Thank You Letters to Magbit

Magbit Foundation                                                                                                April 2008

433 North Camden Drive 4th Floor

Beverly Hills, CA. 90210

U.S.A.

Dear Members of the Magbit Foundation:

As Israel gears up to celebrate 60 years of independence it is especially fitting for me to convey my sincere appreciation to the Magbit family for its solidarity and ongoing support of Israel through the "The Magbit Foundation of Greater Los Angeles Loan - Scholarship Program" for students at the University of Haifa.

Thanks to the Magbit loans, our students are provided an opportunity to achieve their dream of an academic degree despite socioeconomic challenges they may face. The loan arrangement is one that supports our students during the difficult years and gives them peace of mind while they study. Students receiving the loans appreciate the spirit behind Magbit's support and gain self esteem and confidence once they repay this kindness upon completion of their degrees.

The University of Haifa salutes the Magbit Foundation for the ongoing support of the University of Haifa and welcomes members of the Foundation to visit our campus during the 60th year of Israel's independence.

Sincerely,

Professor Aaron Ben-Ze'ev

President

Cc. Prof. Ada Spitzer, Vice President of External Affairs and Resource Development