EXHIBIT A
KOOR INDUSTRIES LTD.
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OFFICE OF LEGAL COUNSEL
21 Ha'arba'a Street
Tel Aviv 64739
Israel
Tel: 972-3-6238420
Fax: 972-3-6238425
October 11, 2000
The Securities Authority The Tel Aviv Stock The Registrar of Companies
22 Kanfei Nesharim St. Exchange 97 Yafo St.
Jerusalem 95464 54 Ahad Ha'am St. Jerusalem 91007
Tel Aviv 65202
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Fax: 02-6513940 Fax: 03-5105379
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Dear Sirs,
Re: Immediate Report (NO. 59/2000)
Koor Industries Ltd. (Company No. 52-001414-3)
Koor Industries Ltd. (hereinafter: "Koor") hereby announces as follows:
Yesterday evening Koor Properties Ltd. - a wholly owned subsidiary of Koor -
(hereinafter: "Koor Properties") signed a set of agreements with various
companies of the Delek Group (hereinafter: "The Buyers"), regarding the rights
of Koor Properties in various realestate properties totaling approximately
135,000 square meter, which are located along the shore in the part connecting
between Tel Aviv and Jaffa and also by Moshav Nir Zvi. These are realestate
properties with various plannings - agriculture, industrial and residential.
Also, Koor Properties commited to build for the Buyers on part of this
realestate a Logistic Center totalling approximately 10,000 square meter.
The total return that will be received by Koor Properties for its rights on the
properties and the building of the Logistic Center is approximately 20.8 million
dollars. The capital profit, after tax deduction, which will be registered by
Koor as a result of these transactions will be approximately 5 million dollars.
Yours Sincerely,
Shlomo Heller, Adv.
