ATIA Atia Grp

RNS Number:6223O
Atia Group Limited
24 February 2008

                                Atia Group Ltd.

                             Company No.: 520040486

       The Company's Securities are traded at the Tel Aviv Stock Exchange

                           Shortened name: Atia Group

                        7 Jabotinsky St.,Ramat Gan 52520

                        Tel: 03-6114997  Fax: 03-6114546

                           Email: Danny@atiagroup.com

                               www.atiagroup.com



Released: 20/02/2008

Reference: 2008-01-050448





The Israeli Securities Authority                The Tel Aviv Stock Exchange Ltd.

www.isa.gov.il                                               www.tase.co.il



                              Re: Immediate Report


          Nature of Event: The Las Vegas Project Management Agreement


The Company hereby announces that its subsidiary, Verge Living Corporation, has
engaged in an agreement with The Windsor Group LLC, a project management company
working in Las Vegas ("TWG"), according to which, TWG will provide management,
consulting, representation and supervising services in regards to the Verge
Project in Las Vegas (the "Project") during the term of the Project, including
various aspects in connection with the general contractor, the professional
advisors and the authorities, the pro-forma pricing and the ongoing financial
performance, monitoring and report scheduling information, supervising the
various tasks involved with the project and assisting with accounting functions
of the Project.


In exchange for the services provided by TWG, TWG shall be entitled to the
following amounts:

 1. Expenses reimbursement, including engineer and/or superintendent as needed
    and a part time secretary/administrative person  (at a total estimated cost
    of $12,500 per month) and office overhead reimbursement up to $20,000 per
    month;

 2. Monthly payment of $24,750;

 3. Additional compensation/bonus in the amount of $1,000,000 or 5% of EBTDA,
    whichever is greater. The bonus shall be paid as the works progresses,
    commencing upon the funding of the Project construction loan, with the
    balance to be paid in full upon the receipt of temporary certificates of
    occupancy for 85% of the units in the Project.


The term of the agreement was set to 5 years or 6 months after the date of
completion of the Project, whichever shall occur first. Without derogating from
the above, either party may terminate the Agreement without cause, by notice to
the other party thirty days in advance.


To the Company's best knowledge, there is no relation between TWG and the
Company or any of its controlling shareholders, excluding Mr. Jerald Sheffer, a
director at Emvelco Corporation, one of the controlling shareholders of the
Company, who is also a honor chairman of the board of directors of TWG, where he
holds such office without any compensation and is not a shareholder of TWG. As
reported to the Company, Mr. Sheffer had no part in the negotiation, which
resulted in this Agreement.


The date on which the Company was first notified of the event: 20/02/2008 
at 11:00.


Former names: Technoplast Industries Ltd., Kidron Industrial Holdings Ltd.


The form's structure was last updated on 14/02/2008


____________________________________________________________________


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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