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Suspension of Trading of the Securities of The Israel Land Development Company.

TEL AVIV Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Israel--(BUSINESS WIRE)--Oct. 13, 1999--

The following is a translation from Hebrew of a letter which was

sent to The Securities Authority, The Tel Aviv Stock Exchange Tel Aviv Stock Exchange

Israel's only stock exchange.

Ltd. and the Registrar of Companies The introduction to this article provides insufficient context for those unfamiliar with the subject matter.
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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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , 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.

Respectfully submitted

Irit Oren The Company Secretary
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Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Oct 13, 1999
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