Jerusalem, 4 January 1998

ISRAELI FIRMS WHICH RAISED CAPITAL ON WALL STREET IN 1997

(Communicated by GPO Economics Desk)

Following is a list compiled by Globes (31.12.97, pg. 36) which lists Israeli concerns that raised capital on theNew York capital markets during 1997.

Israeli firms raising capital on Wall Street this year also reached a sum of more than $1 billion, as they did in 1996. However, 70% of this total went to only 8 firms (out of 25 which offered shares during the year).

 DATE       COMPANY                  AMOUNT ($MIL) 22.01.97   Eltek                     $ 7.5 30.01.97   Genesis                   $ 10 31.01.97   Crystal                   $ 25.9 07.02.97   Magal (*)                 $ 11 06.05.97   Checkpoint (*)            $ 70.4 12.05.97   Gilat                     $ 75 (convertible bonds) 19.05.97   Teledata (*)              $ 82.5 20.05.97   Wilifood                  $ 5.3 20.05.97   Mer Telemanagement        $ 7.2 11.06.97   Optisystems               $ 15 17.06.97   Orbit/FR                  $ 16.5 16.07.97   Nice (*)                  $ 105 22.07.97   Crystal (*)               $ 32.4 22.07.97   RIT                       $18.4 29.07.97   Galileo                   $ 58 12.08.97   Tecnomatix                $ 97.75 (convertible bonds) 04.09.97   ESC                       $ 115 (convertible bonds) 23.09.97   Tefron                    $ 102 24.09.97   Elbit Systems             $ 41.75 24.09.97   Radcom                    $ 21.9 25.09.97   ACS Electronics           $ 6 01.10.97   Supersol                  $ 95.9 01.10.97   Engel Development         $ 32.4 05.12.97   Gilat Communications      $ 21.25  TOTAL                               $ 1.074 BILLION  (*)  denotes secondary offering