Potential hazards in the Israel Research Reactor-I installation are analyzed; the safeguards provided are considered, and the possible effects of a maximum credible accident on the surrounding population and area are evaluated. Events with very small probabilities of occurrence were assumed to be credible. Activity release to the surroundings during normal operation was found to be well within permissible levels. Following an assumed maximum credible accident, the radiation dose levels outside the controlled area would be within reasonable safe values. (auth)