AMIDEX News

Elron Joins the AMIDEX35 Index


TransNations Investments, LLC, April 13, 2000 NEW YORK, April 13, 2000 --- TransNations Investments, LLC (TNI) announced today revisions to its AMIDEX35ä Index, the bi-national equity benchmark for Israeli stocks. Dead Sea Works (DSEA), one of the world’s major producers of potash and magnesium flakes, was acquired by Israel Chemicals (CHIM), a diversified manufacturer of chemicals and fertilizers, and was delisted from trading by the Tel Aviv Stock Exchange (TASE). Replacing Dead Sea Works in the Index is Elron Electronic Industries (NASDAQ: ELRNF). Elron, a multinational high-tech holding company, operates electronics, communications, semiconductors, and information technology subsidiaries.

Elron’s market capitalization nearly doubled in 1999, from $340 million to $650 million. The delisting of Dead Sea Works from trading positioned Elron as the 35th largest Israeli stock on the AMIDEX35 radar for the year 2000. Elron’s subsidiaries include NASDAQ traded Elbit Systems (ESLTF) and Zoran (ZRAN). Elron recently sold its holdings in Elbit Medical Imaging (EMITF) to GE for $145 million.

The AMIDEX35 Index tracks the thirty-five largest Israeli companies traded on either Wall Street or the Tel-Aviv stock exchange. Since it was first published on January 1, 1999, through March 31, 2000 the Index was up over 139%. In the first quarter of this year, the AMIDEX35 Index increased by more than 28%. As of March 31, 2000, the combined market capitalization of the 35 companies that comprise the AMIDEX35 Index reached over $100 billion. “The inclusion of Elron to the Index adds exposure to unique defense and Internet technology,” commented Gadi Beer, senior associate with TNI.

Bloomberg, L.P, calculates and publishes Index performance statistics. The AMIDEX35 Index is an unmanaged Index comprised of 35 of the highest market capitalization Israeli stocks traded either on the Tel Aviv or New York exchanges, and is not an investment product available for purchase. Additional information on the AMIDEX35 Index is available on www.amidex.com

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AMIDEX35 Israel Mutual Fund is the only fund to invest in Israel's 35 largest companies traded on U.S. and Tel Aviv Exchanges.