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1,000 Ampal Investors, Friends Hear Report on Israel’s Economic Situation

More than a thousand investors and friends of AMPAL-American Israel Corporation and its affiliate, Israel Development Corporation, attended the annual meeting of the AMPAL group of corporations here today. The meeting featured an address by Israel’s Economic Minister, Nahum Shamir, and introduction by him of Shimon Alexandroni, who is scheduled to replace Mr. Shamir this year upon the conclusion of the latter’s tour of duty.

Abraham Dickenstein, president-founder of AMPAL, and Ralph Cohen, resident vice-president in Israel, reported on the economic situation and prospects of Israel following the Six-Day War. Mr. Dickenstein returned this week after four months in Israel, during which he conducted negotiations for substantial new investments and loans. The AMPAL group today has over $53 million committed in about 70 separate Israeli enterprises.