TEL AVIV, Israel, Jan. 18, 2013 (GLOBE NEWSWIRE) -- Ampal-American Israel Corporation (NASDAQ: AMPL), a holdingcompany with experience in acquiring interests in variousbusinesses with emphasis in recent years on energy, chemical andrelated fields, announced today that by letter dated January 17,2013 the NASDAQ Listing Qualifications Hearings Panel hasdetermined to delist the Company's Class A Stock (the "Class AStock") from The NASDAQ Capital Market. As a result, trading of theClass A Stock will be suspended on NASDAQ effective at the open ofbusiness on Tuesday, January 22, 2013. The Company plans toappeal the determination to the NASDAQ Listing and Hearing ReviewCouncil. Accordingly, the Company's shares will not be delisteduntil the conclusion of the appeal process, which is expected totake several months. The Company's shares are expectedto trade on the OTCQB Market during the appeal process. It is alsoexpected that the Company's trading symbol will change to AMPLQ,effective with the open of the market on January 22, 2013. The Company filed a voluntary petition for Chapter 11reorganization in the U.S. Bankruptcy Court for the SouthernDistrict of New York on August 29, 2012, and a plan ofreorganization has been proposed by the creditor's committee. In connection with the proposed plan of reorganization and itsemergence from Chapter 11 bankruptcy, the Company intends to file anew listing application with NASDAQ for the listing of the Class AStock and for a series of preferred stock proposed to be issuedupon the Company's emergence from bankruptcy. About Ampal: Ampal and its subsidiaries acquire interests primarily inbusinesses located in the State of Israel or that areIsrael-related. Ampal is seeking opportunistic situations in avariety of industries, with a focus on energy, chemicals andrelated sectors. Ampal's goal is to develop or acquire majorityinterests in businesses that are profitable and generatesignificant free cash flow that Ampal can control. For moreinformation about Ampal please visit our web site at www.ampal.com. Safe Harbor Statement Certain information in this press releaseincludes forward-looking statements (within the meaning of Section27A of the Securities Act of 1933 and Section 21E of the SecuritiesExchange Act of 1934) and information relating to Ampal that arebased on the beliefs of management of Ampal as well as assumptionsmade by and information currently available to the management ofAmpal. When used in this press release, the words "anticipate,""believe," "estimate," "expect," "intend," "plan," and similarexpressions as they relate to Ampal or Ampal's management, identifyforward-looking statements. Such statements reflect the currentviews of Ampal with respect to future events or future financialperformance of Ampal, the outcome of which is subject to certainrisks and other factors which could cause actual results to differmaterially from those anticipated by the forward-lookingstatements, including among others, the economic and politicalconditions in Israel, the Middle East, including the situation inIraq and Egypt, and the global business and economic conditions inthe different sectors and markets where Ampal's portfolio companiesoperate. Should any of these risks or uncertainties materialize, orshould underlying assumptions prove incorrect, actual results oroutcome may vary from those described herein as anticipated,believed, estimated, expected, intended or planned. Subsequentwritten and oral forward-looking statements attributable to Ampalor persons acting on its behalf are expressly qualified in theirentirety by the cautionary statements in this paragraph. Pleaserefer to the Ampal's annual, quarterly and periodic reports on filewith the SEC for a more detailed discussion of these and otherrisks that could cause results to differ materially. Ampal assumesno obligation to update or revise any forward-lookingstatements.
CONTACT: FOR: AMPAL-AMERICAN ISRAEL CORPORATION CONTACT: Irit Eluz CFO - SVP Finance & Treasurer 1 866 447 8636 firstname.lastname@example.org FOR: KM - Investor Relations CONTACT: Roni Gavrielov 011-972-3-516-7620 email@example.com FOR: PM-PR Media consultants CONTACT: Zeev Feiner 011-972-50-790-7890 firstname.lastname@example.org