RNS Number:3147V
Amiad Filtration Systems Ltd
23 April 2007


23 April 2007
For Immediate Release

                         Amiad Filtration Systems Ltd.
                           ("Amiad" or the "Company")

                          Waivers and Grant of Options

On 19 April 2007, following a request made by the Company, three of its
directors, Yosef Katz, Abraham Heifetz and Itamar Eder, and the V.P. Sales &
Marketing, Arik Dayan, gave written notice to the Company of their waiver, with
immediate effect, of their respective rights to options granted to them by the
Company under the Amiad 2005 Share Option Plan (the "Plan") over the following
number of ordinary shares, none of which had not vested at that date:

   * Yosef Katz - 13,124 shares

   * Abraham Heifetz - 8.751 shares

   * Itamar Eder - 4,375 shares

   * Arik Dayan - 4,375 shares


The Company had requested the waiver of these options in order that the
aggregate number of shares under options granted to employees/directors of the
Company (taking into consideration also the waiver of options by Kibbutz Amiad
and the grant of new options to Mr. Rokah, as provided below) does not exceed 3%
of the total issued share capital of the Company on a fully diluted basis. None
of the optionholders received any consideration from the Company for agreeing to
waive his options over the above shares.

The dates of vesting of those shares remaining under option have not been
altered.
Following the above waiver of options over shares, the directors are interested,
either directly or indirectly, in the following number of shares in the Company:

            Number of Ordinary  Number of Ordinary Shares     % of Issued Share
            Shares              under Option                  Capital
Yosef              0                       218,886               1.125
Katz

Abraham
Heifetz       11,000                       145,923               0.807

Itamar             0                        72,961               0.375
Eder

At the same board meeting, the Company received written notice from Kibbutz
Amiad Agricultural Cooperative Association ("Kibbutz Amiad") of its waiver, with
immediate effect, of its right to options granted to it by the Company over
77,336 ordinary shares. The options had not vested at the date of the notice.

As a result of the above waiver of options by Kibbutz Amiad, each of Kibbutz
Amiad and A.M.SI Investments (1997) Ltd., a company fully controlled by Kibbutz
Amiad, ("AMS") are interested, either directly or indirectly, in the following
number of shares in the Company:

            Number of Ordinary  Number of Ordinary Shares    % of Issued Share
            Shares              under Option                 Capital
Kibbutz         10,200                            0               0.052
Amiad

AMS         10,152,371                            0              52.18

At the same meeting, the board of directors resolved (conditional upon obtaining
shareholder approval at the Company's Annual General Meeting to be held later
this year) to grant options over 72,961 ordinary shares under the Plan to 
Mr Joseph Rokah, a director of the Company, at an exercise price of US$1.532 per
Ordinary Share (being the same price as the exercise price for the options
previously granted to Kibbutz Amiad and all other option holders), such shares
to vest as follows:
       Vesting Date        Number of Ordinary Shares
       11 August 2007          36,480
       11 August 2008          18,240
       11 August 2009          18,241

On 19 April 2007, the Company was notified by Mr Rokah that, following the above
conditional grant of options over shares, he is interested, either directly or
indirectly, in the following number of shares in the Company:

Number of Ordinary     Number of Ordinary Shares       % of Issued Share
Shares                 under Option                    Capital
5,000                  72,961                          0.401

Enquiries

Amiad Filtration Systems Ltd.                          +972 4 690 9500
Yossi Katz, Chief Executive Officer
Itamar Eder, Chief Financial Officer

Corfin Communications                                  +44 20 7929 8989
Harry Chathli, Neil Thapar




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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