Edgar Filing: AMPAL-AMERICAN ISRAEL CORP

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Merhav (m.n.f.) LTD

2. Issuer Name and Ticker or Trading Symbol
AMPAL-AMERICAN ISRAEL CORP [AMPL]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

33 HAVAZELET HASHARON STREET

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2008

(Street)

HERZLIYA, ISRAEL, L3 46105

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Stock	06/23/2008		P⁽¹⁾		100	A	$ 4.65	4,536,697 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		200	A	$ 4.67	4,536,897 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		200	A	$ 4.69	4,537,097 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		620	A	$ 4.75	4,537,717 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		256	A	$ 4.76	4,537,973 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		980	A	$ 4.77	4,538,953 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		300	A	$ 4.79	4,539,253 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		3,498	A	$ 4.8	4,542,751 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		1,516	A	$ 4.81	4,544,267 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		850	A	$ 4.82	4,545,117 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		2,897	A	$ 4.83	4,548,014 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		600	A	$ 4.84	4,548,614 ⁽²⁾	D
Class A Stock	06/23/2008		P⁽¹⁾		200	A	$ 4.86	4,548,814 ⁽²⁾	D
Class A Stock	06/24/2008		P⁽¹⁾		100	A	$ 4.78	4,548,914 ⁽²⁾	D
Class A Stock	06/24/2008		P⁽¹⁾		1,144	A	$ 4.79	4,550,058 ⁽²⁾	D
Class A Stock	06/24/2008		P⁽¹⁾		3,400	A	$ 4.8	4,553,458 ⁽²⁾	D
Class A Stock	06/24/2008		P⁽¹⁾		900	A	$ 4.81	4,554,358 ⁽²⁾	D
Class A Stock	06/24/2008		P⁽¹⁾		100	A	$ 4.83	4,554,458 ⁽²⁾	D
Class A Stock	06/24/2008		P⁽¹⁾		400	A	$ 4.85	4,554,858 ⁽²⁾	D
Class A Stock	06/24/2008		P⁽³⁾		30	A	$ 4.83 ⁽³⁾	4,554,888 ⁽²⁾	D
Class A Stock	06/24/2008		P⁽³⁾		1,287	A	$ 4.81 ⁽³⁾	4,556,175 ⁽²⁾	D
Class A Stock	06/24/2008		P⁽³⁾		765	A	$ 4.82 ⁽³⁾	4,556,940 ⁽²⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Merhav (m.n.f.) LTD 33 HAVAZELET HASHARON STREET HERZLIYA, ISRAEL, L3 46105		X
MAIMAN YOSEF A 33 HAVAZELET HASHARON ST HERZLIYA ISRAEL, L3 46105	X	X	President & CEO

Signatures

/s/ Merhav (M.N.F.) Limited By: Yosef A. Maiman, President & CEO		06/25/2008
^**Signature of Reporting Person		Date
/s/ Yosef A. Maiman		06/25/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These purchases were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 13, 2008.
(2)	The reporting person, an Israeli corporation, is 100% owned by Yosef A. Maiman. Mr. Maiman is a director, the Chairman of the Board, President and Chief Executive Officer of the Issuer. In addition to the shares reported herein, Mr. Maiman indirectly owns (i) 18,850,153 shares through De Majorca Holdings Ltd. ("De Majorca"), an Israeli corporation of which 100% of the economic shares and one-fourth of the voting shares are owned by Mr. Maiman, and (ii) 9,650,132 shares through Di-Rapallo Holdings Ltd. ("Di-Rapallo"), an Israeli corporation of which 100% of the economic shares and one-fourth of the voting shares are owned by Mr. Maiman. In addition, Mr. Maiman holds an option to acquire the remaining three-fourths of the voting shares of both Di-Rapallo and De Majorca (which are currently owned by Ohad Maiman, Yoav Maiman and Noa Maiman, the son, son and daughter, respectively, of Mr. Maiman).
(3)	These purchases were effected on the Tel Aviv Stock Exchange in New Israeli Shekels for per share purchase prices of NIS 16.28, NIS 16.22, and NIS 16.25, which per share purchase prices have been reported on this Form 4 as $4.83, $4.81, and $4.82, respectively, based on an exchange rate of 3.373.
Remarks: Exhibit List: Exhibit 99 - Joint Filer Information.

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