Celebrate simchas and other
special occasions with the

State of Israel $100
Mazel Toy Bond.

An ideal way to commemorate the great moments in life
while building Israel's future.

Purchase Price: $100 per unit. Matures 5 years from issue date at $123, representing an
interest rate of 4.23%. This interest rate is effective through June 24, 2005. Owner
receives an attractive certificate suitable for framing. Must be registered in the name
of an individual (custodian for a minor), or jointly in the names of no more than two
individuals. Non-transferrable. Not eligible for early redemption.

Development Corporation for Israel

ISRAEL BONDS

Member NASD, SIPC

Development Corporation for Israel/State of Israel Bonds
29777 Telegraph Rd Suite 2440 • Southfield, MI 48034-7667
248-352-6555 • 888-352-6556
www.israelbonds.com

This is not an offering, which can be made only by prospectus.Read it carefully before investing.