Alon Group and Bronfman Fisher Group - to Continue Their Strategic Partnership

Alon Group and Bronfman Fisher Group - to Continue Their
Strategic Partnership 


ROSH HAAYIN, Israel, September 22  /PRNewswire-FirstCall/ -- Further to the
announcement of September 2, 2004, regarding the offer of Alon Israel Oil
Company Ltd. ("Alon") to acquire from Bronfman Fisher Investments Ltd.
("Bronfman Fisher"), Bronfman Fisher's holdings in Bronfman-Alon Ltd.
("Bronfman-Alon") and the discussions regarding that offer, Blue Square has
been informed today, by Bronfman-Alon, that Alon and Bronfman Fisher agreed to
continue their strategic partnership holdings in Blue Square and to further
enhance it to other fields. Bronfman Fisher and Alon each hold a 50% interest
in Bronfman-Alon, which in turn holds a controlling interest (approximately
77.35%) in Blue Square.

Blue Square-Israel Ltd is a leading retailer in Israel. A pioneer of modern
food retailing, in the region. Blue Square currently operates 165 supermarkets
under different formats, each offering varying levels of services and prices.
For more information, please refer to the Blue Square-Israel Ltd. website at
http://www.coop.co.il/ .

Forward Looking Statements

The statements contained in this release, except for historical facts, which
are forward-looking with respect to plans, projections, or future performance
of the Company, involve certain risks and uncertainties. Potential risks and
uncertainties include, but are not limited to, risk of market acceptance, the
effect of economic conditions, the impact of competitive pricing, supply
constrains, 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 Securities and Exchange Commission, particularly the Annual Report on Form
20-F for the year ended December 31, 2003.

  Contact:
  Blue Square-Israel Ltd.
  Iris Penso
  General Counsel & Corporate Secretary
  Telephone: [phone]
  Fax: [phone]
  Email: 

DATASOURCE: Blue Square-Israel Ltd



CONTACT:  Contact: Blue Square-Israel Ltd., Iris Penso, General Counsel &

Corporate Secretary, Telephone: [phone], Fax:

[phone], Email: 

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