>http://www.cnn.com/2002/WORLD/meast/03/27/arab.league/index.html
>
>Saudi Crown Prince Abdullah called Wednesday for the Arab world to establish "normal relations" and security for Israel in exchange for Israeli withdrawal from occupied territories, allowing the "return of refugees" and the recognition of an independent Palestinian state with East Jerusalem as its capital.
>
>...
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>Abdullah said if the Israeli government accepts his proposal, Israelis will find that Arabs in the region will quickly accept their right to live in security.
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>"I would further say to the Israeli people that if their government abandons the policy of force and oppression and embraces true peace, we will not hesitate to accept the right of the Israeli people to live in security with the people of the region," he said.

Huh? Did not find a word in the proposals about offering a land.
From CNN:

"I suggest the Arab League proposes a collective Arab project to the Security Council, a project that is based on two basic issues: normal relations and the security of Israel in exchange for a full Israeli withdrawal from all occupied Arab lands, recognition of an independent Palestinian state with noble Jerusalem as its capital and the return of the refugees."


"Saudi proposal:
Israel would complete a "full withdrawal from all occupied Arab territories."

Israel would recognize "an independent Palestinian state with al-Quds al-Shareef (East Jerusalem) as its capital."

Israel would allow "the return of refugees."

Arab nations would establish "normal relations" and security for Israel."