Congratulations to David B. Hermelin our newly elected Chairman of the Board, State of Israel Bonds. • • • • With Your Guidance, We Look Forward to Another Record Year for Israel Bonds. Yitzhak Modai Finance Minister State of Israel Ambassador Meir Rosenne President and CEO State of Israel Bonds Michael Siegal National Campaign Chairman Jerome Soble Detroit General Chairman Hers hell Wais Detroit Executive Director Development Corporation for Israel State of Israel Bonds 29201 Telegraph Road, Suite 324, Southfield, MI 48034 • 313 352-6555 4 FRIDAY, FEBRUARY 28, 1992