<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE
SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 6)
ISRAMCO, INC.
(Name of Issuer)
Common Stock par value $.01 per share
(Title of Class of Securities)
465141109
(CUSIP Number)
Martin Mushkin
Pomeranz Gottlieb & Mushkin, LLC
205 Lexington Avenue - 16th Floor
New York, NY 10016
212-779-4233
(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
July and August, 1997
(Date of Event with Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule
13d.1(b) (3) or (4), check the following box: [ ]
Check the following box if a fee is being paid with the statement: [ ]
<PAGE> 2
CUSIP No. 465141109 (See Schedule A)
1) Name of Reporting Person Naptha Holding Ltd.
S.S. or I.R.S. Identification No. (Intentionally
of Above Person Omitted)
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds WC
- ------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization Israel
- --------------------------------------------------------------------------------
7) Sole Voting Power 14,874,225 shares
--------------------------------------------------
Number of Shares 8) Shared Voting Power -0-
Beneficially Owned --------------------------------------------------
by Reporting
Person with 9) Sole Dispositive Power 14,874,225 shares
--------------------------------------------------
10) Shared Dispositive Power -0-
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially 14,874,225 shares
Owned By Each Reporting Person
- --------------------------------------------------------------------------------
12) Check box if the Aggregate Amount [ ]
in Row(11) Excludes Certain Shares
- --------------------------------------------------------------------------------
13) Percent of Class Represented by 47.3%
- --------------------------------------------------------------------------------
14) Type of Reporting Person CO
- --------------------------------------------------------------------------------
1
<PAGE> 3
CUSIP No. 465141109 (See Schedule B)
1) Name of Reporting Person Naptha Israel Petroleum
Corporation Ltd.
S.S. or I.R.S. Identification No. (Intentionally
of Above Person Omitted)
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds WC
- --------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization Israel
- --------------------------------------------------------------------------------
7) Sole Voting Power -0-
--------------------------------------------------
Number of Shares 8) Shared Voting Power -0-
Beneficially Owned --------------------------------------------------
by Reporting
Person with 9) Sole Dispositive Power -0-
--------------------------------------------------
10) Shared Dispositive Power -0-
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially -0-
Owned By Each Reporting Person
- --------------------------------------------------------------------------------
12) Check box if the Aggregate Amount [ ]
in Row(11) Excludes Certain Shares
- --------------------------------------------------------------------------------
13) Percent of Class Represented by N/A
- --------------------------------------------------------------------------------
14) Type of Reporting Person CO
- --------------------------------------------------------------------------------
2
<PAGE> 4
CUSIP No. 465141109 (See Schedule C)
1) Name of Reporting Person J.O.E.L. Jerusalem Oil
Exploration Ltd.
S.S. or I.R.S. Identification No. (Intentionally
of Above Person Omitted)
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds N/A
- --------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization Israel
- --------------------------------------------------------------------------------
7) Sole Voting Power -0-
--------------------------------------------------
Number of Shares 8) Shared Voting Power -0-
Beneficially Owned --------------------------------------------------
by Reporting
Person with 9) Sole Dispositive Power -0-
--------------------------------------------------
10) Shared Dispositive Power -0-
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially -0-
Owned By Each Reporting Person
- --------------------------------------------------------------------------------
12) Check box if the Aggregate Amount [ ]
in Row(11) Excludes Certain Shares
- --------------------------------------------------------------------------------
13) Percent of Class Represented by N/A
- --------------------------------------------------------------------------------
14) Type of Reporting Person CO
- --------------------------------------------------------------------------------
3
<PAGE> 5
CUSIP No. 465141109 (See Schedule D)
1) Name of Reporting Person Equital, Ltd.
(formerly known as
Pass-Port Ltd.)
S.S. or I.R.S. Identification No. (Intentionally
of Above Person Omitted)
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds N/A
- --------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization Israel
- --------------------------------------------------------------------------------
7) Sole Voting Power -0-
--------------------------------------------------
Number of Shares 8) Shared Voting Power -0-
Beneficially Owned --------------------------------------------------
by Reporting
Person with 9) Sole Dispositive Power -0-
--------------------------------------------------
10) Shared Dispositive Power -0-
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially -0-
Owned By Each Reporting Person
- --------------------------------------------------------------------------------
12) Check box if the Aggregate Amount [ ]
in Row(11) Excludes Certain Shares
- --------------------------------------------------------------------------------
13) Percent of Class Represented by N/A
- --------------------------------------------------------------------------------
14) Type of Reporting Person CO
- --------------------------------------------------------------------------------
4
<PAGE> 6
CUSIP No. 465141109 (See Schedule F)
1) Name of Reporting Person Israel Credit Lines
Complementary Financial Services
Ltd.
S.S. or I.R.S. Identification No. (Intentionally
of Above Person Omitted)
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds N/A
- --------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization Israel
- --------------------------------------------------------------------------------
7) Sole Voting Power -0-
--------------------------------------------------
Number of Shares 8) Shared Voting Power -0-
Beneficially Owned --------------------------------------------------
by Reporting
Person with 9) Sole Dispositive Power -0-
--------------------------------------------------
10) Shared Dispositive Power -0-
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially -0-
Owned By Each Reporting Person
- --------------------------------------------------------------------------------
12) Check box if the Aggregate Amount [ ]
in Row(11) Excludes Certain Shares
- --------------------------------------------------------------------------------
13) Percent of Class Represented by N/A
- --------------------------------------------------------------------------------
14) Type of Reporting Person CO
- --------------------------------------------------------------------------------
5
<PAGE> 7
CUSIP No. 465141109 (See Schedule K)
1) Name of Reporting Person United Kingsway Ltd.
S.S. or I.R.S. Identification No. (Intentionally
of Above Person Omitted)
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds N/A
- --------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization Nassau, Bahamas
- --------------------------------------------------------------------------------
7) Sole Voting Power -0-
--------------------------------------------------
Number of Shares 8) Shared Voting Power -0-
Beneficially Owned --------------------------------------------------
by Reporting
Person with 9) Sole Dispositive Power -0-
--------------------------------------------------
10) Shared Dispositive Power -0-
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially -0-
Owned By Each Reporting Person
- --------------------------------------------------------------------------------
12) Check box if the Aggregate Amount [ ]
in Row(11) Excludes Certain Shares
- --------------------------------------------------------------------------------
13) Percent of Class Represented by N/A
- --------------------------------------------------------------------------------
14) Type of Reporting Person CO
- --------------------------------------------------------------------------------
6
<PAGE> 8
CUSIP No. 465141109 (See Schedule L)
1) Name of Reporting Person YHK Investment LP
S.S. or I.R.S. Identification No. (Intentionally
of Above Person Omitted)
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a (a) [ ]
Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds [AF]
- --------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings
is Required Pursuant to Items 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization Israel
- --------------------------------------------------------------------------------
7) Sole Voting Power -0-
--------------------------------------------------
Number of Shares 8) Shared Voting Power -0-
Beneficially Owned --------------------------------------------------
by Reporting
Person with 9) Sole Dispositive Power -0-
--------------------------------------------------
10) Shared Dispositive Power -0-
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially -0-
Owned By Each Reporting Person
- --------------------------------------------------------------------------------
12) Check box if the Aggregate Amount [ ]
in Row(11) Excludes Certain Shares
- --------------------------------------------------------------------------------
13) Percent of Class Represented by -0-
- --------------------------------------------------------------------------------
14) Type of Reporting Person PN
7
<PAGE> 9
The Schedule 13D filed with the Securities and Exchange Commission (the
"Commission") on September 20, 1995,
1. as amended by Amendment No. 1 filed with the Commission on January 20,
1996,
2. as amended by Amendment No. 2 filed with the Commission on or about March
27, 1996,
3. as amended by Amendment No. 3 filed with the Commission on or about
November 27, 1996,
4. as amended by Amendment No. 4 filed with the Commission on February 12,
1997, and
5. as amended by Amendment No. 5 filed with the Commission on May xx, 1997
(collectively the "Schedule 13D") relating to the common stock, par value $.01
per share, of Isramco, Inc. are hereby amended by adding the information set
forth below. All capitalized terms herein have the meaning ascribed to them in
Schedule 13D.
This amendment is filed by United Kingsway Ltd. ("Kingsway"), and Israel
Credit Lines Complementary Financial Services, Inc. ("Complementary").
ITEM 1. SECURITY AND ISSUER.
The class of equity securities to which this Schedule 13D relates is the
Common Stock, par value $.01 per share, ("shares") of Isramco, Inc., a Delaware
corporation (the "Issuer"). The principal executive office of the Issuer is at
575 Madison Ave., New York, NY 10022.
ITEM 2. IDENTITY AND BACKGROUND.
As reported more fully in Amendment No. 5 to the Schedule 13D filed by the
undersigned, United Kingsway Ltd. ("Kingsway") and Israel Credit Lines
Complementary Financial Services, Inc. ("Complementary") formed Y.H.K.
Investment LP ("YHK"). YHK controls Equital Ltd. ("Equital") (formerly known as
Passport Ltd.) and through the chain shown in Amendment No. 5, it controls
Isramco.
Kingsway was controlled by Robert Jean Archens. Messrs. Archens and Tsuff
were the directors of Kingsway. As of July 25, 1997, Haim Tsuff purchased Mr.
Archens' interest in Kingsway. Prior to this transaction, Haim Tsuff did not
have a significant equity interest in Kingsway. Kingsway has interests in
companies in addition to YHK. Prior to this transaction, payment of those debts
were guaranteed by Archens. In consideration of the transfer by Mr. Archens of
his interests in Kingsway, Mr. Tsuff assumed Mr. Archens' guarantees and the
beneficiaries of those guarantees accepted Mr. Tsuff's guarantees in lieu of
those of Mr. Archens. Mr. Tsuff is now the sole owner and director of Kingsway.
See Schedule K.
David Yayni now controls Complementary by virtue of his purchase of 17.8%
of that public company. He purchased 10.1% of the shares of Complementary
previously owned by a subsidiary of Complementary for a total of $151,000. He
received additional shares of Complementary (7.7%) for no consideration.
On July 15, 1997, Youval Ran resigned as President of Isramco. On July 23,
1997, Daniel Avner was elected President of Isramco, and Avihu Ginzburg, PhD was
elected to the Board of Directors of Isramco. Other personnel changes in the
entities in the chain of ownership are shown on the accompanying Schedules.
As of August 3, 1997, Pass-port Ltd. changed its name to Equital Ltd.
Equital also sold shares to its employees and that resulted in a change in the
percentage of ownership in Equital held by JOEL.
The filing of this Schedule 13D does not constitute an admission by any of
the persons making this filing that such person are a "group" for purposes of
Section 13(d)(3) of the Act. The Reporting Persons deny that they should be
deemed to be such a "group" and such persons are making this filing only because
they may be deemed to constitute a "group" for purposes of Section 13(d)(3) of
the Act.
8
<PAGE> 10
Kingsway and Complementary own 74% and 26% of YHK respectively. A chart
showing the chain of ownership is included follows this narrative.
During the last five years, none of the Reporting Persons, nor any of
their officers and directors, has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors). During the last five
years, none of the Reporting Persons, nor any of their officers and directors,
was a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, Federal or State securities laws or finding
any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Mr. Tsuff paid for Mr. Archens' interest in Kingsway by assuming his
guarantees of certain debts of Kingsway. Kingsway has substantial interests in
businesses other than YHK (and through it in Isramco). Consequently, it is not
practicable to establish a value on that portion of the guarantee assumed by Mr.
Tsuff attributable to YHK.
Mr. Yayni purchased his interest in Complementary as explained under Item
2 above.
ITEM 4. PURPOSE OF THE TRANSACTION.
The purpose of the Tsuff/Archens transaction was to transfer Mr. Archens'
interest in Kingsway to Mr. Tsuff, and thus buy out Mr. Archens' interests in
the assets owned and controlled by Kingsway. The purpose of the Yayni
transactions was to transfer the control of Complementary to Mr. Yayni.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The aggregate number and percentage of the class of securities being
reported on here beneficially owned by the Reporting Persons is 14,874,225
shares which is 47.3% of the outstanding shares assuming the exercise of all of
the warrants held by Holding. The other persons who, together with the persons
named in Item 2, comprise a group with the meaning of Section 13(d)(3) of the
Act are indirect beneficial owners of these Shares.
(b) All power to vote the Shares is vested in Naptha Holding, Ltd. (See
Amendment No. 4 to this Form 13D.)
(c) From time to time, the persons making this report may acquire
additional securities of Isramco in the ordinary course of their business in
market transactions.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
An agreement (in Hebrew) dated August 20, 1997 pursuant to which David
Yayni received his shares in Complementary, as filed by Complementary with the
Tel Aviv Stock Exchange is attached.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 13, an agreement (in Hebrew) dated August 20, 1997 pursuant to
which David Yayni obtained his shares in Complementary. To be filed as an
amendment after translation is obtained.
9
<PAGE> 11
-------------
DAVID YAYNI
-------------
|
17.6% |
\|/
-------------------------- ----------------
UNITED KINGSWAY LTD COMPLIMENTARY
(CONTROLLED BY HAIM TZUFF) (PUBLIC COMPANY)
-------------------------- ----------------
| | |
74% | | 28% |
| \ | \|/
---- ---------------------------------
/ Y.H.K.
LIMITED PARTNERSHIP(ISRAEL)
---------------------------------
|
42.3% |
\|/
---------------------------------
EQUITAL LTD
(FORMERLY KNOWN AS PASS-PORT LTD)
---------------------------------
| /|\
43.4% | | 9.6%
\|/ |
---------------------------------/
J.O.E.L. LTD ---------
---------------------------------\ |
| |
86.6% | |
\|/ |
--------------------------------- |
NAPHTHA |
--------------------------------- |
| |
100% | | 5.5%
\|/ |
--------------------------------- |
NAPHTHA HOLD LTD |
--------------------------------- |
| |
36.5% | |
\|/ |
--------------------------------- |
ISRAMCO INC. ---------
---------------------------------
|
|
\|/
---------------------------------
ISRAMCO OIL AND GAS LTD
GENERAL PARTNER
---------------------------------
|
|
\|/
------------------------------------
ISRAMCO NEGEV 2 LIMITED PARTNERSHIP
------------------------------------
10
<PAGE> 12
EXHIBIT 11
SIGNATURES AND JOINT FILING AGREEMENT
Each of the undersigned hereby agrees that the Schedule 13D with respect
to the common stock, par value $.01 per share, of Isramco, Inc. (to which this
Agreement is attached as EXHIBIT 10), and all subsequent amendments, may be
filed on behalf of each such person.
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.
October 1, 1997
NAPTHA HOLDING LTD. ("HOLDING") Schedule A
NAPTHA ISRAEL PETROLEUM CORPORATION LTD. Schedule B
J.O.E.L. JERUSALEM OIL EXPLORATION LTD. Schedule C
EQUITAL LTD. (formerly PASS-PORT LTD) Schedule D
ISRAEL CREDIT LINES COMPLEMENTARY FINANCIAL SERVICES LTD. Schedule F
UNITED KINGSWAY LTD. Schedule K
YHK INVESTMENT LIMITED PARTNERSHIP Schedule L
By: /s/
-------------------------------------------------------
Raanan Weisel / Pinchas Pinchas, Attorney in Fact
See powers of attorney filed with prior Amendments.
11
<PAGE> 13
SCHEDULE A
DIRECTORS AND EXECUTIVE OFFICERS
OF
NAPTHA HOLDING LTD.
("HOLDING")
<TABLE>
<CAPTION>
Name Title Address
- ---- ----- -------
<S> <C> <C>
Jackob Maimon Chairman of the Board 10 Izack Sade Street
Petach-Tikva
Yossi Levy Director 5 Mismar Hslusa Street
Rishon Letzion
</TABLE>
12
<PAGE> 14
SCHEDULE B
DIRECTORS AND EXECUTIVE OFFICERS
OF
NAPTHA ISRAEL PETROLEUM CORP. LTD.
<TABLE>
<CAPTION>
Name Title Address
- ---- ----- -------
<S> <C> <C>
Jackob Maimon Chairman of the Board 10 Izack Sade Street
Netach-Tikva
Yossi Levy General Manager 5 Mismar Hslusa Street
Rishon Letzion
Raanan Wiesse(l) Finance Manager 22 Hsmim Street
Givatim
Anat Riner(1) Director 154 Rotshild Street
Petach-Tikva
Meir Avrahami(1) Director 6 Rhash Street
Hadera
ReviveTal Ltd. Director(2) Hagranit 8.
Kiryat Arie
Petach-Tikva 49222
Revive Gal Ltd. Director(2) Hagranit 8.
Kiryat Arie
Petach-Tikva 49222
Revive Ad Ltd. Director(2) Hagranit 8.
Kiryat Arie
Petach-Tikva 49222
Revive Dan Ltd. Director(2) Hagranit 8.
Kiryat Arie
Petach-Tikva 49222
</TABLE>
- ---------------------------
(1) Citizen of Israel.
(2) Company fully owned by J.O.E.L. These companies are all organized
under Israeli law, and were established to hold these directorships.
13
<PAGE> 15
SCHEDULE C
DIRECTORS AND EXECUTIVE OFFICERS
OF
J.O.E.L. JERUSALEM OIL EXPLORATION LTD.
MICHAL MALCAH
Director
5 Kasani Street, Ramat Aviv, Tel Aviv, Israel
Advocate
ARIEH PERL
Director
41 Alexander Zeid Street, Naveh Oz, Petach Tikva, Israel
Manager of several companies; director of Polygon Co., a textile company
BARUCH KIRSHSTEIN
Director
10 Alfassi Street, Jerusalem, Israel
General Manager of B. Kirsharein Ltd.
MOSHE MITELMAN, Ph.D.
Director
39 Dibell Reoven Street
Petach-Tikva
DAVID DAVID
Chief Executive Officer
7 Tidhar Street, Ramat-Efal, Israel
PINCHAS PINCHAS
Comptroller
82B Katz Street, Petach-Tikva
ANMON ARGAMAN, CPA
Internal Auditor
8, Hagranit Street, Kiryat Arie, Petach-Tikva 49222
EYAL GIBOR
Director
14 Drezner Street, Tel-Aviv
Co-General Manager of Israel Credit Lines Complementary Financial Services Ltd.
14
<PAGE> 16
SCHEDULE D
DIRECTORS AND EXECUTIVE OFFICERS
OF
EQUITAL LTD.
MICHAEL VALDAN
Director
35 Burla Street, Tel-Aviv, Israel
Advisor in the field of chemistry and petro-chemistry in Israel and abroad
DR. ESTI BAT
Director
2 Dow Gruner, Herzliya, Israel
Marketing Manager, Initiator of Projects in ESI, Ltd., a privately owned
company, Lecturer at the Tel-Aviv University
MICHAEL GUTMAN
Chief Executive Officer
PINCHAS PINCHAS
Comptroller
82B Katz Street, Petach Tikva, Israel
BLACKSTONE LTD.
Director(1)
Hagranit 8, Kiryat Arie, Petach-Tikva
ORANGESTONE LTD.
Director(1)
Hagranit 8, Kiryat Arie, Petach-Tikva
PINKSTONE LTD.
Director(1)
Hagranit 8, Kiryat Arie, Petach-Tikva
BORDSTONE LTD.
Director(1)
Hagranit 8, Kiryat Arie, Petach-Tikva
- ---------------------
(1) Fully owned by YHK General Manager Ltd. All of these companies are
organized under Israeli law, and were established to hold these directorships.
15
<PAGE> 17
SCHEDULE F
DIRECTORS AND EXECUTIVE OFFICERS
OF
ISRAEL CREDIT LINES COMPLEMENTARY FINANCIAL SERVICES LTD.
ERAN TADMOR
Director (Manager, L.T.S. Ltd., electric products)
1 Oranim Street
Kefar Shemrio
RONY ELIAD
Director - P.R. and marketing consultant
39 Shamgar Street, Zala
DAVID YAYNI(1)
Director
4 Raoul Wallenberg St., Tel-Aviv, Israel
YARON YAYNI(1)
Director
4 Raoul Wallenberg St., Tel-Aviv, Israel
RON BARNESS(1)
Director
4 Raoul Wallenberg St., Tel-Aviv, Israel
SHIMON ELBAZ(1)
Director
4 Raoul Wallenberg St., Tel-Aviv, Israel
EYAL GIBOR(1)
Co-General Manager
14 Drezner St., Tel-Aviv, Israel
YOUVAL RAN(1)
Co-General Manager
9 Berazani Str., Ramat Aviv, Tel-Aviv, Israel
Youval Yayni(1)
Secretary
4 Raoul Wallenberg St., Tel-Aviv, Israel
- ----------------------
(1) Citizens of Israel.
16
<PAGE> 18
SCHEDULE K
DIRECTORS AND EXECUTIVE OFFICERS
OF
UNITED KINGSWAY LTD.
HAIM TSUFF
Director
12 Haporzim Street, Petach Tikva, Israel
Manager of several companies
Citizen of Israel and the Netherlands
17
<PAGE> 19
SCHEDULE L
DIRECTORS AND EXECUTIVE OFFICERS
OF
YHK INVESTMENTS LIMITED PARTNERSHIP
General Partner
YHK General Managers, Ltd.
The Executive Officers of the General Partner are:
Not appointed yet.
Directors
Youval Ran
9 Barazani Street, Ramst-Aviv, Tel-Aviv, Israel
Co-General Manager of Israel Credit Lines Complementary Financial Services Ltd.
Haim Tsuff
12 Haporzim Street, Petach Tikva, Israel
Manager of several companies
Citizen of Israel and the Netherlands
Josef Tsuff
Pensioner
Tina Miamon-Arckens
38 Bilu Street, Hertzliya, Israel
Homemaker
Limited Partners
The limited partners of YHK are Israel Credit Lines Complementary Financial
Services Ltd. ("Complementary") and United Kingsway Ltd.
See Schedule F regarding Complementary.
See Schedule K regarding Kingsway.
18
