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ISRAEL BONDS SALES REACH RECORD $400 MILLION

 ISRAEL BONDS SALES REACH RECORD $400 MILLION
 NEW YORK, May 20 /PRNewswire/ -- Worldwide sale of securities issued


by the Israel Bonds organization have reached record levels, with investments to date this year exceeding $400 million, today announced Israel Bonds President and CEO Ambassador Meir Rosenne.
 These results represent a growth of 15.9 percent over a comparable period in 1991, when a then-record $352 million in securities was sold. Israel Bonds total sales in 1991 reached an unprecedented $990 million.
 National Campaign Chairman Michael Siegal attributed the increase to a heightened perception of Israel Bonds as an attractive investment. "While last year's record sales were motivated in part by concern for Israel's security during the Persian Gulf War, our 1992 sales figures reflect an understanding that Israel Bonds are an appealing investment in today's market," he said.
 The allure of the Israel Bonds portfolio was cited by Chairman of the Board and International Campaign Chairman David B. Hermelin, who singled out the popular Variable Rate Issue Bond (VRI). "The VRI has a minimum annual return of 7.50 percent that is adjusted twice-yearly to keep pace with increases in the prime rate above this minimum 7.50 percent. This feature has lead the VRI to gain wide acceptance with many investors," said Hermelin.
 Moreover, said Hermelin, the rise in sales has provided Israel with vitally-needed capital to assist in the absorption of hundreds of thousands of Jews from the former Soviet Union and elsewhere. Since 1990, Israel's Ministry of Finance has channeled all Israel Bonds proceeds for immigrant absorption.
 The importance of bond capital to Israel's economy was noted by Siegal, who stressed, "The loss of U.S.-backed loan guarantees has underscored the role of Israel Bonds as a dependable source of funding for housing and jobs for new immigrants in Israel. We will continue to focus our efforts on realizing record sales in order to provide Israel with the financial resources it needs to succeed in this historic humanitarian endeavor."
 Siegal called the outlook for maintaining the current pace excellent, saying that projections indicate the most successful May sales figures in the 41-year history of Israel Bonds.
 State of Israel Bonds is an international securities organization offering interest-bearing instruments issued by the government of Israel. Since its inception in 1951, State of Israel Bonds has mobilized more than $12 billion in investment capital for the development of every aspect of Israel's economy, including agriculture, commerce and industry. Now, with hundreds of thousands of Jews arriving from the former Soviet Union, bond proceeds are being utilized to provide jobs and homes for these, Ethiopian and other immigrants.
 -0- 5/20/92
 /CONTACT: James F. Perlmutter of State of Israel Bonds, 212-677-9650/ CO: State of Israel Bonds ST: New York IN: SU:


SM-AH -- NY055 -- 2301 05/20/92 12:58 EDT
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Publication:PR Newswire
Date:May 20, 1992
Words:471
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