Extension of final date for ChemChina Transaction

Israel Securities Authority Tel Aviv Stock Exchange Ltd.

By magnetic communication By magnetic communication

Gentlemen:

Re: Extension of final date for ChemChina Transaction

Further to the Reports of Makhteskhim Agan Industries Ltd. ("the Company"), pertaining to the Merger Agreement dated January 8, 2011 between a subsidiary of China National Agrochemical Corporation, Koor Industries Ltd. and the Company ("the Agreement"), and further to the Company's Immediate Report dated July 2, 2011 (Reference No. 2011-01-199371), the Company is honored to report as follows:

Due to the timetable related to the processes necessary for obtaining approval from the Anti-Trust Authorities of the European Union for execution of the Transaction, and noting the summer vacation customary in Europe, the parties have agreed on an extension of the final date for the closing of the Transaction until October 31, 2011 , when after this date, each party is allowed to cancel the Agreement.

Respectfully,

Makhteshim-Agan Industries Ltd.

By: Attorney Michal Arlosoroff, Legal Counsel and Corporate Secretary

1 Without a change in the agreed terms regarding a further extension under certain circumstances of the issuance of equity by the Company, as provided in the Transaction Report attached to the Company's Immediate Report dated July 2, 2011 (Reference No. 2011-01-199371).