Blue Square-Israel Ltd. (NYSE: BSI) today announced that the Extraordinary General Meeting of Shareholders (the “EGM”) that was held on August 24, 2000 at 7:30 a.m. (Israel time) resolved to adjourn the EGM. The adjourned meeting was scheduled for September 6, 2000 at 5:00 p.m. (Israel time) at the offices of the Company, 2 Ha’amal Street, Rosh Ha’ain, Israel.

The EGM has not discussed or made any resolutions in reference to the matters specified in the proxy statement.

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The Co-Op Blue Square Consumers’ Cooperative Society Ltd. (“Co-Op”), which holds 78.1% of the Company outstanding capital, which voted in favor of the adjournment, explained that it requires additional time in order to review and consider the matters specified in the proxy.

Any vote made by proxy to the original EGM will be valid also to the adjourned EGM.

Any holder of ordinary shares or of American Depository Receipts issued by The Bank of New York (“BONY”) of the Company, may vote in the adjourned EGM by Proxy, if the proxy is received by BONY by August 29, 2000.

Blue Square is a leading retailer in Israel. A pioneer of modern food retailing in the region. Blue Square currently operates 167 supermarkets under different formats, each offering varying levels of services and pricing. For more information, please refer to Blue Square’s website at www.coop.co.il.

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The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections, or future performance of the Company, the occurrence of which involve certain risks and uncertainties, including risk of market acceptance, the effect of economic conditions, the impact of competitive pricing, supply constraints, the effect of the Company’s accounting policies, as well as certain other risks and uncertainties which are detailed in the Company’s filings with the Security and Exchange Commission, particularly the prospect to its public offering in July, 1996.