G Willi Food International News

G. Willi-Food Reaches Settlement Agreement Regarding Class Action Lawsuits

YAVNE, Israel, July 3 PRNewswire-FirstCall — G. Willi-Food International Ltd. (NASDAQ: WILC) (the "Company" or "Willi Food"), one of Israel's largest food importers and a single-source supplier of one of the world's most extensive range of quality kosher food products, today announced that it had signed a Settlement Agreement pertaining to the three lawsuits and the demand to approve them as class actions referred to in the Company's press releases from December 11, 2006 and February 25, 2007, which were filed against the Company by three plaintiffs (the "Plaintiffs") regarding the matter of reduced contents of the Company's tuna containers (the "Settlement Agreement").

Under the Settlement Agreement, the Company has denied all wrongdoing and will carry out a special discount sale (the "Sale") of 480,000 cans of tuna that will all contain roughly an additional one-third of an ounce of tuna, or approximately 7% more tuna, than usually marketed. These larger cans of tuna will have the same price as the usual cans of tuna, but will be labeled as discounted. The Company will be entitled to advertise the sale at its own discretion.

According to the Settlement Agreement, the Company agreed to pay the Plaintiff's and their attorneys approximately NIS 50,000 (approximately USD 15,000) for their legal costs.

The Settlement Agreement is subject to the approval of the District Court of Tel-Aviv.

The remaining two lawsuits and the demand to approve them as class actions filed against the Company by two plaintiffs and described in the Company's press release from January 2, 2007 - have been dismissed.

About G. Willi-Food International, Ltd.

G. Willi-Food International Ltd. is one of Israel's largest food importers and a single-source supplier of one of the world's most extensive ranges of quality kosher food products. It currently imports, markets and distributes more than 600 food products manufactured by some 120 top-tier suppliers throughout the world to more than 2,000 customers. Willi Food excels in identifying changing tastes in its markets and sourcing high-quality kosher products to address them. The Company also operated several subsidiaries: Gold Frost Ltd. subsidiary develops and distributes kosher chilled and frozen dairy food products internationally; Laish Israeli subsidiary and joint venture with the Baron Family engage in the global import, export and distribution of kosher products worldwide; Shamir Salads is a leading international manufacture and distributor of pre-packaged Mediterranean foods. For more information, please visit the Company's website at http://www.willi-food.co.il.

This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding trends, demand for our products and expected revenues, operating results, and earnings. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. These risks and other factors include but are not limited to: changes affecting currency exchange rates, including the NIS/U.S. Dollar exchange rate, payment default by any of our major clients, the loss of one of more of our key personnel, changes in laws and regulations, including those relating to the food distribution industry, and inability to meet and maintain regulatory qualifications and approvals for our products, termination of arrangements with our suppliers, in particular Arla Foods, loss of one or more of our principal clients, increasing levels of competition in Israel and other markets in which we do business, changes in economic conditions in Israel, including in particular economic conditions in the Company's core markets, our inability to accurately predict consumption of our products and risks associated with product liability claims. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in the Company's Annual Report on Form 20-F for the year ended December 31, 2006, filed with the Securities and Exchange Commission. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. We do not assume any obligation to update the forward-looking information contained in this press release.

Company Contact: G. Willi Food International Ltd., Ety Sabach, CFO, +972-8-932-1000, ety@willi-food.co.il . IR Contact: The Global Consulting Group, Christopher Chu, +1-646-284-9426, cchu@hfgcg.com .

SOURCE G Willi Food International

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