PICTURE YOURSELF BEHIND THIS WHEEL.

`V Indicator Rises

Economic activity in Israel con-
tinued expanding in Septem-
ber, according to the Bank of
Israel's `S' indicator.
The '5', or state of the econo-
my, indicator rose 0.4 percent
last month, following a 2 per-
cent jump in August, according
to preliminary figures released
last week.
During the third quarter, the
index rose 3 percent compared
to a flat second quarter. The in-
dex rose a more moderate 1.7

percent in the first quarter.
Retail trade was brisk last
month, rising 4.2 percent, and
was 15.5 percent higher than
the year before. The central
bank noted that the increase re-
flected the rapid growth in pri-
vate consumption.
By contrast, imports fell 3.5
percent after jumping 22.4 per-
cent in August as a result of the
backlog created by the civil ser-
vants' strike in July.

Geotek Deal Signed

Geotek Industries Inc. an-
nounced last week that a part-
nership, including well-known
investor George Soros, signed
a definitive agreement to invest
$40 million in Geotek, a U.S.-
Israeli telecommunications
company traded over-the-
counter in New York.
Geotek's shares surged on
the news, rising by $2 to $12 in
early afternoon New York trad-
ing on a huge volume on 3.6

million shares. Geotek issued a
press release saying it will is-
sue preferred stock, convertible
into its common stock at $9 per
share.
In addition, Geotek said it
has formed a strategic alliance
with the Soros group to acquire
licenses and construct digital
wireless telecommunications
networks in various overseas
markets.

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CREATING A HIGHER STANDARD

Economy Is Expanding

The economy took off last
month, expanding faster than
the first quarter's record levels,
State Revenues Director Yoram
Gabbai announced last week.
Value Added Tax collection
figures have increased since
September after a four percent
drop during the April to August
period, according to Mr. Gab-
bai.

In September, the trend was
reversed when half the decline
was eliminated. The rise in
VAT revenue gained strength
last month, even surpassing the
record first quarter's perfor-
mance.
VAT receipts are considered
a good indicator of economic ac-
tivity.

LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES

Symbol

Name

Exchange

Oct. 29

Nov. 5

Change

SCIXF

Scitex

NASDAQ

'24.63

'23.38

-51.25

ECILF

ECI Telecom

NASDAQ

M8.75

5

47.75

5 1.00

TEVIY

Teva Pharm

NASDAQ

'29.75

'31.38

+51.63

IEC

PEC Israel

NYSE

'31.88

'32.25

+50.37

ELBTF

Elb. rt Computers

NASDAQ

'38.25

'40.50

+52.25

ELT

Elscint LTD

NYSE

'5.00

'5.62

+50.62

ELRNF

Elron Electronics

NASDAQ

'18.25

'19.63

+51.38

TAD

Tadiran

NYSE

'35.13

'36.63

+5 1.49

CMVT

Comverse

NASDAQ

'15.38

'15.50

+50.12

'14.75

+52.37

LANTF

Lannet Data

NASDAQ

'12.38

Source: Allen (Mender, Prudential Securities,
West Bloomfield.

*GMAC SMARTLEASE 24 months. First pymt. plus $550 ref. sec. dep., $2,000.00 down plate of transfer fee due
on delivery. 4% state tax additional. Mile limitation of 30,000. 100 per mile excess charge over limitation. Lessee has
option to purchase at lease end. To get total payments, multiply payment by number of months.

R

C:7)

INKE CADILLAC

I- 696 AT VAN - DYKE

g eneral

Family ,,„,„ etors 7

LLJ

7 5 8 - 1 8 0 0

If traveling west on 1-696, exit Hoover, follow Service Drive to RINKE.
If traveling east on 1-696, exit Van Dyke; take second bridge past Van Dyke over expressway to RINKE.

CC:1

LLJ

35