Mr. Ami Erel, President and Chief Executive Officer Mr. Ami Erel serves as President and Chief Executive Officer of Discount Investment Corporation Ltd. (DIC) as of June 1, 2001 (TASE\DISI). In addition, Mr. Erel serves as Chairman of the Board of Directors of Cellcom Israel Ltd. , Koor Industries Ltd. (TASE\ KOR) and NetVision Ltd. (TASE\NTSN). Mr. Erel also serves as a director of: Elron Electronic Industries Ltd. (TASE&NASDAQ\ELRN), Property and Building Corporation Ltd. (TASE\PTBL)Shufersal (TASE\SAE), Makhteshim Agan Industries Ltd. (TASE\MAIN) and as Chairman or director of other companies in the DIC and the Elron group.

Prior to that (1997-1999) he served as President and Chief Executive Officer of Bezeq, The Israel Telecommunications Corp. Ltd. (TASE\BEZQ); and as Chairman of the Board of Directors of PelePhone Communications Ltd. (1997-1998). Mr. Erel also serves as Chairman of the executive Committee, of Manufacturers Association of Israel (as of January 2005) while prior to that (2000-2004) he served as Chairman of the Board of Israel Association of Electronics and Information Industries. Mr. Erel holds a Bachelor of Science degree in electronic engineering from the Technion, the Israel Institute of Technology, in Haifa .