Document:

F-1/A

                                                                     EXHIBIT 4.1

                             RIGHTS AGENT AGREEMENT

                              _______________, 2010

American Stock Transfer & Trust Company, LLC
59 Maiden Lane
New York, New York 10038

Ladies and Gentlemen:

In connection with your appointment as Subscription Agent in the transaction
described herein, Tefron Ltd. (the Company), hereby confirms its arrangements
with you as follows:

1.   RIGHTS OFFERING - The Company is distributing (the "Rights offering") to
     the holders of its ordinary shares, par value NIS 10.0 per share ("Ordinary
     Shares"), on ____________, 2010 (the "Record Date"), transferable rights
     ("Rights") to purchase an aggregate of up to 1,578,947 Ordinary Shares.
     Except as set forth under Paragraphs 8 and 9 below, Rights shall cease to
     be exercisable at 5:00 p.m., New York City time, on _______________, 2010
     or such later date of which the Company notifies you orally and confirms in
     writing (the "Expiration Date"). One Right is being issued for each 1.3429
     Ordinary Shares held on the Record Date. One Right and payment in full of
     the subscription price of $3.8 (the "Subscription Price") is required to
     subscribe for one Ordinary Share. Rights are evidenced by transferable
     rights certificates in registered form ("Rights Certificates"). The Rights
     Offering will be conducted in the manner and upon the terms set forth in
     the Company's Prospectus dated _______________, 2010 (the "Prospectus"),
     which is incorporated herein by reference and made a part hereof as if set
     forth in full herein.

2.   APPOINTMENT OF RIGHTS AGENT - You are hereby appointed as Rights Agent to
     effect the Rights offering in accordance with the Prospectus. Each
     reference to you in this letter is to you in your capacity as Rights Agent
     unless the context indicates otherwise.

3.   DELIVERY OF DOCUMENTS - Enclosed herewith are the following, the receipt of
     which you acknowledge by your execution hereof:

     (a) a copy of the Prospectus, which includes instructions for exercise of
     the Rights (the "Instructions");

     (b) the form of Rights Certificate (with instructions);and

     (c)Notice of Guaranteed Delivery.

     As soon as is reasonably practical, you shall mail or cause to be mailed,
     via first class mail, to each holder of Ordinary Shares at the close of
     business on the Record Date a Rights Certificate (with instructions)
     evidencing the Rights to which such holder is entitled, a Notice of
     Guaranteed Delivery, a Prospectus, and an envelope addressed to you. You
     and the Company may mutually agree that you shall use methods other than
     first class mail, including personal delivery, delivery by International
     Express Mail, or delivery by recognized expedited courier service such as
     Federal Express, UPS, DHL or Courier Network. Prior to mailing, the Company
     will provide you with blank Rights Certificates which you will prepare and
     issue in the names of holders of Ordinary Shares of record at the close of
     business on the Record Date and for the number of Rights to which they are
     entitled. The Company will also provide you with a sufficient number of
     copies of each of the documents to be mailed with the Rights Certificates.
     With respect to each rights certificate that you are required to mail
     hereunder, you shall maintain a blanket surety bond protecting you and the
     Company from loss or liability arising out of non-receipt or non-delivery
     of such certificates.

                                       1

4.   SUBSCRIPTION PROCEDURE -

     (a) Upon your receipt prior to 5:00 p.m., New York City time, on the
     Expiration Date (by mail or delivery), as Rights Agent, of (ii) any Rights
     Certificate completed and endorsed for exercise, as provided on the reverse
     side of the Rights Certificate (except as provided in paragraph 8 hereof),
     and (ii) payment in full of the Subscription Price in U.S. funds by check,
     bank draft or money ORDER payable at par (without deduction for bank
     service charges or otherwise) to the order of American Stock Transfer &
     Trust Company, you shall as soon as practicable after the Expiration Date,
     mail to the subscriber's registered address on the books of the Company
     certificates representing the Ordinary Shares duly subscribed for and
     furnish a list of all such information to the Company.

     (b) Funds received by you pursuant to the exercise by shareholders of their
     subscription right shall be held by you in a segregated account to be
     maintained by you. You are hereby authorized and directed to endorse,
     negotiate and deposit all subscription payments into this account, and you
     shall provide an accounting to the Company from time to time, as the
     Company may reasonably request, regarding the subscription payments
     deposited into such account. Upon mailing certificates representing the
     Ordinary Shares, you shall promptly remit to the Company all funds received
     in payment of the Subscription Price for Ordinary Shares sold in the Rights
     Offering.

5.   SUBDIVISION, SALE OR TRANSFER OF RIGHTS - Until 5:00 p.m., New York City
     time, on the third business day prior to the Expiration Date, you shall
     facilitate subdivision or transfers of Rights Certificates by issuing new
     Rights Certificates in accordance with the instructions set forth on the
     reverse side of the Rights Certificates.

6.   DEFECTIVE EXERCISE OF RIGHTS; LOST RIGHTS CERTIFICATES - The Company shall
     have the absolute right to reject any defective exercise of Rights or to
     waive any defect in exercise. Subscriptions will not be deemed to have been
     made until any such defects or irregularities have been cured or waived
     within such time as the Company shall determine. If the Company delivers to
     you a notice that the Company rejects any defective exercise of Rights, you
     shall as soon as practicable (i) if the defect and the necessary correction
     can be adequately explained by telephone and the holder can correct the
     defect without possession of the Rights Certificate(s), attempt to contact
     the holder of such Rights by telephone to explain the nature of the defect
     or (ii) return Rights Certificates with the defects or irregularities which
     have not been cured or waived to the holder of the Rights, together with a
     letter explaining the nature of the defect in exercise and how to correct
     the defect. Any rights certificate with respect to which defects in
     exercise are not corrected prior to 5:00 p.m., New York City time, on the
     Expiration Date, or which are received after such time, shall be returned
     to the holder of such Rights Certificates. If any Rights Certificate is
     alleged to have been lost, stolen or destroyed, you should follow the same
     procedures followed for lost stock certificates representing Ordinary
     Shares you use in your capacity as transfer agent for the Company's
     Ordinary Shares.

                                       2

7.   LATE DELIVERY - If prior to 5:00 p.m., New York City time, on the
     Expiration Date you receive (i) payment in full of the Subscription Price
     for the Ordinary Shares being subscribed for and (ii) a guarantee notice
     substantially in the form of the Notice of Guaranteed Delivery delivered
     with the Rights Certificate, from a financial institution having an office
     or correspondent in the United States, or a member firm of any registered
     United States national securities exchange or of the National Association
     of Securities Dealers, Inc. stating the certificate number of the Rights
     Certificate relating to the Rights, the name and address of the exercising
     subscriber, the number of Rights represented by the Rights Certificate held
     by such exercising subscriber, the number of Units being subscribed for
     pursuant to the Rights and guaranteeing the delivery to you of the Rights
     Certificate evidencing such Rights within three Over the Counter Bulletin
     Board ("OTCBB") trading days following the date of the Notice of Guaranteed
     Delivery, then the Rights may be exercised even though the Rights
     Certificate was not delivered to you prior to 5:00 p.m., New York City
     time, on the Expiration Date, provided that within three OTCBB trading days
     following the date of the Notice of Guaranteed Delivery you receive the
     properly completed Rights Certificate evidencing the Rights being
     exercised, with signatures guaranteed if required.

8.   DELIVERY - You shall deliver to the Company the exercised Rights
     Certificates in accordance with written directions received from the
     Company and shall deliver to the subscribers who have duly exercised Rights
     at their registered addresses certificates representing the securities
     subscribed for as instructed on the reverse side of the Rights
     Certificates. All Rights Certificates surrendered for the purpose of
     exercise shall, if surrendered to you shall be cancelled by you, and no
     Rights Certificates shall be issued in lieu thereof except as expressly
     permitted by any of the provisions of this Agreement.

9.   REPORTS - You shall notify the Company by telephone on or before the close
     of business on each business day during the period commencing 5 business
     days after the mailing of the Rights and ending at the Expiration Date (and
     in the case of guaranteed deliveries ending three OTCBB trading days after
     the Expiration Date) (a "daily notice"), which notice shall thereafter be
     confirmed in writing, of (i) the number of Rights exercised on the day
     covered by such daily notice, (ii) the number of Rights subject to
     guaranteed exercises on the day covered by such daily notice, (iii) the
     number of Rights for which defective exercises have been received on the
     day covered by such daily notice, (iv) the aggregate subscription payments
     made on such date and (v) the cumulative total of the information set forth
     in clauses (i) through (v) above. At or before 5:00 p.m., New York City
     time, on the first OTCBB trading day following the Expiration Date you
     shall certify in writing to the Company the cumulative total through the
     Expiration Date of all the information set forth in clauses (i) through
     (iii) above. At or before 10:00 a.m., New York City time, on the fifth
     OTCBB trading day following the Expiration Date you will execute and
     deliver to the Company a certificate setting forth the number of Rights
     exercised pursuant to a Notice of Guaranteed Delivery and as to which
     Rights Certificates have been timely received. You shall also maintain and
     update a listing of holders who have fully or partially exercised their
     Rights, holders who have transferred their Rights and their transferees,
     and holders who have not exercised their Rights. You shall provide the
     Company or its designees with such information compiled by you pursuant to
     this paragraph 9 as any of them shall request.

                                       3

10.  FUTURE INSTRUCTIONS - With respect to notices or instructions to be
     provided by the Company hereunder, you may rely and act on any written
     instruction signed by any one or more of the following authorized officers
     or employees of the Company:

     Yacov Gelbard
     Eran Rotem

11.  PAYMENT OF EXPENSES - The Company will pay you compensation for acting in
     your capacity as Rights Agent hereunder in the amount of $___________ plus
     your reasonable out-of-pocket expenses not to exceed $2,000 without the
     prior written consent of the Company. The Company will pay an additional
     fee equal to one-third of the Rights Agent fee for each extension of the
     Offering, plus any out-of-pocket expenses associated with such extension.

     Fees will be paid by:

              Name:        Tefron Ltd.
              Attention:   Eran Rotem
              Address:     Industrial Center, Teradyon
                           P.O. Box 1365
                           Misgav, 20179, Israel
              Phone:       +972-4-9900803

12.  COUNSEL - You may consult with counsel satisfactory to you, which may be
     counsel to the Company, and the advice or opinion of such counsel shall be
     full and complete authorization and protection in respect of any action
     taken, suffered OR omitted by you hereunder in good faith and in accordance
     with such advice or opinion of such counsel.

13.  INDEMNIFICATION - The Company covenants and agrees to indemnify and hold
     you harmless against any costs, expenses (including reasonable fees of
     legal counsel), losses or damages, which may be paid, incurred or suffered
     by or to which you may become subject arising from or out of, directly or
     indirectly, any claim or liability resulting from your actions as Rights
     Agent pursuant hereto; provided that such covenant and agreement does not
     extend to such costs, expenses, losses and damages incurred or suffered by
     you as a result of, or arising out of, your own gross negligence,
     misconduct or bad faith or that of any employees, agents or independent
     contractors used by you in connection with performance of your duties as
     Rights Agent hereunder. If any action is brought against you in respect of
     which indemnity may be sought against the Company pursuant to this
     Paragraph 13, you shall promptly notify the Company in writing of the
     institution of such action and the Company may, at its option, assume the
     defense of such action, including the employment and fees of counsel (which
     counsel shall be reasonably satisfactory to you) and payment of expenses.
     You shall have the right to employ your own counsel in any such case, but
     the fees and expenses of such counsel shall be at your expense unless the
     employment of such counsel shall have been authorized in writing by the
     Company in connection with the defense of such action or the Company shall
     not have employed counsel to have charge of the defense of the action, in
     any of which events the fees and expenses of not more than one additional
     firm of attorneys for you shall be borne by the Company.

                                       4

14.  NO ASSIGNMENT; DELEGATION - Neither this Agreement nor any rights or
     obligations hereunder may be assigned or delegated by either party without
     the prior written consent of the other party.

15.  FACSIMILE SIGNATURES - Any facsimile signature of any party hereto shall
     constitute a legal, valid and binding execution hereof by such party.

16.  NOTICES - Unless otherwise provided herein, all reports, notices and other
     communications required or permitted to be given hereunder shall be in
     writing and delivered by hand or confirmed telecopy or by first class U.S.
     mail, postage prepaid, shall be deemed given if by hand or telecopy, upon
     receipt or if by U.S. mail, three business days after deposit in the U.S.
     mail and shall be addressed as follows:

     (a)  If to the Company, to:

          Tefron Ltd.
          Industrial Center, Teradyon
          P.O. Box 1365
          Misgav, 20179, Israel
          Attn: Eran Rotem
          Telephone: +972-4-9900803

          with copy to:

          Perry Wildes, Adv.
          Gross, Kleinhendler, Hodak, Halevy, Greenberg & Co.
          One Azrieli Center
          Tel Aviv 67021, Israel
          Telephone: +972-3-607-4444

     (b)  If to you, to:

          American Stock Transfer & Trust Company, LLC
          59 Maiden Lane
          New York, N.Y. 10038
          Attention: George Karfunkel
          Telephone: (718) 921-8200
          Telecopy: (718) 236-4588

                                      Yours truly,

                                      By: ___________________________________
                                      Name: Eran Rotem
                                      Title: Chief Financial Officer

                                       5

Agreed & Accepted:
AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC

By: _______________________________

Name: _____________________________

Title: _______________________________

                                       6F-1/A

                                                                     Exhibit 4.3

RIGHTS CERTIFICATE #:                                           NUMBER OF RIGHTS

     THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE
     COMPANY'S PROSPECTUS DATED _____ __, 2010 (THE "PROSPECTUS") AND ARE
     INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE
     UPON REQUEST FROM THE ALTMAN GROUP, INC., THE INFORMATION AGENT.

                                   TEFRON LTD.

                    Incorporated under the laws of the State
                                    of Israel

                         SUBSCRIPTION RIGHTS CERTIFICATE

                   Evidencing Subscription Rights to Purchase
                         Ordinary Shares of Tefron Ltd.

                       Subscription Price: $3.8 per Share

           THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR
                      BEFORE 5:00 P.M., NEW YORK CITY TIME,
               ON _______ __, 2010, UNLESS EXTENDED BY THE COMPANY

REGISTERED OWNER:

     THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is
     the owner of the number of subscription rights ("Rights") set forth above.
     Each whole Right entitles the holder thereof to subscribe for and purchase
     one Ordinary Share, with a par value of NIS 10.0 per share, of Tefron Ltd.,
     an Israeli corporation, at a subscription price of $3.8 per share, pursuant
     to a rights offering (the "Rights Offering"), on the terms and subject to
     the conditions set forth in the Prospectus and the "Form of Instructions as
     to Use of Tefron Ltd. Subscription Rights Certificates" accompanying this
     Subscription Rights Certificate.

     There is no over-subscription privilege. The Rights represented by this
     Subscription Rights Certificate may be exercised by completing Form 1 and
     any other appropriate forms on the reverse side hereof and by retuning the
     full payment of the subscription price for each Ordinary Share in
     accordance with the instructions set forth in the Prospectus.

     This Subscription Rights Certificate is not valid unless countersigned by
     the subscription agent and registered by the registrar. Witness the seal of
     Tefron Ltd. and the signatures of its duly authorized officers.

     Dated:

----------------------                              -----------------------
Chief Executive Officer                             Chief Financial Officer

              DELIVERY OPTIONS FOR SUBSCRIPTION RIGHTS CERTIFICATE

   Delivery other than in the manner or to the addresses listed below will not
                           constitute valid delivery.

          IF DELIVERING BY HAND:           IF DELIVERING BY MAIL OR OVERNIGHT COURIER:
 American Stock Transfer & Trust Company     American Stock Transfer & Trust Company
            Operations Center                           Operations Center
     Attn: Reorganization Department             Attn: Reorganization Department
              59 Maiden Lane                            6201 15th Avenue
         New York, New York 10038                   Brooklyn, New York 11219

               PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

FORM 1-EXERCISE OF SUBSCRIPTION RIGHTS

To subscribe for ordinary shares, please complete lines (a) and (b) and sign
under Form 4 below.

(a)  EXERCISE OF SUBSCRIPTION RIGHTS:

I apply for ______________ shares x $ 3.8    =   $____________________
          (no. of new shares)   (subscription price)  (amount enclosed)

(b)  METHOD OF PAYMENT (CHECK ONE)

[_]  Cashier's or certified check drawn on a bank located in the United States
     and payable to the order of "American Stock Transfer & Trust Company, as
     Rights Agent." Funds paid by an uncertified check may take at least five
     business days to clear.

[_]  Wire transfer of immediately available funds directly to the account
     maintained by American Stock Transfer & Trust Company, LLC, as Subscription
     Agent, for purposes of accepting subscriptions in this Rights Offering at
     JPMorgan Chase Bank, 55 Water Street, New York, New York 10005, ABA
     #021000021, Account # 323-836895 American Stock Transfer FBO Tefron Ltd.,
     with reference to the rights holder's name.

FORM 2-SALE OR TRANSFER TO DESIGNATED TRANSFEREE OR THROUGH BANK OR BROKER

To sell or transfer your subscription rights to another person, complete this
form and have your signature guaranteed under Form 5. To sell your subscription
rights through your bank or broker, sign below under this Form 2 and have your
signature guaranteed under Form 5, but leave the rest of this Form 2 blank.

For value received ______________ of the subscription rights represented by this
Subscription Rights Certificate are assigned to:

________________________________________________________________
Print Full Name of Assignee)

________________________________________________________________
(Print Full Address)

Social Security # __________________________________________________

Signature(s): ______________________________________________________

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the
reverse of this Subscription Rights Certificate in every particular, without
alteration or enlargement, or any other change whatsoever.

FORM 3-DELIVERY TO DIFFERENT ADDRESS

If you wish for the ordinary shares underlying your subscription rights to be
delivered to an address different from that shown on the face of this
Subscription Rights Certificate, please enter the alternate address below, sign
under Form 4 and have your signature guaranteed under Form 5.

________________________________________________________________

________________________________________________________________

________________________________________________________________

FORM 4-SIGNATURE

TO SUBSCRIBE: I acknowledge that I have received the Prospectus for this Rights
Offering and I hereby irrevocably subscribe for the number of shares indicated
above on the terms and conditions specified in the Prospectus.

Signature(s): ______________________________________________________

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the
reverse of this Subscription Rights Certificate in every particular, without
alteration or enlargement, or any other change whatsoever.

FORM 5-SIGNATURE GUARANTEE

This form must be completed if you have completed any portion of Forms 2 or 3.

Signature Guaranteed: _______________________________________________
                              (Name of Bank or Firm)

 By:_______________________________________________________________
                               (Signature of Officer)

IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor
institution (bank, stock broker, savings & loan association or credit union)
with membership in an approved signature guarantee medallion program pursuant to
Securities and Exchange Commission Rule 17Ad-15.

FOR INSTRUCTIONS ON THE USE OF TEFRON LTD. SUBSCRIPTION RIGHTS CERTIFICATES,
CONSULT THE ALTMAN GROUP, INC., THE INFORMATION AGENT, AT (877) 896-3194.

                                       2

                              FORM OF INSTRUCTIONS
                                  AS TO USE OF
                                   TEFRON LTD.
                        SUBSCRIPTION RIGHTS CERTIFICATES

               CONSULT THE INFORMATION AGENT, YOUR BANK OR BROKER
                               AS TO ANY QUESTIONS

     The following instructions relate to a rights offering (the "Rights
Offering") by Tefron Ltd., an Israeli company ("Tefron"), to the holders of
record (the "Recordholders") of its ordinary shares, par value NIS 10.0 per
share (the "Ordinary Shares"), as described in the Tefron prospectus dated
[_________] [_], 2010 (the "Prospectus"). Recordholders of Ordinary Shares as of
5:00 p.m., New York City time, on [________________], 2010 (the "Record Date")
are receiving transferable subscription rights (the "Rights") to subscribe for
and purchase Ordinary Shares. An aggregate of 1,578,947 underlying Ordinary
Shares are being offered by the Prospectus. Each Recordholder will receive one
Right for each 1.3429 Ordinary Shares owned of record as of 5:00 p.m., New York
City time, on the Record Date. The Rights will expire, if not exercised, at 5:00
p.m., New York City time, on [__________], 2010, unless extended in the sole
discretion of Tefron (as it may be extended, the "Expiration Date"). After the
Expiration Date, unexercised Rights will be null and void. Tefron will not be
obligated to honor any purported exercise of Rights received by American Stock
Transfer & Trust Company, LLC (the "Rights Agent") after 5:00 p.m., New York
City time, on the Expiration Date, regardless of when the documents relating to
such exercise were sent, except pursuant to the Guaranteed Delivery Procedures
described below. Tefron may extend the Expiration Date by giving oral or written
notice to the Rights Agent on or before the Expiration Date, followed by a press
release no later than 9:00 a.m., New York City time, on the next business day
after the previously scheduled Expiration Date. The Ordinary Shares are quoted
on the Over the Counter Bulletin Board ("OTCBB") under the symbol "TFRFF.OB" and
are listed on the Tel Aviv Stock Exchange in Israel under the Symbol "TFRLF."
The Rights are transferable, and we have applied to quote the Rights on the
OTCBB. We have also applied to list the Rights on the TASE under the symbol
"[______]" for one day only on _______, 2010. The Rights will be evidenced by
Rights certificates (the "Rights Certificates"), which will be transferable
until the close of business on the last OTCBB trading day preceding the
Expiration Date, at which time they will cease to have value.

     Each Right entitles the holder thereof to purchase one Ordinary Share (the
"Subscription Privilege") at the cash price of $3.8 per share (the "Subscription
Price").

     The number of Rights to which you are entitled is printed on the face of
your Rights Certificate. You should indicate your wishes with regard to the
exercise of your Rights by completing the appropriate portions of your Rights
Certificate and returning the certificate to the Rights Agent in the envelope
provided, in accordance with these instructions and the terms set forth in the
Prospectus.

     YOUR RIGHTS CERTIFICATES, OR NOTICE OF GUARANTEED DELIVERY, AND
SUBSCRIPTION PRICE PAYMENT, INCLUDING FINAL CLEARANCE OF ANY CHECKS, MUST BE
RECEIVED BY THE RIGHTS AGENT ON OR BEFORE 5:00 P.M., NEW YORK CITY TIME, ON THE
EXPIRATION DATE. ONCE A HOLDER OF RIGHTS HAS EXERCISED ITS SUBSCRIPTION
PRIVILEGE, SUCH EXERCISE MAY NOT BE REVOKED. RIGHTS NOT EXERCISED PRIOR TO THE
EXPIRATION DATE OF THE RIGHTS OFFERING WILL EXPIRE AND BE NULL AND VOID.

1.   METHOD OF SUBSCRIPTION - EXERCISE OF RIGHTS.

     To exercise Rights, complete your Rights Certificate and send your properly
completed and executed Rights Certificate evidencing such Rights with any
signatures required to be guaranteed so guaranteed, together with payment in
full of the Subscription Price for each Ordinary Share subscribed for pursuant
to the Subscription Privilege, to the Rights Agent, on or prior to 5:00 p.m.,
New York City time, on the Expiration Date. Payment of the Subscription Price
will be held in a segregated account to be maintained by the Rights Agent. All
payments must be made in U.S. dollars for the full number of Ordinary Shares
being subscribed for (a) by cashier's or certified check drawn upon a U.S. bank
payable to American Stock Transfer & Trust Company LLC, as Rights Agent, or (b)
by wire transfer of immediately available funds, to the account maintained by
the Rights Agent for purposes of accepting subscriptions in the Rights Offering
at JP Morgan Chase, ABA No.021000021, further credit to Account Number
323-836895, reference Tefron Ltd., Attention: Reorganization Department (the
"Subscription Account"). Any wire transfer should clearly indicate the identity
of the subscriber who is paying the Subscription Price by wire transfer and the
Rights Certificate number. Additionally for wire transfers, send your Rights
Certificate via overnight courier to be delivered on the next business day
following the day of the wire transfer to the Rights Agent. Payments will be
deemed to have been received upon (i) receipt by the Rights Agent of a cashier's
or certified check drawn upon a U.S. bank payable to the Rights Agent or (ii)
receipt of collected funds in the Subscription Account designated above.
Personal checks will not be accepted. You are responsible for any wire transfer
fees.

                                       3

     The Rights Certificate and payment of the Subscription Price (other than
wire transfers), or, if applicable, the Notice of Guaranteed Delivery (as
defined below) must be delivered by the Expiration Date to the Rights Agent by
one of the methods described below:

           IF DELIVERING BY MAIL:                  IF DELIVERING BY HAND OR COURIER:

American Stock Transfer & Trust Company, LLC  American Stock Transfer & Trust Company, LLC
              Operations Center                            Operations Center
       Attn: Reorganization Department              Attn: Reorganization Department
              6201 15th Avenue                               59 Maiden Lane
          Brooklyn, New York 11219                      New York, New York 10038

          BY FACSIMILE TRANSMISSION FOR NOTICE OF GUARANTEED DELIVERY:
                                 (718) 234-5001

                       TELEPHONE NUMBER FOR CONFIRMATION:
                            Toll Free: (877) 248-6417
                                 (718) 921-8317

                        Telephone Number for Information:
                            Toll Free: (877) 896-3194
                    Information Agent, The Altman Group, Inc.

        DELIVERY TO AN ADDRESS OTHER THAN THOSE ABOVE DOES NOT CONSTITUTE
                                 VALID DELIVERY.

     By making arrangements with your bank or broker for the delivery of funds
on your behalf you may also request such bank or broker to exercise the Rights
Certificate on your behalf. Alternatively, you may cause a written guarantee
substantially in the form of Exhibit A to these instructions (the "Notice of
Guaranteed Delivery"), from an "Eligible Guarantor Institution," as such term is
defined in Rule 17Ad-15 of the Securities Exchange Act of 1934, as amended, such
as a member firm of a registered national securities exchange or a member of the
Financial Industry Regulatory Authority, Inc., or a commercial bank or trust
company having an office or correspondent in the U.S., subject to standards and
procedures adopted by the Rights Agent (each, an "Eligible Institution"), to be
received by the Rights Agent on or prior to the Expiration Date together with
payment in full of the applicable Subscription Price. Such Notice of Guaranteed
Delivery must state your name, the number of Rights represented by the Rights
Certificate held by you, the number of Ordinary Shares being subscribed for
pursuant to the Subscription Privilege and that you will guarantee the delivery
to the Rights Agent of any properly completed and executed Rights Certificate
evidencing such Rights within three (3) business days following the date of the
Notice of Guaranteed Delivery. If this procedure is followed, the properly
completed Rights Certificate evidencing the Rights being exercised, with any
signatures required to be guaranteed so guaranteed, must be received by the
Rights Agent within three (3) business days following the date of the Notice of
Guaranteed Delivery. The Notice of Guaranteed Delivery may be delivered to the
Rights Agent in the same manner as Rights Certificates at the address set forth
above, or may be transmitted to the Rights Agent by facsimile transmission
(Facsimile No. (718) 234-5001). Additional copies of the Notice of Guaranteed
Delivery may be obtained upon request from the Rights Agent at the address set
forth above, or by calling The Altman Group, Inc., the Information Agent, at
(877) 896-3194 (banks and brokers only may call (201) 806-7300).

                                       4

     If the aggregate Subscription Price paid by you is insufficient to purchase
the number of Ordinary Shares subscribed for, or if no number of Ordinary Shares
to be purchased is specified, then you will be deemed to have exercised the
Subscription Privilege to purchase Ordinary Shares to the full extent of the
payment tendered.

     If the aggregate Subscription Price paid by you exceeds the amount
necessary to purchase the number of Ordinary Shares for which you have indicated
an intention to subscribe, then any remaining amount shall be returned to you by
mail without interest or deduction as soon as practicable after the Expiration
Date and after all prorations and adjustments contemplated by the terms of the
Rights Offering have been effected.

2.   ISSUANCE OF ORDINARY SHARES.

     As soon as practicable after the Expiration Date and the valid exercise of
Rights, the Rights Agent will mail to each exercising Rights holder certificates
representing Ordinary Shares purchased pursuant to the Subscription Privilege.

3.   SALE OR TRANSFER OF RIGHTS.

     (A) SALE OF RIGHTS THROUGH A COMMERCIAL BANK OR BROKER. To sell Rights
evidenced by a Rights Certificate through your commercial bank or broker, sign
Form 2 of your Rights Certificate leaving the rest of the Form blank (your
broker will add the buyer's name later). You must have your signature on Form 2
guaranteed in Form 5 by an Eligible Institution and deliver your Rights
Certificate and the accompanying envelope to your commercial bank or broker.
Your Rights Certificate should be delivered to your commercial bank or broker in
ample time for it to be exercised. If Form 2 is completed without designating a
transferee, the Rights Agent may thereafter treat the bearer of the Rights
Certificate as the absolute owner of all of the Rights evidenced by such Rights
Certificate for all purposes, and the Rights Agent shall not be affected by any
notice to the contrary. Because your commercial bank or broker cannot issue
Rights Certificates, if you wish to sell less than all of the Rights evidenced
by a Rights Certificate, either you or your commercial bank or broker must
instruct the Rights Agent as to the action to be taken with respect to the
Rights not sold, or you or your commercial bank or broker must first have your
Rights Certificate divided into Rights Certificates of appropriate denominations
by following the instructions in Section 4 of these instructions. The Rights
Certificates evidencing the number of Rights you intend to sell can then be
transferred by your commercial bank or broker in accordance with the
instructions in this Section 3(a).

     (B) TRANSFER OF RIGHTS TO A DESIGNATED TRANSFEREE. To transfer your Rights
to a transferee other than a commercial bank or broker, you must complete Form 2
in its entirety, execute the Rights Certificate and have your signature
guaranteed in Form 5 by an Eligible Institution. A Rights Certificate that has
been properly transferred in its entirety may be exercised by a new holder
without having a new Rights Certificate issued. In order to exercise, or
otherwise take action with respect to, such a transferred Rights Certificate,
the new holder should deliver the Rights Certificate, together with payment of
the applicable Subscription Price and complete separate instructions signed by
the new holder, to the Rights Agent in ample time to permit the Rights Agent to
take the desired action. Because only the Rights Agent can issue Rights
Certificates, if you wish to transfer less than all of the Rights evidenced by
your Rights Certificate to a designated transferee, you must instruct the Rights
Agent as to the action to be taken with respect to the Rights not sold or
transferred, or you must divide your Rights Certificate into Rights Certificates
of appropriate smaller denominations by following the instructions in Section 4
below. The Rights Certificate evidencing the number of Rights you intend to
transfer can then be transferred by following the instructions in this Section
3(b).

     (c) Rights holders wishing to transfer a portion of their Rights (or all of
their Rights in separate portions) should allow a sufficient amount of time
prior to the Expiration Date for (i) the transfer instructions to be received
and processed by the Rights Agent, (ii) a new Rights Certificate to be issued
and transmitted to the transferee or transferees with respect to transferred
Rights and to the transferor with respect to retained Rights, if any, and (iii)
the Rights evidenced by such new Rights Certificates to be exercised or sold by
the recipients thereof. The Rights Agent will facilitate transfers of Rights
Certificates only until 5:00 p.m., New York City time, on [_____________], 2010,
the fifth business day before the Expiration Date.

     (d) Neither Tefron nor the Rights Agent shall have any liability to a
transferee or transferor of Rights if Rights Certificates or any other required
documents are not received in time for exercise or sale prior to the Expiration
Date.

                                       5

     (E) COMMISSIONS, FEES AND EXPENSES. Tefron will pay all fees charged by the
Rights Agent, other than fees associated with the sale or transfer of Rights,
and the fees charged by the Information Agent. You are responsible for paying
any other commissions, fees, taxes or other expenses incurred in connection with
the exercise of the Rights. Neither we nor the Rights Agent nor the Information
Agent will pay such expenses. Tefron has agreed to indemnify the Rights Agent
from certain liabilities that they may incur in connection with the issuance of
the Rights and the Ordinary Shares if you exercise your Rights.

4.   DIVISION OF RIGHTS CERTIFICATE INTO SMALLER DENOMINATIONS.

     To have a Rights Certificate divided into smaller denominations, send your
Rights Certificate, together with complete separate instructions (including
specification of the denominations into which you wish your Rights to be
divided) signed by you, to the Rights Agent, allowing a sufficient amount of
time for new Rights Certificates to be issued and returned so that they can be
used prior to the Expiration Date. Alternatively, you may ask a commercial bank
or broker to effect such actions on your behalf. The Rights Agent will
facilitate subdivisions of Rights Certificates only until 5:00 p.m., New York
City time, on [_____________], 2010, five business days prior to the Expiration
Date. Your signature must be guaranteed in Form 5 by an Eligible Institution if
any of the new Rights Certificates are to be issued in a name other than that in
which the old Rights Certificate was issued. As a result of delays in the mail,
the time of the transmittal, the necessary processing time and other factors,
you or your transferee may not receive such new Rights Certificates in time to
enable the Rights holder to complete a sale or exercise by the Expiration Date.
Neither Tefron nor the Rights Agent will be liable to either a transferor or
transferee for any such delays.

5.   EXECUTION.

     (A) EXECUTION BY REGISTERED HOLDER. The signature on the Rights Certificate
must correspond with the name of the registered holder exactly as it appears on
the face of the Rights Certificate without any alteration or change whatsoever.
Persons who sign the Rights Certificate in a representative or other fiduciary
capacity must indicate their capacity when signing and, unless waived by the
Rights Agent in its sole and absolute discretion, must present to the Rights
Agent satisfactory evidence of their authority to so act.

     (B) EXECUTION BY PERSON OTHER THAN REGISTERED HOLDER. If the Rights
Certificate is executed by a person other than the holder named on the face of
the Rights Certificate, proper evidence of authority of the person executing the
Rights Certificate must accompany the same unless the Rights Agent, in its
discretion, dispenses with proof of authority.

     (C) SIGNATURE GUARANTEES. Your signature must be guaranteed by an Eligible
Institution.

6.   METHOD OF DELIVERY.

     The method of delivery of Rights Certificates and payment of the
Subscription Price to the Rights Agent will be at the election and risk of the
Rights holder. If sent by mail, it is recommended that such certificates and
payments be sent by overnight courier or by registered mail, properly insured,
with return receipt requested, and that a sufficient number of days be allowed
to ensure delivery to the Rights Agent and the clearance of payment prior to
5:00 p.m., New York City time, on the Expiration Date.

7.   SPECIAL PROVISIONS RELATING TO THE DELIVERY OF RIGHTS THROUGH THE
     DEPOSITORY TRUST COMPANY.

     In the case of Rights that are held of record through the Depository Trust
Company (the "Book-Entry Transfer Facility"), exercises of the Subscription
Privilege may be effected by instructing the Book-Entry Transfer Facility to
transfer Rights from the Book-Entry Transfer Facility account of such holder to
the Book-Entry Transfer Facility account of the Rights Agent, together with
certification as to the aggregate number of Rights exercised and the number of
Ordinary Shares thereby subscribed for pursuant to the Subscription Privilege by
each beneficial owner of Rights on whose behalf such nominee is acting, and
payment of your Subscription Price for each Ordinary Share subscribed for
pursuant to the Subscription Privilege.

                                       6

                                                                       EXHIBIT A

                      FORM OF NOTICE OF GUARANTEED DELIVERY
                                       FOR
                        SUBSCRIPTION RIGHTS CERTIFICATES
                                    ISSUED BY
                                   TEFRON LTD.

     This form, or one substantially equivalent to this form, must be used to
exercise the transferable subscription rights (the "Rights") pursuant to the
rights offering (the "Rights Offering"), as described in the prospectus dated
______ __, 2010 (the "Prospectus") of Tefron Ltd., an Israeli company,
("Tefron"), if a holder of Rights cannot deliver the certificate(s) evidencing
the Rights (the "Rights Certificate(s)"), to the Rights Agent listed below (the
"Rights Agent") at or prior to 5:00 p.m., New York City time, on _____ ___,
2010, unless such time is extended by Tefron as described in the Prospectus (as
it may be extended, the "Expiration Date"). Such form must be delivered by hand
or sent by telegram, facsimile transmission, first class mail or overnight
courier to the Rights Agent, and must be received by the Rights Agent on or
prior to the Expiration Date. See "The Rights Offering -- Notice of Guaranteed
Delivery" in the Prospectus.

     Payment of the subscription price of $3.8 per share (the "Subscription
Price") for each ordinary share, par value NIS 10.0 per share ("Ordinary
Shares") subscribed for upon exercise of such Rights must be received by the
Rights Agent in the manner specified in the Prospectus at or prior to 5:00 p.m.,
New York City time, on the Expiration Date even if the Rights Certificate(s)
evidencing such Rights is (are) being delivered pursuant to the guaranteed
delivery procedures thereof. See "The Rights Offering -- Notice of Guaranteed
Delivery" in the Prospectus.

           IF DELIVERING BY MAIL:                  IF DELIVERING BY HAND OR COURIER:

American Stock Transfer & Trust Company, LLC  American Stock Transfer & Trust Company, LLC
              Operations Center                            Operations Center
       Attn: Reorganization Department              Attn: Reorganization Department
              6201 15th Avenue                               59 Maiden Lane
          Brooklyn, New York 11219                      New York, New York 10038

                            BY FACSIMILE TRANSMISSION
                                 (718) 234-5001

                       TELEPHONE NUMBER FOR CONFIRMATION:
                                 (877) 248-6417
                                 (718) 921-8317

                        Telephone Number for Information:
                             The Altman Group, Inc.
                            Toll Free: (877) 896-3194

   DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR
 TRANSMISSION OF THIS INSTRUMENT VIA FACSIMILE OTHER THAN AS SET FORTH ABOVE DOES
                         NOT CONSTITUTE A VALID DELIVERY

                                       A-1

Ladies and Gentlemen:

     The undersigned hereby represents that the undersigned is the holder of
Rights Certificate(s) representing Right(s) and that such Rights Certificate(s)
cannot be delivered to the Rights Agent prior to the Expiration Date. Upon the
terms and subject to the conditions set forth in the Prospectus, receipt of
which is hereby acknowledged, the undersigned hereby elects to exercise
his/her/its subscription privilege to subscribe for ______________ ordinary
share(s) underlying the Rights represented by such Rights Certificate(s).

     The undersigned understands that payment of the Subscription Price for each
ordinary share subscribed for pursuant to his/her/its subscription privilege
must be received by the Rights Agent at or prior to the Expiration Date and
represents that such payment, in the aggregate amount of $______________ either
(check appropriate box):

[_]  is being delivered to the Rights Agent herewith

     or

[_]  has been delivered separately to the Rights Agent in the manner set forth
     below (check appropriate box and complete information relating thereto):

[_]  Wire transfer of funds

     Name of transferor institution:________________________________________

     _______________________________________________________________________

     Date of transfer:______________________________________________________

     _______________________________________________________________________

     Confirmation number (if available):____________________________________

     _______________________________________________________________________

[_]  Certified check

[_]  Bank draft (cashier's check)

     Name of maker: ________________________________________________________

     _______________________________________________________________________

     Date of check or draft: _______________________________________________

     _______________________________________________________________________

                                       A-2

     Check or draft: _______________________________________________________

     _______________________________________________________________________

     Bank on which check is drawn or issuer: _______________________________

     _______________________________________________________________________

     Signature(s)________________________    Address________________________

     Names__________________________________________________________________
                                              (Please type or print)

     Address________________________________________________________________

     Area Code and Tel. No.(s) _____________________________________________

     Rights Certificate No(s) (if available)________________________________

                                       A-3

                              GUARANTEE OF DELIVERY
           (NOT TO BE USED FOR RIGHTS CERTIFICATE SIGNATURE GUARANTEE)

     The undersigned, an "Eligible Guarantor Institution," as such term is
defined in Rule 17Ad-15 of the Securities Exchange Act of 1934, as amended,
guarantees that the undersigned will deliver to the Rights Agent the
certificates representing the Rights being exercised hereby, with any required
signature guarantee and any other required documents, all within three (3)
business days after the date hereof.

Dated: ____________________________________________________________________

Authorized Signature:______________________________________________________

Name of Firm:______________________________________________________________

Address:___________________________________________________________________

___________________________________________________________________________

Area Code and Telephone Number:____________________________________________

     The institution that completes this form must communicate the guarantee to
the Rights Agent and must deliver the Rights Certificate(s) to the Rights Agent
within the time period shown in this prospectus. Failure to do so could result
in a financial loss to such institution.

                                       A-4

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