Ampal Announces an Investment in Arel Communications and Software Ltd.Business Editors NEW YORK--(BUSINESS WIRE)--February 9, 2000 Ampal-American Israel Corporation (AMEX AMEX See: American Stock Exchange :AIS) announced today that on February 8, 2000, it purchased 396,000 shares of Arel Communications and Software 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 : ARLCF), representing 4.9% of the company, for approximately $6 million ($15 per share). This investment reflects Ampal's belief that the market for interactive distance learning is growing rapidly, and that Arel is well positioned to benefit from the growth in this sector. Arel's core business targets the emerging interactive distance learning (IDL (1) (Interface Definition Language) A language used to describe the interface to a routine or function. For example, objects in the CORBA distributed object environment are defined by an IDL, which describes the services performed by the object and how the data ) market, where it is positioned as the innovative technology leader. The company's ArelNet subsidiary is the leading provider of high quality Internet protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. (IP) telephony solutions, developing cutting-edge technology solutions for real-time voice and fax over IP networks and enhanced services Enhanced service is service offered over commercial carrier transmission facilities used in interstate communications, that employs computer processing applications that act on the format, content, code, protocol, or similar aspects of the subscriber's transmitted information; . Ampal and its subsidiaries primarily acquire interests in businesses located in the State of Israel or that are Israel-related. Ampal's primary investment focus is the growing high-technology and communications sectors. Ampal has diversified interests in the following sectors: high-technology and communications, real estate, capital markets, leisure-time, energy distribution, and industry. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Further information regarding risks and uncertainties are detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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