Hadera Paper Ltd. Completes Carmel Transaction

Hadera, Israel, 25 August 2008 -- /PRNewswire-FirstCall/ -- Hadera Paper Ltd. (AMEX:AIP) [AIPM] announced today that following the company's previous announcements, regarding the signing of an agreement for the acquisition of holdings of Carmel Containers Systems Ltd. (an affiliated company) held by Robert Kraft and by a number of additional shareholders in Carmel, the company announces that the transaction was completed. As of the completion of the transaction, the company holds approximately 89.3% of Carmel's shares.