The Israel Land Development Company Limited Announces Annual Shareholder Meeting.

Business Editors

TEL AVIV, Israel--(BUSINESS WIRE)--Nov. 9, 2000

Israel Land Development Company Limited ("ILDC") (NASDAQ/NMS:ILDCY) today announced that the Annual General Meeting of Shareholders will be held on Tuesday, December 12, 2000 at the offices of The Israel Land Development Company Ltd. ("the Company"), at 2 Shenkar Street, Tel Aviv, Israel at 10:00 a.m.

Agenda for the Annual Meeting

1. Receipt of the financial reports of the Company for the fiscal

year ended December 31, 1999. 2. Re-election of directors whose terms have expired and the

determination of their remuneration. 3. Re-election of Kost, Forer & Gabbay as independent auditors and

the determination of their remuneration. 4. Determining that interim dividends, which have been distributed on

May 29, 1999 of NIS 100 million, and on March 23, 2000, of NIS 40

million, shall be final dividends for the fiscal year ended

December 31, 1999. 5. Renewal of Directors, Officers and Company Liability Insurance

Policy.

Management recommends approval of agenda item number 1 as received.

Management recommends a vote for the directors standing for re-election (agenda item number 2): Jackob Nimrodi, Chairman of the Board and President; Ron Weissberg, Acting CEO; Smadar Nimrodi-Rinot Vice President Special Projects; Rechaviya Vardi, retired officer, Israeli secret service; Benjamin Ze'evi, retired officer, Prime Minister's Office, Israel; Yael Nimrodi-Gilat. Directors are elected for an annual term, (agenda item number 2).

Management recommends a vote for the director's remuneration. The directors' annual fees will not be changed, and therefore will be NIS 27,880, linked to the Israeli Consumer Price Index (ICPI) beginning July 1993. The fees paid to directors for attending each meeting will be the maximum amount of money authorized to be paid to external directors according to the law for each meeting attended of the board or its committees.

Management believes it is prudent business practice to re-elect Kost, Forer & Gabbay as its independent auditors, (agenda item number 3).

Management recommends a vote in favor of agenda item number 4.

Management recommends approval of agenda item number 5 as received.

The Shareholders who are entitled to participate and vote in the Annual General Meeting are the shareholders of record at the end of trading on November 21, 2000.

If within half an hour of the time fixed for the Annual General Meeting of Shareholders a quorum is not present, the meeting shall be automatically adjourned for one week and be reconvened at the same time and place set for the above meeting, without notification of such meeting to the shareholders. If at this second meeting a quorum is not present within half an hour of the time fixed for the meeting, two shareholders who are present personally or by proxy shall constitute a quorum.

Every shareholder may vote personally or by proxy. A deed of appointment of proxy and a power of attorney or other certificate (if such exists) or a copy certified by a notary or attorney shall be deposited at the Company's offices in Israel, no less than 48 hours prior to the time fixed for the meeting or the deferred meeting at which the proxy intends to vote by virtue of such document.

The Israel Land Development Company Ltd, founded in 1909, maintains a diversified portfolio of business enterprises including the publishing of a major Hebrew language daily newspaper, other forms of commercial media, insurance, real estate development, hotels, leisure products and income properties.