Arel Communications and Software Ltd. Completes Spin-Off of Arelnet.Business Editors YAVNE, Israel--(BUSINESS WIRE)--June 7, 2000 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), announced today that it has completed the spin-off of its holdings in Arelnet (Tel Aviv: ARLN). Pursuant to the spin-off, holders of ordinary shares of Arel will receive an aggregate of 2,900,000 ordinary shares of Arelnet. Each holder of Arel shares will receive 0.30733 shares of Arelnet. In connection with the spin-off, Arelnet consummated an underwritten initial public offering on the Tel Aviv Stock Exchange Tel Aviv Stock Exchange Israel's only stock exchange. with gross proceeds to Arelnet of $4 million at an initial price per share of $4.02. About Arel Communications and Software Arel Communications and Software, Ltd., Yavne, Israel, and its Atlanta-based U.S. subsidiary, Arel Communications and Software, Inc., market the IDEAL family of interactive distance learning products including its new PC-based Spotlight application. The Company's Arelnet Ltd. subsidiary designs, develops, produces and markets value-added communication and IP telephony products for telephone carriers, Internet Service Providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISPs) and other network operators worldwide. This release, and prior releases, are available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide website at www.kcsa.com. |
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