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<SEC-DOCUMENT>0001119083-08-000005.txt : 20080604
<SEC-HEADER>0001119083-08-000005.hdr.sgml : 20080604
<ACCEPTANCE-DATETIME>20080604071822
ACCESSION NUMBER:		0001119083-08-000005
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080604
FILED AS OF DATE:		20080604
DATE AS OF CHANGE:		20080604

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MIND CTI LTD
		CENTRAL INDEX KEY:			0001119083
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31215
		FILM NUMBER:		08879169

	BUSINESS ADDRESS:	
		STREET 1:		INDUSTRIAL PARK BUILDING 7
		CITY:			YOQNEAM ILIT ISRAEL
		STATE:			L3
		ZIP:			20692
		BUSINESS PHONE:		97249936666

	MAIL ADDRESS:	
		STREET 1:		PO BOX 144
		CITY:			YOQNEAM ILIT ISRAEL
		ZIP:			20692
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>mindcti2008_0406.htm
<TEXT>
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	<title> MIND CTI LTD (Form: 6-K, 06/04/2008)</title>
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<p>

<font size="5">
	<strong><center>FORM 6-K</center></strong>
</font>
<p></p>
<p>
<font size="5">
	<strong><center>SECURITIES AND EXCHANGE COMMISSION</center></strong>
</font>
<p></p>
<font size="4">
	<center><strong>Washington, D.C.
20549</strong>  </center>
</font>
<p></p>
<p>
<strong><center>Report of Foreign Private Issuer</center></strong>
<p>

<center><strong>Pursuant to Rule 13a-16 or 15d-16
of</strong>      </center>
<center><strong>the Securities Exchange Act of
1934</strong>     </center>
<p>

<strong><center>
  For the month of June, 2008
</center>
</strong>
<p>
<strong><center>
Commission File Number: 000-31215
</center>
</strong>
<p>
<center>
	<font size="5"><strong>MIND C.T.I. LTD.</strong></font>
</center>
<p></p>
<center>
(Translation of Registrant's Name into English)
</center>
<p>

<center><strong>
	Industrial Park, Building 7, P.O.Box 144, Yoqneam 20692, Israel</strong>
</center>
<center>
	(Address of Principal Executive Offices)
</center>
<p>

<center>
	Indicate by check mark whether the registrant files or will file annual
</center>
<center>
	reports under cover Form 20-F or Form 40-F:
</center>
<p>

<center>Form 20-F [X] Form 40-F [ ]</center>
<p>
<center>
	Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): N/A
</center>
<p>
<center>
	Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): N/A
</center>
<p>

<center>
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
	<br>
	Yes [ ] No  [X]
</center>
<p>

<center>
	If "Yes" is marked, indicate below the file number assigned to the registrant
	in connection with Rule 12g3-2(b): 82-N/A.
</center>
<p>
<p>
<strong><center>INCORPORATION BY REFERENCE</center></strong>
<p>
<center>
           Exhibit 1 to this Report on Form 6-K&nbsp;is hereby incorporated by reference into: (i) the Registrant's Registration Statement on Form S-8, Registration No. 333-117054; (ii) the Registrant's Registration Statement on Form S-8, Registration No. 333-100804; and (iii) the Registrant's Registration Statement on Form S-8, Registration No. 333-54632.
</center>
<p>
<p>
<strong><center>CONTENTS</center></strong>
<p>
<center>This report on Form 6-K of the registrant consists of the following document, which is attached hereto and incorporated by reference herein:
<br>1. Press Release:&nbsp;MIND CTI Updates on Company Held Auction Rate Securities. Dated June 3, 2008.&nbsp;</center>
<p>
<p>
<strong><center>SIGNATURES</center></strong>
<p>
<center>
Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
</center>
<p>Date: June 4, 2008
<p>
<table width="100%" cellpadding="0" cellspacing="0">
	<tr>
	<td valign="bottom" width="50%"></td>
	<td>MIND C.T.I. LTD. <br><br></td></tr><tr><td></td><td>
	By: /s/ Monica Eisinger<br>
	Name: Monica Eisinger<br>
	===================<br>
     	Title: Chairperson of the Board of
	Directors, President and Chief Executive Officer
	</td>
	</tr>
</table>
<p align="center"><strong>EXHIBIT INDEX</strong></p>
<table cellpadding="2">
	<tr><td width="150">Exhibit Number</td><td>Description of Exhibit</td></tr>
	<tr><td align="right" valign="top">1.</td><td>MIND CTI Updates on Company Held Auction Rate Securities. Dated June 3, 2008.</td>
	</tr>
</table>
<p>

<hr width="75%" color="#999999" noshade size=2>
<!-- -------------------------------------------------------------------------- -->
<p>
<center>
Exhibit 1<br>
</center>
<center><h1><b>MIND CTI Updates on Company Held Auction Rate Securities</b></h1></center>
<p><b>Yoqneam, Israel, June 3, 2008 </b> - MIND C.T.I. LTD. (NasdaqGM:MNDO), a leading provider of convergent end-to-end billing and customer care product based solutions for tier 2 and tier 3 carriers worldwide, today announced an update on its auction rate securities rating.</p>

<p>As previously announced, as of March 31, 2008, we have a total of $20.3 million invested in asset backed auction rate securities called "Mantoloking CDO".  While the liquidity of these investments has been significantly impacted by market conditions, we continue to receive interest payments every month, lately of around 3.4% per year. We are not able to predict whether conditions in the market for these securities will worsen or improve.</p>

<p>Recently we were advised that the Mantoloking CDO #564616AB6 has been downgraded to Ba1 by Moody's and on CreditWatch with negative implications.  The security remains rated BBB by S&amp;P.</p>

<p>As previously announced, we planned to complete an independent valuation of this security in the second quarter, prior to the publication of our audited financial statements. We have almost completed this process and we expect to file the full 2007 financials and the year report as requested, by June 30 2008.</p>

<p>As previously announced, on February 20, 2008, we filed a Statement of Claim with the Financial Industry Regulatory Authority and commenced an arbitration against the international bank and certain employees thereof that invested these funds on behalf of the Company.   We intend to pursue the arbitration vigorously.  The arbitration, however, has just begun and no predictions of possible outcomes can be made at this time.</p>

<p><b>About MIND</b><br>MIND CTI Ltd. is a leading provider of convergent prepaid and postpaid end-to-end billing and customer care solutions for Wireless, Wireline, VoIP and Quad-play carriers worldwide. A global company, with over ten years of experience in providing solutions to carriers, MIND operates from offices in Europe, Israel and the United States, serving customers in more than 40 countries around the world. For more information, visit MIND at: www.mindcti.com.</p>

<p><font size="2">Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's filings with the United States Securities Exchange Commission.  The Company does not undertake to update any forward-looking information.</p></FONT>
<p><b>For more information please contact:</b>
<br>Andrea Dray
<br>MIND CTI Ltd.
<br>Tel: +972-4-993-6666<br>investor@mindcti.com<br></p></FONT>
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