HADERA, Israel, Aug. 30 /PRNewswire-FirstCall/ -- As previously announced on August 17, 2005, American Israeli Paper Mills Ltd. (ASE:AIP) declared a cash dividend in the amount of NIS 12.50 per share payable on September 13, 2005 to shareholders of record on August 30, 2005. The exact dollar payout was to be based on the rate of exchange of the NIS in relation to the US Dollar in effect on August 30, 2005, the record date, and has now been determined to be $2.7418 per share before a withholding tax of 25% at the source. DATASOURCE: American Israeli Paper Mills Ltd. CONTACT: Philip Y. Sardoff, +1-908-686-7500, for American Israeli Paper Mills Ltd.

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