EXHIBIT 1

                            ATTENTION ALL HOLDERS OF
                  INDUSTRIAL DEVELOPMENT BANK OF ISRAEL LIMITED
              7-1/2% REGISTERED SUBORDINATED CAPITAL NOTES DUE 1998
                                CUSIP 456056AB6*

This is to inform you that the extension of the maturity date for Industrial
Development Bank of Israel Limited 7-1/2% Registered Subordinated Capital Notes
due 1998 will expire on December 31, 2007. On this date, the semi-annual
interest at the rate of 3.75% will also be paid. The record date for the
interest payment is December 14, 2007.

In order to redeem your Note(s), the Industrial Development Bank of Israel
Limited requires that you send a written demand for payment of your Note(s) and
a W-9 form not less than 30 days prior to the maturity of the Note(s). Please be
advised that the terms of this Note provide that the maturity date is
automatically extended for an additional 18 months for Notes that are not
presented for redemption as specified herein prior to November 30, 2007. If you
want to receive full value of the Note(s), you should present the original
Note(s), your written demand for payment of your Note(s) and W-9 form to The
Bank of New York Mellon (as successor in interest to JPMorgan Chase Bank, N.A)
between November 1, 2007 and November 30, 2007.

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              BY MAIL                                      BY COURIER
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The Bank of New York Mellon             The Bank of New York Mellon
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Institutional Trust Services            Institutional Trust Services
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P.O. Box 2320                           2001 Bryan Street - 9th Floor
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Dallas, Texas 75221-2320                Dallas, Texas 75201
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If you have any questions, please contact The Bank of New York Mellon at
800-275-2048.

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* This CUSIP number has been assigned to this issue by an organization not
affiliated with the Trustee and is included solely for the convenience of the
Note holders. Neither the Company nor the Trustee shall be responsible for the
selection use of this CUSIP number, nor is any representation made as to its
correctness on the Notes or as indicated in any notice.