EXHIBIT B
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
01 December 1999
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The Securities Authority The Tel Aviv Stock Exchange The Registrar of Companies
22 Kanfei Nesharim St. 54 Ahad Ha'am St. 97 Yafo St.
Jerusalem 95464 Tel Aviv 65202 Jerusalem 91007
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Fax: 02-6513940 Fax: 03-5105379
Dear Sirs,
Re: KOOR INDUSTRIES LTD. (COMPANY NO. 52-001414-3)
IMMEDIATE REPORT NO. 43/99
Koor Industries Ltd. (Hereinafter: "Koor"), hereby gives notice as follows:
Yesterday evening, the authorized Board of Directors Committee of Koor,
decided to cooperate with the Israel Corporation Ltd., in a joint venture
whose shareholders capital will be up to US$ 100 million, in equal parts.
The joint venture will focus on investments in projects and high - tech
companies in the Internet, telecom and telecom operators in Israel and
abroad.
Koor and the Israel Cooperation are conducting negotiations with a suitable
candidate to manage the joint venture. The appointed manager will make use
of the experience and resources of the Koor Group and The Israel
Corporation Group.
Sincerely yours,
Adv. Shlomo Heller
Legal Counsel and Company Secretary
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
July 24, 2000
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<CAPTION>
<S> <C> <C>
The Securities Authority The Tel Aviv Stock Exchange The Registrar of Companies
22 Kanfei Nesharim St. 54 Ahad Ha'am St. 97 Yafo St.
Jerusalem 95464 Tel Aviv 65202 Jerusalem 91007
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</TABLE>
Fax: 02-6513940 Fax: 03-5105379
Dear Sirs,
RE: IMMEDIATE REPORT - KOOR INDUSTRIES LTD. (NO. 44/2000)
COMPANY NO. 52-001414-3
Further to Immediate Report (43/99) from December 1, 1999, attached hereto,
Koor Industries Ltd. (hereinafter: "Koor") announces that Koor and Israel
Corporation Ltd have decided to continue the cooperation between them in
investments in the field of communications in Israel and abroad, but
without creating a joint venture.
Yours sincerely,
Shlomo Heller, Adv.
