Koor Industries Ltd.

(“The Company”)

May 5, 2008

Announcement of new date for the Extraordinary General Meeting of the holders of the Company’s ordinary shares

Further to the Company’s announcement dated April 15, 2008, in respect of an Extraordinary General Meeting of the holders of the Company’s ordinary shares, which should have taken place on Tuesday, May 6, 2008 at 2pm concerning the exclusion of foreign holders from rights offering of securities, the Company announces that the date of this meeting has been postponed and shall take place on Tuesday, May 13, 2008 at 2pm at the Company’s offices, Azrieli Center 3, Triangular Building (Floor 41), Tel-Aviv. If the meeting is postponed, it will take place on Tuesday, May 20, 2008 at the same time and place.

The Agenda of the General Meeting, the majority required to approve a resolution and the determining date for entitlement of shareholders to vote, have not changed.