Ampal-American Israel (AMPL) Raises Per Share Offer for Gadot Chemical Tankers

May 29, 2008 1:32 PM EDT

Ampal-American Israel Corporation (NASDAQ: AMPL) announced today that Merhav Ampal Energy, a wholly owned subsidiary of Ampal, has increased the price per share of its previously announced offer in Israel to purchase up to approximately 15% of Gadot Chemical Tankers and Terminals Ltd. outstanding shares. The increased price per share will be approximately $1.74.

The offer will expire on June 3, 2008 at 14:00 Israel time.

Ampal-American Israel Corporation acquires interests in businesses located in the State of Israel or that are Israel-related.

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