New York City Comptroller William C. Thompson, Jr. announced today on behalf of the New York City Employees� Retirement System (NYCERS) the purchase of $15 million of State of Israel fixed rate bonds. The bonds, which were purchased from the Development Corporation for Israel, have a final maturity of 2 years.

�The purchase of these bonds will strengthen and diversify the NYCERS portfolio, assist the State of Israel, and demonstrate our continued confidence in Israel�s economy,� Thompson said.� �I am proud that the New York City pension funds have been able to serve the best financial interests of their members while furthering a tradition of support for a great ally. Friends and supporters of Israel in the United States helped create the economic foundation that has allowed Israel to grow into a strong and vibrant nation.�

Thompson will formally announce the acquisition at the State of Israel Bonds Testimonial Dinner tonight at 7:30 PM at the Grand Hyatt New York at Grand Central Terminal.

This is the third direct purchase of bonds from the State of Israel by a New York City pension fund system. In 2003, the Teacher� Retirement System (TRS) purchased $5 million in State of Israel bonds. TRS made a second $5 million purchase in 2004.

Public Advocate Betsy Gotbaum said: �Having visited Israel in May 2008 as a NYCERS trustee to investigate current and potential investments, I saw first-hand Israel�s strong economy and growing industries. When I met with leaders of the Israeli political and business sectors and saw the success and stability of the state of Israel, I knew that increasing New York�s investment there would be wise. As a fiduciary of NYCERS and a passionate supporter of Israel, I fully support the purchase of these bonds from the Development Corporation for Israel.�

Bronx Borough President Adolfo Carrion said: �This investment is a solid addition to the NYCERS portfolio. It�s always a good day when we can make a prudent, smart investment that also supports the State of Israel.�

Israel Bonds President and CEO Joshua Matza, a former Israeli Cabinet Minister and member of the Knesset, Israel�s parliament, said:� �Once again, Mr. Thompson has demonstrated his abiding confidence in the growth and development of Israel�s economy and his personal commitment to America�s best friend and strongest ally in the Middle East.��

Besides Thompson, the NYCERS trustees are: New York City Finance Commissioner Martha E. Stark (Chair); New York City Public Advocate Betsy Gotbaum; Borough Presidents Scott Stringer (Manhattan), Helen Marshall (Queens), Marty Markowitz (Brooklyn), Adolfo Carrion (Bronx), and James Molinaro (Staten Island); Lillian Roberts, Executive Director, District Council 37, AFSCME; Roger Toussaint, President Transport Workers Union Local 100; and, Gregory Floyd, President, International Brotherhood of Teamsters, Local 237.

(Moshe Altusky – YWN NYC)