=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2003/06/02/f= inancial1020EDT0057.DTL ---------------------------------------------------------------------- Monday, June 2, 2003 (AP) Workers drop opposition to El Al privatization (06-02) 07:20 PDT (AP) -- JERUSALEM (Dow Jones/AP) -- Workers at El Al Israel Airlines Ltd. said Monday that they have dropped their opposition to the carrier's privatization after wresting better terms for acquiring a stake. The state agreed to let workers buy 10 percent of the shares at a 70 percent discount instead of a 30 percent discount, as originally planned, a workers representative said. In addition, the state has agreed to let them buy 5 percent more at a 40 percent discount, he said. Worker opposition had hung heavily over the plan to float 100 percent of El Al on the Tel Aviv Stock Exchange June 10. The carrier is to be sold in packages of shares, warrants and options, based on a valuation of $113 million. =20 ---------------------------------------------------------------------- Copyright 2003 AP