An Attempt to Damage EMG's Gas Supply Site near El-Arish has Failed
July 30 2011 - 4:25PM
Ampal-American Israel Corporation (Nasdaq: AMPL), a holding company
in the business of acquiring and managing interests in various
businesses, announced today that it has been advised by East
Mediterranean Gas Co. ("EMG"), in which Ampal has a 12.5% interest,
that in the wake of violent incidents in El-Arish, Egypt on July
29th, in the early morning of July 30th there was an
attempt to cause damage to the EMG site near El-Arish.
The security forces on site returned fire, prevented any
penetration of the EMG site and repelled the attack. No casualties
were reported.
EMG reports that the incident will not affect its operations
once EGPC resumes supply after it was interrupted due to an
explosion at a GASCO terminal on July 12, 2011.
About Ampal:
Ampal and its subsidiaries acquire interests primarily in
businesses located in the State of Israel or that are
Israel-related. Ampal is seeking opportunistic situations in a
variety of industries, with a focus on energy, chemicals and
related sectors. Ampal’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.
Safe Harbor Statement
Certain information in this press release includes
forward-looking statements (within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934) and information relating to Ampal that are
based on the beliefs of management of Ampal as well as assumptions
made by and information currently available to the management of
Ampal. When used in this press release, the words "anticipate,"
"believe," "estimate," "expect," "intend," "plan," and similar
expressions as they relate to Ampal or Ampal's management, identify
forward-looking statements. Such statements reflect the current
views of Ampal with respect to future events or future financial
performance of Ampal, the outcome of which is subject to certain
risks and other factors which could cause actual results to differ
materially from those anticipated by the forward-looking
statements, including among others, the economic and political
conditions in Israel, the Middle East, including the situation in
Iraq and Egypt, and the global business and economic conditions in
the different sectors and markets where Ampal's portfolio companies
operate. Should any of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results or
outcome may vary from those described herein as anticipated,
believed, estimated, expected, intended or planned. Subsequent
written and oral forward-looking statements attributable to Ampal
or persons acting on its behalf are expressly qualified in their
entirety by the cautionary statements in this paragraph. Please
refer to the Ampal's annual, quarterly and periodic reports on file
with the SEC for a more detailed discussion of these and other
risks that could cause results to differ materially. Ampal assumes
no obligation to update or revise any forward-looking
statements.
CONTACT: FOR: AMPAL-AMERICAN ISRAEL CORPORATION
CONTACT: Irit Eluz
CFO - SVP Finance & Treasurer
1 866 447 8636
irit@ampal.com
FOR: KM/KCSA - Investor Relations
CONTACT: Roni Gavrielov
011-972-3-516-7620
roni@km-ir.co.il
Jeff Corbin / Marybeth Csaby
212-896-1214 / 212-896-1236
jcorbin@kcsa.com / mcsaby@kcsa.com
FOR: PM-PR Media consultants
CONTACT: Zeev Feiner
011-972-50-790-7890
z@pm-pr.com
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