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Ampal-American Israel Corporation Reports 2010 Fourth Quarter And Year End Results

Ampal-American Israel Corporation (Nasdaq:AMPL), a holding company with experience in acquiring interests in various businesses with emphasis in recent years on energy and related fields, today reported its financial results for the year ended December 31, 2010.

For the year ended December 31, 2010 revenues were $505.0 million, compared to revenues of $425.8 million for the same period in 2009.

For the year ended December 31, 2010, Ampal recorded a consolidated net loss of $(44.7) million, or $(0.80) per diluted share, as compared to a net loss of $(19.5) million, or $(0.35) for the same period in 2009.

The net loss for the year includes the unfavorable impact of approximately ($24.1) million due to the effect of a translation loss resulting from the depreciation of the U.S. Dollar against the New Israeli Shekel and the increase of the Israeli Consumer Price Index. Also included are accounting losses totaling approximately ($31.4) million from the Price Purchase Allocation and intangible asset amortizations of Ampal and Ampal's holdings. Excluding these items, there was a gain of approximately $10.8 million for the year 1.

Ampal ended the year with total assets of $1,397.7 million and shareholders' equity of $185.2 million, as compared to $960.0 million and $216.6 million respectively, at December 31, 2009.

For the fourth quarter ended December 31, 2010, Ampal reported revenues of $138.3 million, as compared to revenues of $90.6 million for the fourth quarter ended December 31, 2009.

For the fourth quarter ended December 31, 2010, Ampal reported a consolidated net loss of $(9.0) million, or $(0.16) per diluted share, as compared to a net loss of $(0.2) million, or $(0.00) per diluted share for the fourth quarter ended December 31, 2009.

The net loss for the quarter includes the unfavorable impact of approximately ($15.1) million due to the effect of a translation loss resulting from the depreciation of the U.S. Dollar against the New Israeli Shekel and the increase of the Israeli Consumer Price Index. This number also includes the accounting loss totaling approximately ($1.4) million from the Price Purchase Allocation and intangible asset amortizations of Ampal and Ampal's holdings. Excluding these items, there was a gain of approximately $7.5 million for the three months ended December 31, 2010.

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