An Attempt to Damage EMG's Gas Supply Site near El-Arish has Failed

TEL AVIV, Israel, July 30, 2011 (GLOBE NEWSWIRE) -- Ampal-American Israel Corporation AMPL, a holding company in the business of acquiring and managing interests in various businesses, announced today that it has been advised by East Mediterranean Gas Co. ("EMG"), in which Ampal has a 12.5% interest, that in the wake of violent incidents in El-Arish, Egypt on July 29th, in the early morning of July 30^th there was an attempt to cause damage to the EMG site near El-Arish.

The security forces on site returned fire, prevented any penetration of the EMG site and repelled the attack. No casualties were reported.

EMG reports that the incident will not affect its operations once EGPC resumes supply after it was interrupted due to an explosion at a GASCO terminal on July 12, 2011.

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Ampal and its subsidiaries acquire interests primarily in businesses located in the State of Israel or that are Israel-related. Ampal is seeking opportunistic situations in a variety of industries, with a focus on energy, chemicals and related sectors. Ampal's goal is to develop or acquire majority interests in businesses that are profitable and generate significant free cash flow that Ampal can control. For more information about Ampal please visit our web site at www.ampal.com.

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