allocations to a savings fund for them as set forth herein.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. | This
Agreement shall take effect as of January 1, 2006.
|-- | -------------------------------------------------------

|3. | The
parties agree to register this  agreement as a Collective  Agreement  under the
 Collective          Agreements Law, 5717 - 1957.
|-- | -------------------------------------------------------------------------------------------------------------------------------------

# IN WITNESS WHEREOF the
parties have hereunto signed:

|Blue Square Israel Ltd.
                       
                       
                       
By: /s/ David Weissman
/s/ Gil Unger          

The Company | Eyal Eli
Chairman of the 
Workers Committee 
                      
By: /s/ Eyal Eli 

The Workers' Committee | Israel General Labor FederationUnion of Clerical, Administrative and
Public Services Employees
The Central Committee
By: /s/ The Clerical Workers' Union

The Clerical Workers' Union
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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