(Communicated by the Prime Minister’s Media Adviser)

Prime Minister Ehud Olmert met this afternoon (Monday), 18 September 2006, with tycoon Warren Buffett, who recently acquired ISCAR from the Wertheimer family. Buffett said that this was his company’s first investment outside the US and explained that this was the first time they had found a business that they really loved. Buffett promised that ISCAR would continue to operate in Israel and said that the last thing he wanted was to disturb ISCAR employees.

Prime Minister Olmert thanked Buffett for the major investment and for the confidence in the Israeli economy, and encouraged him to invest in additional projects in Israel.

Prime Minister Olmert praised ISCAR founder Stef Wertheimer and noted that the latter had set a precedent by establishing a project such as the Tefen Industrial Park without government involvement. “Stef is not an easy man but he is the most honest man that you will meet; mainly, he is a man with vision,” the Prime Minister told Buffett.

Minister Rafi Eitan, Israel Tax Authority Director-General Jacky Matza, Prime Minister’s Bureau officials and members of the Wertheimer family also attended the meeting.