TEL AVIV, Israel, December 4 /PRNewswire-FirstCall/ -- Koor Industries Ltd. (NYSE:KOR) ("Koor" or "the Company"), a leading Israeli holding company, announced today that it has signed an agreement to sell the remainder of its holdings (approximately 1.9%) in Elbit Systems Ltd. (NASDAQ: ESLTNASDAQ:TASE:NASDAQ:ESLT) ("Elbit Systems") in a block-trade for the total consideration of approximately NIS 112.4 million. The closing date of the transaction is due on December 5, 2006. Koor expects to record a capital gain of approximately NIS 23.8 million as a result of the transaction. About Koor Koor Industries is a leading Israeli holding company, focusing on high-growth, internationally oriented, Israeli companies. Koor actively invests in agrochemicals through Makhteshim Agan Industries; in telecommunications through its holdings in ECI Telecom, ECTel and Telrad Networks; and in venture capital through Koor Corporate Venture Capital. Koor's ADSs (American Depositary Shares) are traded on the New York Stock Exchange (NYSE:KOR) and Koor's Ordinary Shares are traded on the Tel Aviv Stock Exchange (TASE:KOR). For additional information on Koor please access our website http://www.koor.com/. Company contact IR Contacts Avital Lev, CPA, Investor Relations Ehud Helft/Kenny Green Koor Industries Ltd. GK Investor Relations Tel: +972-3-607-5111 Tel: +1-866-704-6710 Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, international market conditions, domestic political factors, technological developments, ability to finance operations, and other factors which are detailed in the Company's SEC filings. DATASOURCE: Koor Industries Ltd CONTACT: Company contact: Avital Lev, CPA, Investor Relations, Koor Industries Ltd., Tel: +972-3-607-5111, IR Contacts, Ehud Helft/Kenny Green, GK Investor Relations, Tel: +1-866-704-6710

Copyright