Optibase Ltd. Announces Dismissal of Vsoft Ltd. Lawsuit

Optibase Ltd. OBAS today announced the dismissal by the Tel-Aviv District Court of the lawsuit filed against the Company by Vsoft Ltd., or Vsoft, a company that is undergoing liquidation proceedings. In its lawsuit, Vsoft has claimed that during 2002 the Company negotiated with Vsoft in bad faith regarding a potential purchase of its share capital, which led to Vsoft's entering into bankruptcy proceedings. Such claims were rejected by the Tel-Aviv District Court. In addition to the dismissal of the lawsuit, the Tel-Aviv District Court awarded the Company with expenses in the sum of NIS 150,000.