Document:

EXHIBIT 4.2

SUMMARY OF LEASE AGREEMENT

Following are the principal terms of our lease agreement for our offices, which
was signed on June 26, 2003:

o    ADDRESS:       82 Menachem Begin Road, Tel Aviv, Israel.

o    DESCRIPTION
     OF OFFICES:    Entire 4th floor of the building, encompassing approximately
                    12,000 square feet.

o    ADDITIONS:     Parking spaces and storage space in building's basement.

o    TERM OF LEASE: Three years, commencing on September 1, 2003, with an option
                    for three more years, as described below .

o    RENTAL
     PAYMENTS:      Approximately $11,000 per month for the offices and
                    approximately an additional $5,000 for parking and storage
                    space. These amounts are linked to the Consumer's Price
                    Index.

o    OPTION:        An option to extend the lease for an additional three years,
                    until August 31, 2009, was exercised. Beginning September 1,
                    2006, the rental charges will be increased by 5%, plus any
                    increases in the Consumer's Price Index.

o    ADDITIONAL
     COSTS:         Maintenance, municipal property tax and other related
                    expenses.EXHIBIT 4.3

SUMMARY OF THE SPECIAL LINE OF CREDIT FROM THE BANK OF ISRAEL

The terms of the special line of credit that was provided to the Bank by the
Bank of Israel were determined by the Governor of the Bank of Israel and over
time they underwent changes. The present terms of the credit line are specified
in the letter of the Governor from October 30, 2005, and the principal terms are
as follows:

o    The credit line will be in effect until no later than July 31, 2008.

o    The maximum amount of the credit line will at no time exceed NIS 1.25
     billion and it will decline gradually in accordance with a forecast that
     was attached to the notice of the Governor of the Bank of Israel regarding
     extension of the line until July 31, 2008.

o    The Bank will be allowed to continue to use the credit line in order to
     meet the liquidity needs it has for fulfilling its current banking
     obligations.

o    The interest on the utilized credit will be the "Bank of Israel interest
     rate" (it is noted that before July 29, 2003 the utilized credit bore a
     higher rate of interest).

o    Any significant administrative expense that deviates from the Bank's
     ordinary course of business and has an effect on its business results will
     require the approval of the Bank of Israel.

o    Limitations were set on the Bank's volume of activity with respect to
     making and pledging deposits with banks.

In the letter of the Governor of the Bank of Israel dated October 30, 2005 it
was noted that if the Bank of Israel should see fit, and to the extent required
at its sole discretion, additional restrictions regarding the Bank's operations
in addition to those specified in the aforementioned letter will be considered,
whether or not as a result of non-conformity with the objectives of the
"Run-Off" plan.

The decision of the Ministerial Committee for Social and Economic Affairs from
October 10, 2005 provides as follows:

1)   The Government is responsible for the repayment of the credit line as from
     July 1, 2005, on the condition that the interest on the credit line until
     the end of the plan shall not exceed the Bank of Israel interest rate.

2)   If at the end of the plan there remains an unpaid balance of the line of
     credit, the Government will repay the balance to the Bank of Israel until
     July 31, 2008. The Government has noted before it that in exchange for its
     repayment of the credit balance, the collateral that was provided by the
     Bank for repayment of the credit will be assigned in its favor (the Bank
     created a floating lien in favor of the Bank of Israel in a debenture dated
     November 14, 2002, which was amended on December 29, 2005). It is our
     understanding that the Government's assuming responsibility for the
     repayment of the balance of the special line of credit does not derogate
     from our primary obligation to repay the outstanding balance to the Bank of
     Israel.

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The utilized balance of the special line of credit from the Bank of Israel (not
including interest accrued but not yet charged) as at December 31, 2005 was NIS
1,028 million, compared with NIS 1,389 million as at December 31, 2004. The
utilized balance as at December 31, 2005 is lower by NIS 77 million than the
credit line amount that was set for that date for the Bank in the updated credit
line decline forecast and by NIS 1,172 million than the original amount of the
credit line.

The Bank is of the opinion that the Bank of Israel should credit it with all the
amounts of interest in excess of the "Bank of Israel interest rate" which were
charged by the Bank of Israel from August 2002 until July 29, 2003 (the date the
Ministerial Committee for Social and Economic Affairs first approved the Bank's
"Run-Off" plan), in the total amount of NIS 72 million. Even though the Governor
of the Bank of Israel has to date refused the Bank's request on this matter, the
Bank continues to insist on receiving credit for this interest.EXHIBIT 4.4

SUMMARY OF PERPETUAL DEPOSIT AGREEMENT

     Pursuant to agreements (by way of exchange of letters) that were entered
into at various times between us and the Israeli Treasury, we deposited with the
Israeli Treasury the capital from the offerings of our preferred shares (C, CC,
CC1, D and DD). The total principal amount of perpetual deposits with the
Treasury was NIS 828.2 million, as of December 31, 2005, as compared with NIS
806.5 million, as of December 31, 2004. Pursuant to these agreements, we are
entitled, regarding the amounts so deposited, to receive dollar-interest at the
annual rate of 7.5% of the dollar value of the deposits (as of the date of their
deposit), which will be paid net to us by the Treasury, on the dates that we
will declare the payment of a dividend for the above preferred shares, in such
manner that after the payment of taxes and other charges, the net amount of
interest that we receive from the Treasury will be at the above rate of 7.5%.

     The deposit agreements do not expressly stipulate how the interest on the
perpetual deposits should be handled during periods in which the Bank is
prevented from distributing dividends on the above preferred shares, and whether
the interest will accrue and be paid when the Bank pays the accrued preferred
dividends in arrears or upon liquidation. See Note 15 to our financial
statements in Item 17 of this annual report for details on the cessation of
dividend distribution and the matter of the accrued interest on the perpetual
deposits with the Israeli Treasury.

     The principal amounts that we so deposited will be returned to us by the
Israeli Treasury only upon our liquidation or for the purpose of redemption of
preferred D and DD shares (which were offered as redeemable shares), with the
principal amounts being linked to the dollar from the date of their deposit with
the Treasury and until October 1987, and from October 1, 1987 until the date of
their repayment to us, linked to the Consumer Price Index or the dollar,
whichever is higher. The deposit agreements establish that the Treasury shall
not have a right of set-off as to amounts that we will receive regarding the
deposits thereby deposited.EXHIBIT 4.5

SUMMARY OF COMPUTER SERVICES OUTSOURCING AGREEMENT

     Pursuant to an agreement dated December 23, 2003 between us and NESS A.T.
Ltd. ("NESS"), NESS has undertaken to provide us with IT Outsourcing services,
including ongoing management and operation of our Information Systems,
maintenance and operation of hardware, computers, peripheral equipment,
communications and software infrastructure (i.e. Databases, Operations Systems,
etc.), application operation and maintenance, modification and adaptation of our
applications, information security services etc.

     The agreement is for an initial period of three years beginning from
January 1, 2004 and we recently extended it for an additional two years. We are
entitled to terminate the agreement by a prior notice of a few months. In 2005,
the cost of the service was NIS 3.3 million and in 2006 it will amount to NIS
2.4 million. In 2007 and 2008 the cost of the service for each year will amount
to NIS 2.3 million. The above amounts are linked such that half of the payments
are linked to the Israeli cost-of-living index and half to exchange rate of the
U.S. Dollar.

     During the term of the agreement, we are entitled to order from NESS
modifications to our information systems and/or development of new applications
and for such purpose, we have available to us a "bank of hours".EXHIBIT 4.6

SUMMARY OF SPECIAL COLLECTIVE AGREEMENT WITH EMPLOYEES

     On December 26, 2002, a collective agreement was signed between us, the
General Federation of Labor and our employee committee, which applies to those
of our workers to which collective agreements apply (and not to those who are
employed on personal employment contracts). The contract was for a three-year
period, and can be extended for an additional year. The contract established,
among other things: 1) the right of management to terminate the employment of
employees within the framework of the reduction of our banking services, and the
termination procedure; 2) the special benefits and payments to which an employee
is entitled if his employment is terminated, including additional severance
payments beyond those set by law and the conversion of the right to additional
severance (for employees with particular seniority and with a particular number
of years until their reaching retirement age) into early old-age retirement
rights; and 3) certain reductions to be made in the salaries of the employees
and the related benefits to which they are entitled.

     On March 14, 2005, the above parties signed a new collective agreement that
extended the term of the above agreement (dated December 26, 2002) until the
termination date of our run-off plan (including any modification or extension to
the plan, approved by the government) or until December 31, 2007, whichever is
first. This new agreement also established and clarified that employees who
under the original agreement are entitled to an early old-age pension due to the
termination of their employment, will be entitled to the pension until they
reach the age from which they will be entitled -in light of the reform which
took place in the pension field after the signing of the original agreement- to
receive a regular old-age pension from the pension fund in which they are
members, and it also established that some of the concessions to which the
employees agreed in the original agreement and which had a time limit, will
continue to apply also during the period of the new agreement.

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