Euronet Reports
Subscriber Boom

Subscribers for overseas calls via
Euronet from the autonomous ar-
eas have doubled in the last two
weeks because of Bezek's threat
to cut off international dialing
from Gaza and Jericho.
Euronet said the company
started accepting subscribers in
the autonomous areas three
months ago. Calls from the areas
comprise 15 percent of its over-
seas dialing business. Some 70
percent of the calls are placed to
Egypt, Jordan and other countries
in the region. Euronet recently
began offering overseas dialing
services for residents of Beirut.

Light Railway
To Be Built

7_ J.

A group of industrial conglomer-
ates announced the formation of
a body to prepare for the con-
struction of a suburban light rail-
way.
The new group is to be known
at Universal Transport Manage-
ment (UTM).
The consortium includes the
Wertheim group, Ta'avura, Avi-
ram and Goldman (Metro), and
Universal Motors Israel.
The companies participating
in UTM are all linked, directly or
indirectly, with companies abroad
in the field of transportation, in-
cluding the Kawasaki railway di-
vision of Japan, the railway
division of General Motors in the
United States, and Electronic
Data Systems, which is involved
with computerized management
of several light railways around
the world.
The companies said that they
formed the new group with the
realization that the issue of pub-
lic transport and especially the
light railway would be an impor-
tant government priority during
the coming decade.
UTM is to deal with planning,
building, and running all aspects
of the light railway project. It has
already received inquiries from
other bodies interested in coop-
erating with it, the companies
said.

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Elmaleh Sells
Interest In Joel

Dr. Joe Elmaleh sold a 16.82 per-
cent controlling interest in
Jerusalem Oil Exploration (Joel)
to Yuval Ran of Credit Lines for
$17.5 million.
Dr. Elmaleh executed the sale
through a 100 percent-owned
firm, the UK-based Southern
Shipping & Energy. Dr. Joel owns
shares in Pass-Port (33.84 per-
cent), Isramco (.04 percent) and
Isramco Inc., which is traded on
Nasdaq.

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