Vice Prime Minister Shimon Peres Announces the Establishment of the First
University in the Galilee Region; Businessman Arnon Milchan Donates 100
Million Dollars to Establish It

Jill Marie Reinach Monday, 28 March, 2005

Vice Prime Minister Shimon Peres announced today the donation of one hundred
million dollars by U.S. businessman Arnon Milchan to establish the first
university in the Galilee region. Peres, whose mandate includes the
development of the Negev and Galilee regions, added that the university
would be built in Carmiel.

During the press conference Vice Prime Minister Peres convened today at the
Knesset together with Minister of Finance Benjamin Netanyahu, Minister of
Education Limor Livnat, Deputy Minister Orit Noked, and businessman Arnon
Milchan, Peres stated, "The establishment of the University in the Galilee
will significantly contribute to the strengthening and development of the
educational, cultural and economic life of the Galilee region, much in the
same way that the Ben Gurion university impacted the Negev region."

Arnon Milchan said, 'I am proud to contribute to such an important
enterprise as a University in Israel's Galilee region that will nurture and
promote the education of the next generation of Israeli leaders in their
fields. The University's establishment in a region such as the Galilee,
whose nature embraces initiative and diversity, rendered this location a
perfect fit for this enterprise."

The university, to be located in Carmiel, is slated to include the six
regional campuses that exist in the Galilee region. In the future, the
campuses will each focus on related specialties.

Israeli Finance Minister Benjamin Netanyahu thanked Milchan, and noted that
his Ministry intended to assist in this very important and Zionist
project's success.

Education Minister Limor Livnat also thanked Milchan for his charitable
contribution and pledged her assistance as well in facilitating this
enterprise. Livnat praised the fact that Vice Prime Minister Peres assembled
this project in such a short amount of time since his becoming Vice Prime
Minister only a few months ago.