ALON USA Selects the Principal Financial Group to Provide Total Retirement Plan Solutions.

DES MOINES, Iowa -- The Principal Financial Group(R), the nation's 401(k) leader and total retirement solutions innovator, announced it was selected to provide total retirement plan solutions for ALON USA. Headquartered in Dallas, ALON USA is a fully-integrated refining and marketing enterprise and controls the marketing rights to FINA gasoline throughout the Southwest. The ALON USA retirement plans include more than $30 million in transfer assets in their defined benefit and defined contribution plans. The plans serve approximately 200 employee participants in the defined contribution plan and 300 employee participants in the defined benefit plan.

"We selected The Principal for our retirement plan services because of the tremendous efficiencies gained by streamlining multiple services with one service provider," said Eric Nystrom, manager, benefits and payroll at ALON USA. "The Principal Retire Secure(SM) program was also a valuable factor in our decision, under which employees can talk one-on-one with a financial professional regarding their personal retirement planning needs. We're planning to see a significant impact on participation by using this service."

Paul A. Brown, vice president at The Principal, added, "We're proud to be associated with ALON USA because of their long-standing tradition of providing the highest quality refined products at the best customer value. They're focused on their own integrated strategies that connect their facilities and operations. Our Principal Total Retirement Suite(SM) was a strong match since it provided an integration strategy to their internal administrative processes."

The ALON USA retirement savings plans offer employees open access to a wide variety of investment options, including investment options managed by several leading investment managers including Principal Global Investors, Inc. the asset management arm of The Principal. The plan was represented by Leumi Investment Services Inc. ALON USA has long been a client of the Leumi Group.

The Principal is a nationally recognized leader in total retirement services consulting and recordkeeping serving approximately 45,000 employer plan sponsors and more than 3 million plan participants. The Principal, a recognized leader in compliance services, also will assist in providing extensive consulting and plan design expertise. Plan participants will receive the latest tools including: online account information and education through an award-winning website, The Principal Retirement Service Center(R) (www.principal.com), interactive educational and asset allocation tools, Morningstar investment information, easy-to-understand participant statements, on-site investment education and retirement planning seminars, toll-free counseling, rollover assistance, and the quarterly magazine Plan Ahead. Get Ahead(R).

About ALON USA

ALON USA, a fully-integrated refining and marketing enterprise operating in the Southwest, is a subsidiary of ALON Israel Oil Co. Ltd. ALON Israel purchased ATOFINA Petrochemicals Inc.'s downstream business, including its domestic fuels marketing business, pipelines, terminals and Big Spring, Texas refinery. Headquartered in Dallas, ALON USA controls the marketing rights to FINA gasoline throughout the Southwest. For more information about the company, visit its website, www.alonusa.com.

About Leumi Investment Services Inc.

Leumi Investment Services Inc., the brokerage subsidiary of Bank Leumi USA, offers clients access to a wide range of securities and insurance products appropriate for both individuals and businesses. Bank Leumi USA, operating in the U.S. for more than 50 years, is an FDIC-insured, full-service commercial bank that provides financial services to middle- and upper-middle market firms, international businesses, not-for-profit organizations and high net worth individuals. Bank Leumi USA is the largest subsidiary of the Leumi Group, Israel's leading banking group, founded in 1902, with $56 billion in assets.

About the Principal Financial Group

The Principal Financial Group(R) (The Principal (R))(1) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $156.0 billion in assets under management(2) and serves some 14.7 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

(1) "The Principal Financial Group(R)" and "The Principal(R)" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

(2) As of September 30, 2004.