Jewish Post, Indianapolis, Marion County, 15 January 2003 — Page 5

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Jubilee (Series A) Issue Bond Fixed annual interest rate for the life of the bond is determined at the beginning of the sales period. Minimum subscription: $25,000. Matures: 5 years from issue date. Jubilee (Series B) Issue Bond Fixed annual interest rate for the life of the bond is determined at the beginning of the sales period Minimum subscription: $25,000. Matures: 10 years from issue date. LIBOR Floating Rate Issue (LFRI) Bond Rate based on fixed number of basis points above the applicable 6-month LIBOR rate, which is adjusted quarterly. Minimum subscription: $5,000 ($3,000 or $3,500 for IRAs only). Matures: 10 years from issue date. Zero Coupon Bond The purchase price and effective yield to maturity are determined at the beginning of the Sales Period in which the bond is purchased. Matures at $6,000 10 years from issue date (first day of the month following the month in which subscription is accepted by Fiscal Agent).

Development Issue Current Income Bond 4 00% annual interest rate $500 and increments of $500 Matures 15 years from issue date Development Issue Savings Bond $500 and increments of $500. Matures 15 years from issue date at 180% of issue amount, resulting in an effective yield to maturity of approximately 4 00%. Chai Bond Purchase price: Variable. Matures in 5 years from issue date at $180. Mon-transferable. Not eligible for early redemption May only be purchased for/registered to an (only one) individual. MATURED BONDS: After maturity, bonds no longer earn interest. ISSUES SUBJECT TO AVAILABILITY. Ihis is not an ottering. *tnch can Ire matU' only try ihosimkIus Road it carvlulty tin torn investing Member HA SO SiT’C

This is not an offering, which can be made only by prospectus Read it carefully before investing. Member NASD. SI IK' Development Corporation for Israel/State of Israel Bonds 3901 West 86th Street, Suite 300 • Indianapolis, IN 46268 317-876-7074 • 317-876-7187 www.i5raelbonds.com