Release Details

Immediate Report - Distribution of Bonus Shares

January 21, 2001
Immediate Report - Distribution of Bonus Shares
January 21, 2001
The Securities Authority
22 Kanfei Nesharim St.
Jerusalem
Fax: 02-6513940

The Tel Aviv Stock Exchange
54 Ahad Ha’am St.
Tel Aviv
Fax: 03-5105379


The Registrar of Companies
P.O.B. 28178
Jerusalem
Fax: 02-6247874

Dear Sirs,
Further to the Company's Immediate Report of the 23rd of November 2000
regarding the decision of the Special General Shareholders' Meeting to
distribute bonus shares, an Immediate Report is hereby given as
follows:

After receiving approval from the Government of Israel for an
increase in the Company's authorized share capital, the Company's
Board of Directors decided, in its meeting on the 18th of January
2001, on the following dates for the distribution of bonus
shares:

- "Effective date" for the distribution of bonus shares - Tuesday,
the 13th of February 2001.

- "Ex-date" for the distribution of bonus shares - Wednesday, the
14th of February 2001.

- Allocation of bonus shares will be on Thursday, the 15th of
February 2001.


In accordance with the decision of the above mentioned Special
General Shareholders' Meeting, 1,600,000,000 bonus shares will be
distributed so that for each share of NIS 1 par value, two bonus
shares of NIS 1 par value each will be distributed.



Yours sincerely,


Shlomo Koppel
Corporate Secretary

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