Alliance confirms plan to sell shares

Tel Aviv, Israel -- US-based private equity concern

Warburg-Pincus LLC is negotiating to buy majority ownership of

Israel´s Alliance Tire Co. Ltd.

A spokesman for Alliance said New

York-based Warburg Pincus is discussing buying the 60-percent share of

the tyre maker owned by Fishman Holdings, a Tel Aviv-based venture with

holdings in the real estate, venture capital, retail, media and

industry.

New York-based Warburg-Pincus claims

investments of more than $20 billion, with holdings in industry,

energy, real estate, media, financial services and health care,

according to its Web site.

Alliance, based in Hadera, Israel, is the

world´s 50th-largest tyre maker. It specialises in farm, foresty and

other off-the-road tyres.