We consider mixed states of two qubits and show under which global unitary
operations their entanglement is maximized. This leads to a class of states
that is a generalization of the Bell states. Three measures of entanglemen
t are considered: entanglement of formation, negativity, and relative entro
py of entanglement. Surprisingly all states that maximize one measure also
maximize the; others. We give a complete characterization of these generali
zed Bell states and prove that these states for fixed eigenvalues are all e
quivalent under local unitary transformations. Furthermore we characterize
all nearly entangled states closest to the maximally mixed state and derive
a lower bound on the volume of separable mixed states.