AMPAL GROUP ANNOUNCES THREE NEW INVESTMENTS.NEW YORK--(BUSINESS WIRE)--Jan. 9, 1995--Ampal-American Israel Corporation announced today that it had made investments in a high-technology company and an investment banking firm and that two of its affiliates had invested jointly in a real estate project, all located in Israel. Ampal invested $1 million to acquire 260,416 common shares, equal to 4.1% of the equity, of M Systems Flash Disk Pioneers Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : FLSHF) and received warrants to purchase an additional 130,206 common shares at $4.61 per share until June 30, 1998. M Systems is an Israeli company engaged in the development, manufacturing and marketing of data storage media based on "flash memory," a new silicon memory chip. Ampal also invested $1.5 million and acquired 20% of Epsilon 1. (language) EPSILON - A macro language with high level features including strings and lists, developed by A.P. Ershov at Novosibirsk in 1967. EPSILON was used to implement ALGOL 68 on the M-220. Investment House Ltd. Epsilon is a well known and respected investment bank which provides portfolio management and underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. services in Israel. Finally, Ampal's 42.5%-owned affiliate, Ophir Holdings Ltd. and Ampal's 21.2%-owned affiliate, Granite granite, coarse-grained igneous rock of even texture and light color, composed chiefly of quartz and feldspars. It usually contains small quantities of mica or hornblende, and minor accessory minerals may be present. Hacarmel Investments Ltd. (TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) ) invested $6 million and $3 million, respectively, and acquired 33% and 17%, respectively, of an entity that owns a 60,000 square foot property in Tel Aviv Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest . This entity expects to construct a building on the property consisting of 225,000 square feet of office space, 22,000 square feet of commercial space and 500 parking spaces, at a total cost of approximately $30 million. Ampal and its subsidiaries acquire interests in businesses located in the State of Israel or that are Israel-related. An important objective of Ampal is to make investments in companies which take advantage of growth in Israel's domestic economy. Ampal and its subsidiaries have diversified diversified (di·verˑ·s interests in the following sectors: hotels and leisure-time, real estate, energy distribution, basic industry, high technology and communications, as well as others. CONTACT: Lawrence Lefkowitz
President
Ampal-American Israel Corp.
(212) 782-2100
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