Oil Refineries Schedules First Quarter 2011 Earnings Release for May 23, 2011

HAIFA, Israel, May 16, 2011 /PRNewswire-FirstCall/ --

- Conference Call Scheduled for May 23, 2011 at 14:00 UK Time, 9:00 EST

Oil Refineries Ltd. (TASE: ORL.TA) (the "Company"), Israel's largest oil refiner, announced today that it will be releasing its financial results for the first quarter 2011 on Monday, May 23, 2011.

The Company will be hosting a conference call the same day, Monday, May 23, 2011, at 14:00 GMT (9:00 EST, 16:00 Israel time). On the call, management will review and discuss the first quarter 2011 financial results and will be available to answer questions.

To participate, please call one of the following teleconferencing numbers. Please begin placing your calls at least 10 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

    US Dial-in Numbers: 1-888-668-9141
    UK Dial-in Number: 0-800-917-5108
    Israel Dial-in Number: 03-918-0650
    International Dial-in Number: +972-3-918-0650

at: 14:00 UK Time, 9:00 ET, 6:00 PT, 16:00 Israel time. A replay of the call will be available after the call on the Company's website at http://www.orl.co.il.

The conference call will be accompanied by a presentation available for download from the Company's website, www.orl.co.il, under investor relations.

Oil Refineries' first quarter 2011 earnings press release and financial statements will be available on the Company's website - http://www.orl.co.il on May 23, 2011.

About Oil Refineries Ltd.

Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, operates Israel's largest integrated refining and petrochemical group. It is one of the leading refineries in the Eastern Mediterranean area and integrates, on-site, petrochemical businesses. ORL runs sophisticated and state-of-the-art industrial facilities with a refining capacity of 9.8 million tons of crude oil per year and a Nelson Complexity Index of 7.4, providing a variety of quality products used in industrial operation, transportation, private consumption, agriculture and infrastructure. The Company's petrochemical sector produces Polymers (through its ownership of Carmel Olefins Ltd), Aromatics (through its ownership of Gadiv Petrochemical Industries Ltd), and Lube-Oils (through its ownership of Haifa Basic Oils Ltd). The Company's shares are listed on the Tel Aviv Stock Exchange under the ticker ORL. For additional information please visit http://www.orl.co.il.

    Company Contact:
    Rony Solonicof
    Chief Economist and Head of Investor Relations
    Tel. +972-4-878-8152
    [email protected]

    Investor Relations Contact:
    Ehud Helft / Porat Saar
    CCG Israel
    Tel. (US) 1-646-233-2161 / (Int.) +972-52-776-3687
    [email protected]

SOURCE Oil Refineries Ltd

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