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Technology Stocks : DSSI/DATA Systems & Software

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To: Creditman who wrote (752)	10/17/1998 9:51:00 PM
From: yosi s	of 1061

The Registrant has agreed to a settlement of its pending litigation with Sanford L. Kane, former vice president of the Company, and former chairman and chief executive officer of its Tower Semiconductor Ltd. affiliate The following from Free edgar 10 2 98 report described in Item 3 of the Registrant's Annual Report on Form 10-K for the year ended December 31, 1997. The settlement provides for the payment by the Company to Mr. Kane of $500,000 and the issuance to Mr. Kane of 50,000 shares of the Company's Common Stock. The Company had previously established an expense accrual of approximately $290,000 in connection with Mr. Kane's resignation in 1995.

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