Israeli Prime Minister Barak Opens The Nasdaq Stock Market

The National Association of Securities Dealers, Inc. (NASD®), announced that Israeli Prime Minister and Defense Minister Ehud Barak opened The Nasdaq Stock Market® today during a visit to the Nasdaq MarketSiteSM in New York City. NASD Chairman and Chief Executive Officer Frank G. Zarb welcomed the Prime Minister and his delegation, who then listened to a description of the market by Nasdaq President Alfred R. Berkeley, III, and Nasdaq International President John T. Wall. Later, Zarb hosted a luncheon in honor of the Prime Minister at the World Trade Center, which was attended by New York financial leaders. Nasdaq® lists 96 Israeli companies-more companies than from any other country outside of North America-and the dollar value of equity trading in Israeli stocks will be approximately $44 billion in 1999. Nasdaq Israeli stocks are up 59.7 percent in 1999 through November 19. In 1999, ten Israeli companies have raised more than $1 billion on Nasdaq. Since 1995, 88 percent of all equity capital raised in the U.S. by Israeli companies has been on Nasdaq. The most recent Nasdaq listing from Israel was Partner Communications (October 27, 1999), which raised $525 million and listed with a market cap of $2.5 billion. "The peace process should, over time, reduce the heavy budgetary burden of defense spending," said Prime Minister and Defense Minister Barak. "Israel is quickly becoming a new Silicon Valley and the Israeli financial sector can serve as the new financial center for a peaceful Middle East." Commenting on the Prime Minister Barak's visit, Zarb said, "We are very pleased that Prime Minister Barak chose to honor Nasdaq by opening our market during his visit to New York City today. Israeli companies are a vital component of our market and are led by some of the most creative and dynamic management teams in any country in the world. We are grateful for this opportunity to continue to strengthen our mutual interests." Since its debut as the world's first electronic stock market, The Nasdaq Stock Market has been at the forefront of innovation, using technology to bring millions of investors together with the world's leading companies. On Nasdaq, trading is executed through an advanced computer and telecommunications network that serves as the model for stock markets worldwide. The Nasdaq Stock Market trades more shares per day and has a greater dollar volume of trades than any other U.S. equities market. It is also among the world's best regulated stock markets, employing the most sophisticated surveillance systems and regulatory specialists to protect investors and provide a fair and competitive trading environment. Nasdaq operates as a subsidiary of the NASD, the largest securities-industry, self-regulatory organization in the United States. For more information about Nasdaq, visit the Nasdaq Web site at http://www.nasdaq.com or the Nasdaq NewsroomSM at http://www.nasdaqnews.com.