HAIFA, Israel, November 18 /PRNewswire/ -- In the news release, Oil Refineries Changes Time of Earnings Call to Discuss Third Quarter 2008 Results issued on 18 Nov 2008 16:07 GMT, by Oil Refineries Ltd TASE:ORL over PR Newswire, we are advised by a representative of the company that the company conference call is an hour later than originally issued. Complete, corrected release follows:

- Conference Call to be Held on November 24, 2008 at 10:00am ET

Oil Refineries Ltd. (TASE: ORL.TA) (the Company), Israel's largest oil refiner, announced today that it will be hosting a conference call to discuss its financial results for the third quarter and nine months 2008 at 10:00 am ET (3:00pm UK, 5:00pm Israel) on Monday, November 24, 2008, and not as previously announced.

To participate, please call one of the following teleconferencing numbers. Please begin placing your calls at least 10 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

US Dial-in Numbers: 1-888-668-9141 UK Dial-in Number: 0-800-032-3367 Israel Dial-in Number: 03-918-06587 International Dial-in Number: +972-3-918-0687 at: 10:00am Eastern Time, 7:00am Pacific Time; 3:00pm UK, 5:00pm Israel

A replay of the call will be available, after the call, on the Company's website at http://www.orl.co.il.

Oil Refineries' third quarter and nine months 2008 earnings press release and financial statements are scheduled to be released on November 24, 2008 prior to the call. The full financial statements will be available for download from the Company's website - http://www.orl.co.il, under the investor relations section.

About Oil Refineries Ltd.

Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, operates Israel's largest oil refinery. ORL operates sophisticated and state-of-the-art industrial facilities with refining capacity of 9 million tons of crude oil per year, with a Nelson complexity index of 7.4, providing a variety of quality products used in industrial operation, transportation, private consumption, agriculture and infrastructure. The company is also active in the area of Aromatics and Polymers through wholly-owned Gadiv Petrochemical Industries Ltd. and 50% owned Carmel Olefins Ltd. ORL is traded on the Tel Aviv Stock Exchange under the ticker ORL. For additional information please visit the Company's website: http://www.orl.co.il

Contacts Company Contact: Rami Sasson EVP Business Development Capital Markets Tel. +972-4-878-8114 contactIREn@orl.co.il Investor Relations Contact: Ehud Helft \ Fiona Darmon GK Investor Relations Tel. +1-646-797-2868 \ +972-54-566-3221 info@gkir.com

Contacts: Company Contact: Rami Sasson EVP, Business Development Capital Markets, Tel. +972-4-878-8114, contactIREn@orl.co.il; Investor Relations Contact: Ehud Helft \ Fiona Darmon, GK Investor Relations, Tel. +1-646-797-2868 \ +972-54-566-3221, info@gkir.com