-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UUGlfT7A3SK9fuMDihVQvUhHzTwFyvmCoJaxKg266e/JVYJVLObyd0NIgKbaFhkx CwDGiBNKN1tbax6jo0VQ0Q== 0001178913-08-000436.txt : 20080214 0001178913-08-000436.hdr.sgml : 20080214 20080214120758 ACCESSION NUMBER: 0001178913-08-000436 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20080214 DATE AS OF CHANGE: 20080214 GROUP MEMBERS: AVRAHAM LIVNAT GROUP MEMBERS: CLAL FINANCE LTD. GROUP MEMBERS: IDB DEVELOPMENT CORPORATION LTD. GROUP MEMBERS: IDB HOLDING CORPORATION LTD. GROUP MEMBERS: NOCHI DANKNER GROUP MEMBERS: RUTH MANOR GROUP MEMBERS: SHELLY BERGMAN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AMPAL-AMERICAN ISRAEL CORP CENTRAL INDEX KEY: 0000731859 STANDARD INDUSTRIAL CLASSIFICATION: INVESTORS, NEC [6799] IRS NUMBER: 130435685 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-20148 FILM NUMBER: 08610792 BUSINESS ADDRESS: STREET 1: 555 MADISON AVENUE STREET 2: 20TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2125939842 MAIL ADDRESS: STREET 1: 555 MADISON AVENUE STREET 2: 20TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: AMPAL AMERICAN ISRAEL CORP /NY/ DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Clal Insurance Enterprises Holdings Ltd CENTRAL INDEX KEY: 0001376192 IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 48 MENACHEM BEGIN ROAD CITY: TEL-AVIV STATE: L3 ZIP: 66180 BUSINESS PHONE: 972-3-638-7575 MAIL ADDRESS: STREET 1: 48 MENACHEM BEGIN ROAD CITY: TEL-AVIV STATE: L3 ZIP: 66180 SC 13G 1 zk84863.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G (RULE 13D-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) UNDER THE SECURITIES EXCHANGE ACT OF 1934 AMPAL-AMERICAN ISRAEL CORPORATION - -------------------------------------------------------------------------------- (Name of Issuer) CLASS A STOCK, PAR VALUE $1.00 PER SHARE ("COMMON STOCK") - -------------------------------------------------------------------------------- (Title of Class of Securities) 032015 10 9 ------------------------------------- (CUSIP Number) DECEMBER 31, 2007 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the following box to designate the rule pursuant to which the Schedule is filed: [_] Rule 13d-1(b) [X] Rule 13d-1(c) [_] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 12 pages CUSIP NO. 032015 10 9 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons/ I.R.S. Identification Nos. of above persons (entities only). Clal Finance Ltd. - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use only - -------------------------------------------------------------------------------- 4. Place of Organization Israel - -------------------------------------------------------------------------------- 5. Sole Voting Power 0 Number of ------------------------------------------------------------- Shares 6. Shared Voting Power Beneficially 276,092 Common Stock* Owned by ------------------------------------------------------------- Each 7. Sole Dispositive Power Reporting 0 Person With: ------------------------------------------------------------- 8. Shared Dispositive Power 276,092 Common Stock* - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 276,092 Common Stock* - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 0.49%** - -------------------------------------------------------------------------------- 12. Type of Reporting Person: CO - -------------------------------------------------------------------------------- * See Item 4. ** Based on 57,702,532 Common Stock outstanding as of November 10, 2007 (as reported in the Issuer's Form 10Q filed with the Securities and Exchange Commission ("SEC") on November 8, 2007). Page 2 of 12 pages CUSIP NO. 032015 10 9 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons/ I.R.S. Identification Nos. of above persons (entities only). Clal Insurance Enterprises Holdings Ltd. - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use only - -------------------------------------------------------------------------------- 4. Place of Organization Israel - -------------------------------------------------------------------------------- 5. Sole Voting Power 0 Number of ------------------------------------------------------------- Shares 6. Shared Voting Power Beneficially 2,774,721 Common Stock* Owned by ------------------------------------------------------------- Each 7. Sole Dispositive Power Reporting 0 Person With: ------------------------------------------------------------- 8. Shared Dispositive Power 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 5.29%** - -------------------------------------------------------------------------------- 12. Type of Reporting Person: CO - -------------------------------------------------------------------------------- * See Item 4. ** Based on 57,702,532 Common Stock outstanding as of November 10, 2007 (as reported in the Issuer's Form 10Q filed with the SEC on November 8, 2007). Page 3 of 12 pages CUSIP NO. 032015 10 9 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons/ I.R.S. Identification Nos. of above persons (entities only). IDB Development Corporation Ltd. - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use only - -------------------------------------------------------------------------------- 4. Place of Organization Israel - -------------------------------------------------------------------------------- 5. Sole Voting Power 0 Number of ------------------------------------------------------------- Shares 6. Shared Voting Power Beneficially 2,774,721 Common Stock* Owned by ------------------------------------------------------------- Each 7. Sole Dispositive Power Reporting 0 Person With: ------------------------------------------------------------- 8. Shared Dispositive Power 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 5.29%** - -------------------------------------------------------------------------------- 12. Type of Reporting Person : CO - -------------------------------------------------------------------------------- *See Item 4. The 3,050,813 Ordinary Shares exclude 29,508 Ordinary Shares, all of which are held for members of the public through, among others, provident funds and mutual funds, which are managed by companies controlled by Epsilon Investment House Ltd., an indirect subsidiary of IDB Development (the "Epsilon Shares"). ** Based on 57,702,532 Common Stock outstanding as of November 10, 2007 (as reported in the Issuer's Form 10Q filed with the SEC on November 8, 2007). Page 4 of 12 pages CUSIP NO. 032015 10 9 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons/ I.R.S. Identification Nos. of above persons (entities only). IDB Holding Corporation Ltd. - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use only - -------------------------------------------------------------------------------- 4. Place of Organization Israel - -------------------------------------------------------------------------------- 5. Sole Voting Power 0 Number of ------------------------------------------------------------- Shares 6. Shared Voting Power Beneficially 2,774,721 Common Stock* Owned by ------------------------------------------------------------- Each 7. Sole Dispositive Power Reporting 0 Person With: ------------------------------------------------------------- 8. Shared Dispositive Power 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 5.29%** - -------------------------------------------------------------------------------- 12. Type of Reporting Person : CO - -------------------------------------------------------------------------------- *See Item 4. Excludes the Epsilon Shares. ** Based on 57,702,532 Common Stock outstanding as of November 10, 2007 (as reported in the Issuer's Form 10Q filed with the SEC on November 8, 2007). Page 5 of 12 pages CUSIP NO. 032015 10 9 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons/ I.R.S. Identification Nos. of above persons (entities only). Nochi Dankner - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use only - -------------------------------------------------------------------------------- 4. Place of Organization Israel - -------------------------------------------------------------------------------- 5. Sole Voting Power 0 Number of ------------------------------------------------------------- Shares 6. Shared Voting Power Beneficially 2,774,721 Common Stock* Owned by ------------------------------------------------------------- Each 7. Sole Dispositive Power Reporting 0 Person With: ------------------------------------------------------------- 8. Shared Dispositive Power 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 5.29%** - -------------------------------------------------------------------------------- 12. Type of Reporting Person : IN - -------------------------------------------------------------------------------- *See Item 4. Excludes the Epsilon Shares. ** Based on 57,702,532 Common Stock outstanding as of November 10, 2007 (as reported in the Issuer's Form 10Q filed with the SEC on November 8, 2007). Page 6 of 12 pages CUSIP NO. 032015 10 9 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons/ I.R.S. Identification Nos. of above persons (entities only). Shelly Bergman - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use only - -------------------------------------------------------------------------------- 4. Place of Organization Israel - -------------------------------------------------------------------------------- 5. Sole Voting Power 0 Number of ------------------------------------------------------------- Shares 6. Shared Voting Power Beneficially 2,774,721 Common Stock* Owned by ------------------------------------------------------------- Each 7. Sole Dispositive Power Reporting 0 Person With: ------------------------------------------------------------- 8. Shared Dispositive Power 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 5.29%** - -------------------------------------------------------------------------------- 12. Type of Reporting Person : IN - -------------------------------------------------------------------------------- *See Item 4. Excludes the Epsilon Shares. ** Based on 57,702,532 Common Stock outstanding as of November 10, 2007 (as reported in the Issuer's Form 10Q filed with the SEC on November 8, 2007). Page 7 of 12 pages CUSIP NO. 032015 10 9 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons/ I.R.S. Identification Nos. of above persons (entities only). Ruth Manor - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use only - -------------------------------------------------------------------------------- 4. Place of Organization Israel - -------------------------------------------------------------------------------- 5. Sole Voting Power 0 Number of ------------------------------------------------------------- Shares 6. Shared Voting Power Beneficially 2,774,721 Common Stock* Owned by ------------------------------------------------------------- Each 7. Sole Dispositive Power Reporting 0 Person With: ------------------------------------------------------------- 8. Shared Dispositive Power 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 5.29%** - -------------------------------------------------------------------------------- 12. Type of Reporting Person : IN - -------------------------------------------------------------------------------- *See Item 4. Excludes the Epsilon Shares. ** Based on 57,702,532 Common Stock outstanding as of November 10, 2007 (as reported in the Issuer's Form 10Q filed with the SEC on November 8, 2007). Page 8 of 12 pages CUSIP NO. 032015 10 9 - -------------------------------------------------------------------------------- 1. Name of Reporting Persons/ I.R.S. Identification Nos. of above persons (entities only). Avraham Livnat - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC Use only - -------------------------------------------------------------------------------- 4. Place of Organization Israel - -------------------------------------------------------------------------------- 5. Sole Voting Power 0 Number of ------------------------------------------------------------- Shares 6. Shared Voting Power Beneficially 2,774,721 Common Stock* Owned by ------------------------------------------------------------- Each 7. Sole Dispositive Power Reporting 0 Person With: ------------------------------------------------------------- 8. Shared Dispositive Power 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,050,813 Common Stock* - -------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 5.29%** - -------------------------------------------------------------------------------- 12. Type of Reporting Person : IN - -------------------------------------------------------------------------------- *See Item 4. Excludes the Epsilon Shares. ** Based on 57,702,532 Common Stock outstanding as of November 10, 2007 (as reported in the Issuer's Form 10Q filed with the SEC on November 8, 2007). Page 9 of 12 pages ITEM 1. (a) Name of Issuer: AMPAL-AMERICAN ISRAEL CORPORATION (hereinafter referred to as the "Issuer"). (b) Address of Issuer's Principal Executive Offices: 111 Arlozorov Street, Tel Aviv 62098, Israel ITEM 2. (a) Name of Person Filing: This Statement is filed by: (1) Clal Finance Ltd. (2) Clal Insurance Enterprises Holdings Ltd. (3) IDB Development Corporation Ltd. (4) IDB Holding Corporation Ltd. (5) Mr. Nochi Dankner (6) Mrs. Shelly Bergman (7) Mrs. Ruth Manor and (8) Mr. Avraham Livnat The foregoing entities and individuals are collectively referred to as the "Reporting Persons" in this Statement. (1) Clal Finance Ltd. is a majority owned subsidiary of Clal Insurance Enterprises Holdings Ltd., an Israeli public corporation ("Clal"). Through Clal Finance Ltd.`s wholly owned subsidiary, Clal Finance Batucha Investment Management Ltd. ("CFB"), Clal may be deemed to beneficially own 182 Common Stock (the "CFB Shares"). Clal may be deemed to beneficially own an aggregate of 3,050,813 Common Stock (the "Clal Shares"). The CFB Shares are included in the Clal Shares. See Item 4. (2) Clal is a majority owned subsidiary of IDB Development Corporation Ltd., an Israeli public corporation ("IDB Development"). By reason of IDB Development's control of Clal, IDB Development may be deemed to be the beneficial owner of, and to share the power to vote and dispose of, the Issuer Shares owned beneficially by Clal. See Item 4. (3) IDB Development is a majority owned subsidiary of IDB Holding Corporation Ltd., an Israeli public corporation ("IDB Holding"). By reason of IDB Holding's control (through IDB Development) of Clal, IDB Holding may be deemed beneficial owner of, and to share the power to vote and dispose of, the Issuer Shares owned beneficially by Clal. See Item 4. (4) Mr. Nochi Dankner, Mrs. Shelly Bergman, Mrs. Ruth Manor and Mr. Avraham Livnat may, by reason of their interests in, and relationships among them with respect to, IDB Holding, be deemed to control the corporations referred to in paragraphs (1) - (3) above. By reason of the control of IDB Holding by Nochi Dankner, Shelly Bergman, Ruth Manor and Avraham Livnat, and the relations among them, Nochi Dankner, Shelly Bergman, Ruth Manor and Avraham Livnat may each be deemed beneficial owner of, and to share the power to vote and dispose of, the Issuer Shares owned beneficially by Clal. See Item 4. (b) Address of Principal Business Offices or, if none, Residence: Clal Finance Ltd. - 37 Menachem Begin Street, Tel-Aviv 65220, Israel Clal Insurance Enterprises Holdings Ltd. - 37 Menachem Begin Street, Tel-Aviv 65220, Israel IDB Development Corporation Ltd. - The Triangular Tower, 44th floor, 3 Azrieli Center, Tel Aviv 67023, Israel IDB Holding Corporation Ltd. - The Triangular Tower, 44th floor, 3 Azrieli Center, Tel Aviv 67023, Israel. Mr. Nochi Dankner - The Triangular Tower, 44th floor, 3 Azrieli Center, Tel Aviv 67023, Israel. Mrs. Shelly Bergman - 9 Hamishmar Ha'Ezrachi Street, Afeka, Tel Aviv 69697, Israel. Mrs. Ruth Manor - 26 Hagderot Street, Savyon 56526, Israel. Mr. Avraham Livnat - Taavura Junction, Ramle 72102, Israel. Page 10 of 12 pages (c) Citizenship: Citizenship or place of organization of all Reporting Persons, as the case may be, is Israel. (d) Title of Class of Securities: Common Stock, par value $1.00 per share (the "Common Stock"). (e) CUSIP Number: 032015 10 9 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B) OR 240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A: Not Applicable. ITEM 4. OWNERSHIP Of the 276,092 Ordinary Shares reported in this Statement as beneficially owned by Clal Finance, 145,515 Ordinary Shares are held for its own account. Consequently, this Statement shall not be construed as an admission by Clal Finance that it is the beneficial owner of 130,577 Ordinary Shares covered by this Statement. Of the 3,050,813 Ordinary Shares reported in this Statement as beneficially owned by Clal (i) 2,490,895 Ordinary Shares are held for members of the public through, among others, provident funds, mutual funds, pension funds and insurance policies, which are managed by subsidiaries of Clal, each of which subsidiaries operates under independent management and makes independent voting and investment decisions, (ii) 182 Ordinary Shares are held by unaffiliated third-party client accounts managed by CFB as portfolio managers, each of which subsidiaries operates under independent management and makes investment decisions independent of Clal and has no voting power in such client accounts, and (iii) 559,736 are beneficially held for its own account. Consequently, this Statement shall not be construed as an admission by (i) Clal, that it is the beneficial owner of 2,491,077 Ordinary Shares covered by this Statement; and (ii) the Reporting Persons (other than Clal and Clal Finance) that they are the beneficial owners of 3,050,813 Ordinary Shares covered by this Statement. Except as set forth above, see items 5-11 of the cover pages hereto for beneficial ownership, percentage of class and dispositive power of the Reporting Persons, which are incorporated herein. ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [ ]. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON Not Applicable. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY Not Applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not Applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP Not Applicable. ITEM 10. CERTIFICATION By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Page 11 of 12 pages SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. February 14, 2008 CLAL FINANCE LTD. CLAL INSURANCE ENTERPRISES HOLDINGS LTD. IDB DEVELOPMENT CORPORATION LTD. IDB HOLDING CORPORATION LTD. NOCHI DANKNER SHELLY BERGMAN RUTH MANOR AVRAHAM LIVNAT BY: CLAL INSURANCE ENTERPRISES HOLDINGS LTD. BY: /s/ Uri Levy /s/ Omer Ben Pazi ------------------------------------- Uri Levy and Omer Ben Pazi, authorized signatories of CLAL INSURANCE ENTERPRISES HOLDINGS LTD., for itself and on behalf of Clal Finance Ltd., IDB Development Corporation Ltd., IDB Holding Corporation Ltd., Nochi Dankner, Shelly Bergman, Ruth Manor and Avraham Livnat, pursuant to agreement annexed as Exhibit 1 to this Schedule 13G. Page 12 of 12 pages EX-99 2 exhibit_1.txt EXHIBIT 1 February 14, 2008 CLAL INSURANCE ENTERPRISES HOLDINGS LTD. 37 Menachem Begin Street Tel-Aviv 65220 Israel Gentlemen, Pursuant to Rule 13d-1(k)(1)(iii) promulgated under the Securities Exchange Act of 1934, as amended, each of the undersigned hereby agrees that CLAL INSURANCE ENTERPRISES HOLDINGS LTD. ("Clal") may file as necessary on behalf of the undersigned with the Securities and Exchange Commission a Schedule 13G or Schedule 13D and any amendments thereto in respect of shares of AMPAL-AMERICAN ISRAEL CORPORATION purchased, owned or sold from time to time by the undersigned. Clal is hereby authorized to file a copy of this letter as an exhibit to said Schedule 13D or Schedule 13G or any amendments thereto. Very truly yours, /s/ CLAL FINANCE LTD., ----------------------------------- CLAL FINANCE LTD., /s/ IDB DEVELOPMENT CORPORATION LTD ----------------------------------- IDB DEVELOPMENT CORPORATION LTD. /s/ IDB HOLDING CORPORATION LTD. ----------------------------------- IDB HOLDING CORPORATION LTD. /s/ NOCHI DANKNER ----------------------------------- NOCHI DANKNER /s/ SHELLY BERGMAN ----------------------------------- SHELLY BERGMAN /s/ RUTH MANOR ----------------------------------- RUTH MANOR /s/ AVRAHAM LIVNAT ----------------------------------- AVRAHAM LIVNAT A g r e e d: /s/ CLAL INSURANCE ENTERPRISES HOLDINGS LTD - ------------------------------------------- CLAL INSURANCE ENTERPRISES HOLDINGS LTD. -----END PRIVACY-ENHANCED MESSAGE-----