ILDC shareholders elect new director at extraordinary meeting.

TEL AVIV, Israel--(BUSINESS WIRE)--Feb. 6, 1996--At an meeting of shareholders held here today, Elyahu Cohen was elected a director of Israel Land Development Company ("ILDC") (NASDAQ/NMS: ILDCY) . He will serve a term of five years, which is the time specified in the Company's Ordinance for an independent director.

Mr. Cohen is replacing Elyahu Navi, whose five-year term as independent director is expiring in February, 1996.

Mr. Cohen formerly served the office of the Prime Minister of Israel in the intelligence area. He owns and manages a private import/export company. Mr. Cohen serves on the council of the Organization for Retired Personnel in the Prime Minister's Office in Israel, and two non-profit organizations involved with the heritage, culture and dissemination of information on Iraqi Jews.

THE ISRAEL LAND DEVELOPMENT COMPANY LTD., (ILDC) founded in 1909, maintains a diversified portfolio of business enterprises including the publishing of a major Israeli newspaper, other forms of commercial media, insurance, real estate development, hotels and income properties.

CONTACTS: Robert Ferris ILDC: Ron Weissberg

Ruder Finn, Inc. Chief Financial Officer

Tel: [phone] Tel: [phone]

or

Steven Curtis

Ruder Finn

Tel: [phone]