Alon Group and Bronfman Fisher Group - to Continue Their Strategic Partnership ROSH HAAYIN, Israel, September 22 /PRNewswire-FirstCall/ -- Further to the announcement of September 2, 2004, regarding the offer of Alon Israel Oil Company Ltd. ("Alon") to acquire from Bronfman Fisher Investments Ltd. ("Bronfman Fisher"), Bronfman Fisher's holdings in Bronfman-Alon Ltd. ("Bronfman-Alon") and the discussions regarding that offer, Blue Square has been informed today, by Bronfman-Alon, that Alon and Bronfman Fisher agreed to continue their strategic partnership holdings in Blue Square and to further enhance it to other fields. Bronfman Fisher and Alon each hold a 50% interest in Bronfman-Alon, which in turn holds a controlling interest (approximately 77.35%) in Blue Square. Blue Square-Israel Ltd is a leading retailer in Israel. A pioneer of modern food retailing, in the region. Blue Square currently operates 165 supermarkets under different formats, each offering varying levels of services and prices. For more information, please refer to the Blue Square-Israel Ltd. website at http://www.coop.co.il/ . Forward Looking Statements The statements contained in this release, except for historical facts, which are forward-looking with respect to plans, projections, or future performance of the Company, involve certain risks and uncertainties. Potential risks and uncertainties include, but are not limited to, risk of market acceptance, the effect of economic conditions, the impact of competitive pricing, supply constrains, the effect of the Company's accounting policies, as well as certain other risks and uncertainties which are detailed in the Company's filings with the Securities and Exchange Commission, particularly the Annual Report on Form 20-F for the year ended December 31, 2003. Contact: Blue Square-Israel Ltd. Iris Penso General Counsel & Corporate Secretary Telephone: +972-3-9282670 Fax: +972-3-9282498 Email: DATASOURCE: Blue Square-Israel Ltd CONTACT: Contact: Blue Square-Israel Ltd., Iris Penso, General Counsel & Corporate Secretary, Telephone: +972-3-9282670, Fax: +972-3-9282498, Email:

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