Egyptian President Hosni Mubarak met separately with Israeli Foreign Minister Moshe Arens and Soviet Foreign Minister Eduard Shevardnadze, who insisted that an international peace conference is the only way to bring peace to the Middle East.

Shevardnadze, who on Wednesday is to meet directly with Arens, said after a 90-minute meeting Monday with Mubarak that he had relayed a message from Soviet leader Mikhail Gorbachev on "contemporary global and regional issues.""The emphasis was, of course, on means of finding a peaceful settlement in the Middle East," Shevardnadze said.

Shevardnadze, who is on the third leg of a Middle East tour - the first by a Soviet foreign minister in nearly 15 years - supports a peace conference that includes the five permanent members of the U.N. Security Council and the parties to the conflict, including the Palestine Liberation Organization.