Koor Industries Announces Results of Annual General Meeting and Availability of 2005 Annual Financial Results

TEL AVIV Israel October 3 /PRNewswire-FirstCall/ -- Koor Industries (NYSE: KOR) a leading Israeli holding Company announced the resolutions of the Company's 2005 Annual General Meeting held in the Company's offices on September 28 2006.

Resolutions
1. To reappoint each of the following as a member of the Board of Directors of the Company (the "Board of Directors"): (1) Nochi Dankner; (2) Avraham (Avi) Fischer; (3) Isaac Manor; (4) Zvi Livnat; (5) Ami Erel; (6) Jonathan Kolber; (7) Lior Hannes; (8) Rafi Bisker; and (9) Gideon Lahav.
2. To appoint Mr. Jonathan Kolber as the Chairman of the Board of Directors.
3. To reappoint Somekh Chaikin a member of KPMG International as the Company's auditors and to authorize the Board of Directors to determine their audit fees.
4. To appoint Dr. Ayelet Ben Ezer and Mr. Shlomo Risman to serve as External Directors (as such term is defined under Israeli Companies Law-1999) on the Board of Directors.
5. To amend the provisions of the Articles of Association concerning indemnification of directors and officers on condition that any amount paid shall not exceed 25% of the Company's shareholders' equity according to the latest Company financial statements quarterly or annual as published near the date of the payment of the indemnification. »  Koor Industries Announces Results of Annual General Meeting and Availability of 2005 Annual Financial Results