HAIFA, Israel, November 12 /PRNewswire/ --

- Conference Call Scheduled for August 20, 2007 at 09:00 am EST

Oil Refineries Ltd. (TASE: ORL.TA) (the "Company"), Israel's largest oil refiner, announced today that it will be releasing its third quarter and nine months 2007 financial results on Tuesday, November 20, 2007.

The Company will be hosting a conference call the same day, Tuesday, November 20, at 09:00 am EST. On the call management will review and discuss the third quarter 2007 results and will be available to answer questions.

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: 1-888-642-5032 UK Dial-in Number: 0-800-051-8913 Israel Dial-in Number: 03-918-0650 International Dial-in Number: +972-3-918-0650 at: 09:00 am Eastern Time, 06:00 am Pacific Time, 2:00 pm UK Time, 4:00 pm Israel Time

HAIFA, Israel, November 12 /PRNewswire/ --

A replay of the call will be available, after the call, on the Company's website at http//www.orl.co.il. Alternatively, for two days following the end of the call, investors will be able to dial a replay number to listen to the call. The dial-in numbers are: 1-888-295-2634 (US); 0-800-917-4256 (UK); +972-3-925-5929 (Israel and International).

Oil Refineries' third quarter and nine months 2007 earnings press release and financial statements will be available on the Company's website - http://www.orl.co.il prior to the conference call.

About Oil Refineries Ltd.

Oil Refineries Ltd. (ORL), located in the bay area of the city of Haifa, is 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: Investor Relations Contact: Jacob Hirsh CFO Ehud Helft \ Fiona Darmon Oil Refineries GK Investor Relations Tel.+972-4-878-8117 Tel.+1-646-797-2868 \ +972-54-566-3221 jhirsh@orl.co.il info@gkir.com

Contacts: Company Contact: Jacob Hirsh CFO, Oil Refineries, Tel.+972-4-878-8117, jhirsh@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