Yorkville closes deal with Orckit Communications Ltd.

(London/New Jersey, 05/08/2010) Yorkville Advisors, LLC, the investment manager to YA Global Master SPV Ltd. has entered into a proprietary equity financing in Israel by closing a $10M Standby Equity Purchase Agreement (SEPA) with Orckit Communications Ltd. (NASDAQ: ORCT; TASE: ORCT). Orckit is a dual listed NASDAQ and Tel Aviv Stock Exchange (TASE) company that facilitates telecommunication providers' delivery of high capacity broadband residential, business and mobile services over wireline or wireless networks.

This transaction represents the 6th proprietary equity financing in Israel, the 3rd in Israel’s technology sector. Yorkville’s funds have also completed financings in the Israeli real estate and healthcare sectors.

Pioneered 9 years ago by Yorkville Advisors, a SEPA or Standby Equity Purchase Agreement offers companies a flexible and cost effective way to raise capital. The terms of the SEPA enable a company to raise discretionary funds by issuing new equity based on market price.

Yorkville completed its first Israeli deal in 2008. In 2009 and 2010, the firm continued to build new relationships with companies like Pangaea Real Estate, a respected brand in Israel, Europe and North America. The Yorkville team has established institutional and investment relationships in Israel to effect greater deal flow, and is seeing efforts pay off in 2010.

“We have seen increased Israeli market interest in our financings and have partnered with a number of growth companies listed on the Tel Aviv Stock Exchange," said Wayne Coy, Senior Vice President at Yorkville Advisors.

Shmulik Yannay, a representative of Yorkville based in Tel Aviv noted, “Israel has always been considered a prime source for unique and cutting edge companies and Yorkville provides effective capital facilities to address their needs.”