[LOGO OF MAGNA-LAB INC.]
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▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
(▇▇▇) ▇▇▇ ▇▇▇▇
October 31, 2005
Adv. ▇▇▇▇▇▇ ▇▇▇▇▇, Receiver of
▇▇▇▇ Investments in Technologies Ltd.
4, Itamar ▇▇▇ ▇▇▇ ▇▇.
▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇
Dear Adv. Lavie:
This letter is being delivered to you pursuant to Section 4(b)(iv) of the
Stock Purchase Agreement dated as of June 2005 between ▇▇▇▇ Investments in
Technologies Ltd. (in receivership) by its Receiver, ▇▇▇▇▇▇ ▇▇▇▇▇, and the
purchaser party thereto, predecessor in interest to Magna Acquisition LLC.
For valuable consideration received by us, we hereby release ▇▇▇▇
Investments in Technologies Ltd., its Receiver and his attorneys, and its
successors and assigns, from any and all actions, causes of action, claims,
demands and suits whatsoever which we have or have ever had, or hereafter can,
shall or may have, against such persons, for, upon or by reason of any matter,
cause or thing whatsoever relating to the 30,772,729 shares of Class A common
stock of our company being sold by ▇▇▇▇ Investments in Technologies Ltd.
pursuant to the above-referenced stock purchase agreement.
Very truly yours,
MAGNA-LAB, INC.
By: /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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By: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Ph.D.
Its: Chief Executive Officer