AMPAL to Make Final Payment on $5,000,000 Obligation; Retires Debentures

AMPAL-American Israel Corporation will make the final payment on a $5,000,000 obligation on June 30, retiring the Series "B" debentures of the Corporation, it was announced today by Abraham Dickenstein, president, Mr. Dickenstein, prior to departing for Israel, noted that during the past 19 years AMPAL has issued debentures totaling close to $50,000,000 of which it has already repaid $39,000,000.

Israel Development Corporation, an affiliate of AMPAL, will, on July 15, pay its shareholders an interim dividend aggregating $308,000, Mr. Dickenstein said. He observed that the AMPAL group of companies, established in 1942, have paid dividends exceeding $9,000,000 in the past 10 years, compared with approximately $3,000,000 in the preceding 15 years. AMPAL and Israel Development Corporation are incorporated in New York and have investors throughout the United States.

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