AMIDEX News

Tioga Joins AMIDEX35 Index of Israeli Stocks


TransNations Investments, LLC, July 18, 2000 NEW YORK July 18, 2000 — TransNations Investments, LLC (TNI) announced today revisions to its AMIDEX35 Index, the bi-national equity benchmark for Israeli stocks. Clal Israel, one of Israel’s largest industrial holding companies, was acquired in an equity swap deal by IDB Development, Israel’s largest diversified holding company, and was delisted from trading by the Tel Aviv Stock Exchange. Replacing Clal Israel in the Index is Tioga Technologies (NASDAQ: TIGA), a provider of integrated circuits, software, and system-level solutions to public telephone operators. Tioga is a spin-off of Orckit Communications (NASDAQ: ORCT), a provider of Digital Subscriber Line (DSL) solutions. Orckit, an existing participant in the AMIDEX35 Index, was added to the Index on its last annual revision. Other telecommunications companies included in the AMIDEX35 Index are Comverse Technologies (NASDAQ: CMVT), ECI Telecom (NASDAQ: ECIL) and Gilat Satellites (NASDAQ: GILTF). The AMIDEX35 Index tracks the thirty-five largest Israeli companies traded on either Wall Street or the Tel-Aviv stock exchange. The Index was first calculated on January 1, 1999, and through July 17, 2000 is up over 170%. As of July 17, 2000, the combined market capitalization of the 35 companies that comprise the AMIDEX35 Index reached over $120 billion. “Tioga’s spin-off will enable both companies to focus on their product lines, and is expected to create a higher value to the investors,” 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. For more information, visit www.amidex.com, or call (856) 795-9229.

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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.