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FDAnews Device Daily Bulletin

QRAY RAISES NIS 470,000 AT NIS 23M COMPANY VALUE

March 21, 2006

Shladot Metal Works Ltd. is transferring all its medical devices business to a subsidiary called Qray. Zvi Peer as CEO has been appointed CEO. Peer previously managed Fulcrum SP Ltd., Bio Group Technologies Ltd., and Romtech Electronics Ltd. (now Matrix IT Ltd). After Qray became a fully owned subsidiary, it then raised NIS 470,000 from a private investor, at a company value of NIS 23 million. Globes Online (http://www.globes.co.il/serveen/globes/docview.asp?did=1000073078&fid=942)