AUDETTE Holiday Shopping Made Easy! 1997 In Stock Now! , . .. ....... Priced From s29,995°° Well Equipped 7100 Orchard Lake Rd. • WEST BLOOMFIELD, MICHIGAN 48322 • Telephone: (810) 851-7200 ke Sherwood Home toFlorida! Sherwood Now Offers Free Delivery and Set-up in South Florida! ♦ Fine designer furniture ♦ Interior design service ♦ Floor coverings ♦ Window treatments ♦ AcCessories ASK FOR 'DETAILS 46 6644 Orchard Like Road at Maple in West Bloomfield Mon-Thor-Fri 10-9 • Tue-Wed-Sat 10-6 • Sun 12-5 810 855-1600 Tecnomatix Signs With Mazda Jerusalem (JPFS)— Tecnomatix Technologies Ltd. recently an- nounced that it has completed its largest deal to date, a $10 million contract to sell Mazda Motor Cor- poration its computer-aided pro- duction engineering products (CAPE). According to the agreethent, Mazda will purchase over 100 software licenses as well as engi- neering and maintenance services. Valued at approximately $7.6 mil- lion, the software includes a host of programs that allow engineers to design and test cars in a corn- puterized virtual environment. The contract includes a previous- ly announced $2 million order. The deal represents car manu- facturers' need to manufacture better cars more quickly, said Harel Beit-On, Tecnomatix's CEO. Israel Budget On The Internet ond round of funding of the Polaris II venture-capital fund, the in- vestment management fund an- nounced. So far, the fund has raised a to- tal of $82 million from foreign and Israeli investors. The fund man- agers are in -advanced negotiations with foreign pension funds in an attempt to raise an additional $30 million. Conclusion of the trans- action is subject, among other points, to reaching an arrange- ment with the tax authorities whereby the funds will be exempt from tax in Israel. The Dovrat Shrem Group es- tablished the Polaris Fund II about five months ago, together with the investment bank Cowen & Co, and the Travelers Group Inc., a financial services holding company. The fund intends to in- vest in technology intensive com- panies with a high growth potential, mainly in the areas of communications, software, so- phisticated medical equipment, electronics and biotechnology. The fund recently made its first investment of $2.5 million in Backweb, a company engaged in the Internet field. The investment was made through a private issue of $13 million together with U.S.- investment bank Goldman Sachs and other investors. In addition to Dovrat Shrem, the funds' investors include Clar- idge Israel, BEA, Arisori Invest- ments, Teva, Bank Leumi, Ormat and Delek Investments. Jerusalem (JPFS) — The Israeli government's proposed 1997 bud- get is on the Internet for all to see — and query. Internet subscribers may send in queries about specific sections of the budget according to topics, names, numbers, ministries or the relevant budget book. The budget was put on the computer network by the information systems branch in the Finance Ministry Accountant General's Office. The budget material joins ex- isting Treasury information on the Jerusalem (JPFS) — Union Bank Internet, including that of the se- of Switzerland, one of the world's curities branch and the interna- most prominent financial insti- tional branch. They all can be tutions, has upgraded its evalu- reached by keying in ation of Bank Leumi's stock to a "buy" recommendation from its http://www.mofgov.il. The project was carried out by previous "hold" rating. The Zurich-based bank's Sharon Ben-Haim and Boaz Dolev of the Treasury and Zohar analysis of Leumi is based on its Birkman of the Magic computer third quarter financial statement, software company. Data will be which shows a steady growth in updated from time to time. In sec- profits and improvement of re- onds, Internet users can get an- turn on equity. The bank's ex- swers to queries about party pected return on equity will reach financing and allocations for road 10 percent, compared with 6 per- cent in the past, UBS said. development, for example. Profitability and the return on Yitzhak Dahan, head of the in- formation systems branch said the equity should increase strongly ministry intends its Internet pro- from the relatively low level of ject to provide access for all resi- 1995. Just to return to the sector norm of 10 percent leaves the rat- dents to databases and services. ing of the shares unduly cheap, UBS said. Bank Leumi is one of the two dominant banks in the local mar- ket, with a market share of about 30 percent. Jerusalem (JPFS) — The Dovrat UBS attributed the improved Shrem Group of Israel has raised rating to the positive change seen an additional $32 million in the in Bank Leumi's attempts to re- United States, completing the sec- duce its cost base, mainly by re- UBS Upgrades Bank Leumi Polaris Fund Monies Raised