Barak: Israel considering Saudi peace plan By ARON HELLER

JERUSALEM (AP) -- Israeli leaders are seriously considering a dormant Saudi plan offering a comprehensive peace between Israel and the Arab world in exchange for lands captured during the 1967 war, Defense Minister Ehud Barak said Sunday.

Barak said it may be time to pursue an overall peace deal for the region since individual negotiations with Syria and the Palestinians have made little progress.

Barak said he has discussed the Saudi plan with Prime Minister-designate Tzipi Livni, who is in the process of forming a new Israeli government, and that Israel is considering a response.

Saudi Arabia first proposed the peace initiative in 2002, offering pan-Arab recognition of Israel in exchange for Israel's withdrawal from Arab lands captured in 1967 - the West Bank, Gaza Strip, east Jerusalem and the Golan Heights.

The 22-member Arab League endorsed the plan last year.