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Strategies & Market Trends : Ampal-American Israel Corporation (NASD: AMPL, NASD:AMPLP) -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Macnamara who wrote (55)	3/31/2000 9:00:00 AM
From: caly	Read Replies (1) \| Respond to of 77

This increased communication is appreciated AIS.... Friday March 31, 7:59 am Eastern Time Company Press Release Ampal Announces Significant Developments in XACCT Technologies -1997- Ltd. NEW YORK--(BUSINESS WIRE)--March 31, 2000--Ampal-American Israel Corporation (AMEX:AIS - news) announced today that its 15%-owned investee company, XACCT Technologies (1997) Ltd., has filed a registration statement on form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its ordinary shares. All shares will be offered by XACCT. Credit Suisse First Boston will act as lead manager and Chase H&Q and U.S. Bancorp Piper Jaffray will act as co-managers of the offering. XACCT develops and markets intelligent business infrastructure software for telecommunications carriers, Internet service providers, enterprise network operators and cable network operators. XACCT's intelligent software platforms enable service providers to design and execute innovative revenue-generating services and programs. Prior to XACCT's filing of its registration statement, Sun Microsystems, Inc. made a strategic investment in XACCT. In addition, the two companies plan to initiate joint sales and marketing activities. Ampal and its subsidiaries primarily acquire interests in businesses located in the State of Israel or that are Israel-related. Ampal's primary investment focus is the growing high-technology and communications sector. Ampal has diversified interests in the following sectors: high-technology and communications, real estate, capital markets, leisure-time, energy distribution, and industry. Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Further information regarding risks and uncertainties are detailed from time to time in the Company's filings with the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: Ampal-American Israel Corporation Company Contact: Eli S. Goldberg Vice President-Legal and Secretary (212) 782-2100 or Investor Contacts: Donna Stein/Jill Meleski Morgen-Walke Associates (212) 850-5600 Press Contact: Gregory Tiberend Morgen-Walke Associates (212) 850-5600