Suspension of Trading of the Securities of The Israel Land Development Company.
The following is a translation from Hebrew of a letter which was
sent to The Securities Authority, The Tel Aviv Stock Exchange
Ltd. and the Registrar of Companies:
Per your request of Oct. 13, 1999 for our response, we hereby notify you that the matters of the Company and the business of the Company and its subsidiaries are operating as usual and are being managed by the Company's CEO, Ofer Nimrodi.
Therefore, according to our estimation, there is no justification in your decision to suspend trading on the Tel Aviv Stock Exchange because of what was published in the newspaper yesterday, and we hereby ask you to reinstate trading.
Irit Oren The Company Secretary