Ampal Announces an Additional Investment in XACCT Technologies -1997- LTD. -"XACCT"-.

NEW YORK--(BUSINESS WIRE)--October 12, 1999--

Ampal-American Israel Corporation (AMEX:AIS) announced today that Ampal Industries (Israel) Ltd., a wholly owned Israeli subsidiary, invested $5 million as part of the third round financing of XACCT.

XACCT raised approximately $22 million in this round of financing at a valuation of $110 million (post-money). Subsequent to this round of financing, Ampal controls approximately 18% of XACCT on a fully diluted basis, and is the single largest shareholder of XACCT.

The other participants in this round of financing were the US venture capital fund T.C.V, Deutsche Bank AG, Nissho Iwai American Corporation, Trident Capital Management II, L.L.C., Eucalyptus Venture Management, L.L.C., Technorov Holdings (1993) Ltd., Israel Seed Partners L.P. and the founders.

XACCT which was founded in 1997 develops software solutions that enable network service providers to bill for value-added Internet protocol-based applications profitably. XACCT markets its software directly and through network systems integrators to network service providers and Fortune 1000 companies. XACCT has announced partnerships with several CCB companies.

Ampal and its subsidiaries primarily 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 the growth in Israel's high technology sector. Ampal and its subsidiaries have diversified interests in the following sectors: high technology and communications, real estate, leisure-time, energy distribution and industry.