Ampal-American Israel Corporation Announces the Successful Completion of the Offers in Israel to Purchase All Outstanding Shares and Convertible Debentures of Gadot Chemical Tankers and Terminals Ltd.

Ampal-American Israel Corporation announced that Merhav-Ampal Energy Ltd., a wholly owned subsidiary of Ampal, successfully completed the tender offers in Israel to purchase all outstanding shares of common stock and convertible debentures of Gadot Chemical Tankers and Terminals Ltd. , and now holds all of the outstanding Shares of Gadot (99.99% on a fully diluted basis) and 66.76% of the outstanding Debentures, and in consideration paid a total amount of 83,388,720 NIS ($23,489,780).

Following the completion of the tender offers, Gadot’s Shares and Debentures will cease to be traded on the Tel Aviv Stock Exchange and Gadot will no longer be a reporting issuer under Israeli law.

Yosef Maiman, Chairman, President and Chief Executive Officer of Ampal, said, “We are excited to have completed the offers and to have attained full ownership of Gadot within the Ampal family of companies. With the addition of Gadot, we have increased the diversification of our portfolio of companies. This exemplifies our business model and the growth strategy that we believe will create substantial value for Ampal and its shareholders.”

Gadot and its group of companies form Israel’s leading chemical distribution organization. Gadot ships, stores, and distributes liquid chemicals, oils, and a large variety of materials to the local industry.

Ampal and its subsidiaries acquire interests primarily in businesses located in the State of Israel or that are Israel-related. The Company is seeking opportunistic situations in a variety of industries, with a focus on energy and related sectors. The Company’s goal is to develop or acquire majority interests in businesses that are profitable and generate significant free cash flow that Ampal can control. For more information about Ampal please visit our web site at www.ampal.com.