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Electric Fuel
Signs Agreement
Jerusalem (JPFS) — Electric
Fuel, a Har Hotzvim-based mak-
er of a zinc air battery designed
to fuel commercial vehicles, has
signed an agreement with
Swedish Vattenfall AB that will
allow the company to build the
first zinc air battery regenera-
tion and refueling plant.
Lehman Brothers recently re-
iterated Electric Fuel's V2 rank-
ing, saying that the deal
demonstrates that the zinc air
battery has business opportuni-
ties in the commercial fleet mar-
ket. The investment bank also
said that Electric Fuel's shares
are trading below their poten-
tial.
Golan Electronics
In The Philippines
Jerusalem (JPFS) — Golan Elec-
tronics has won a $1.5 million
deal to supply a cellular phone
network on two islands in the
Philippines.
The deal has the potential to
reach $6 million in later stages.
Golan Electronics, a sub-
sidiary of Tadiran Communica-
tions, develops and manu-
factures •small- and inedium-
.sized cellular communication
systems.
Elbit Signs
Artillery Deal
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Jerusalem (JPFS) — Elbit Sys-
tems Ltd. has signed a $28 mil-
lion contract to supply ids
artillery command and control
systems to the Royal Nether-
lands Army.
The contract was signed with
Alcatel Telecom Nederland to
supply Elbit's system for the
Dutch army's VUIST-I project.
The contract will be executed
over the next three years and
marks the first sale of such a sys-
tem to a NATO country.
. Executives said Elbit, as the
main subcontractor to Alcatel
and a world leader in artillery
command and control systems,
will provide equipment sup-
porting artillery guns and MLRS
multiple launch rockets, as well
as simulators.
Elbit will also supply soft-
ware, as well as integration to
equipment, such as radios and
radars, already in use in the
Dutch military.
The contract is a followup or-
der to a $3.5 million pilot project
carried out by Alcatel and Elbit
since 1992.
The pilot was chosen after an
international competition.
The contract "signifies an im-
portant milestone" for Elbit Sys-
tems, as it reinforces cooperation
with the Dutch military and in-
dustry, company president and
CEO Joseph Ackerman said.
Elbit Systems anticipates that
the program will enhance
prospective ground and artillery
command and control systems
sales to additional NATO coun-
tries and other customers, he
said.
BackWeb Supplies
New Technology
Jerusalem (JPFS) — BackWeb
of Jerusalem has supplied the
Wall Street Journal with its. soft-
ware, which will allow the paper
to broadcast selected new items
over the Internet.
Using BackWeb's technology,
the Journal interactive Internet
newspaper edition is now offer-
ing a new service called "Per-
sonal Journal News Alert,"
which automatically supplies
subscriber-selected news items.
Leumi Launches
Road Show
Jerusalem (JPFS) — Bank Leu-
mi CEO Eitan Raff, Oneral
manager Galia Maor, MI Hold-
ings general manager Meir Ja-
cobson and a group of their aides
will visit Europe to market Bank
Leumi shares to European in-
stitutions.
According to the plan, MI
Holdings — the state company
which administers the sale of
government shares in the banks
— will issue 10 percent or the
-bank's shares for immediate and
deferred raising of capital
through some $240 million of op-
tions.
The shares will ultimately be
registered for trading on the Tel
Aviv Stock Exchange.
MI Holdings estimates it is
feasible to raise 75 percent of the
planned issue proceeds through
European investors.
If these estimates are realized,
MI would consider expanding
the issue to 15 percent of the
bank's shares, which would
hopefully translate into $360
million in raised capital.
Publicity
Deadlines
The normal deadline for
local news and publicity
items is noon Thursday, eight
days prior to issue date. The
deadline for birth announce-
ments is 10 a.m. Monday,
four days prior to issue date;
out-of-town obituaries, 10
a.m. Tuesday, three days pri-
or to issue date.