Matav to Delist Voluntarily From NASDAQ and Terminate ADR Program

Matav to Delist Voluntarily From NASDAQ and Terminate ADR Program

NETANYA, Israel, February 24/PRNewswire-FirstCall/ -- Matav-Cable Systems Media Ltd. (Nasdaq: MATV; TASE: MATV) announced today
that it intends to delist voluntarily from the Nasdaq National Market and to
terminate its American Depositary Receipt (ADR) program, both expected to
take effect in a few months. Concurrently with delisting from Nasdaq, Matav
intends to file a Form 15 with the U.S. Securities and Exchange Commission
(SEC) to terminate the registration of its ADRs and Ordinary Shares, thereby
suspending its obligation to file annual and other reports with the SEC.



Matav's plan to delist from Nasdaq and deregister its ADRs was made after
careful consideration by its Board of Directors of various factors, including
the following:



- the limited number of Matav's U.S. holders of record;

- the low trade volume of Matav's shares on Nasdaq and the fact that the
vast majority of Matav's shareholders have chosen to trade the shares
on the Tel Aviv Stock Exchange (TASE);

- the high costs associated with being a "reporting company" under the
U.S. securities laws, including costs arising from compliance with the
provisions of the Sarbanes-Oxley Act of 2002 and Nasdaq rules; and

- Matav's shares will continue to trade in the TASE and Matav shall
continue to make public reports in accordance with the Israeli
securities laws and regulations.


Additional details of the plan of delisting, including the relevant dates
and information to holders of ADR, are expected to be announced once such
details become available.



About Matav:



Matav is one of Israel's three cable television providers, serving
roughly 25 percent of the population. Matav's current investments include
5.25% of Partner Communications Ltd., a GSM mobile phone company and 10.0% of
Barak I.T.C. (1995) Ltd., one of the three international telephony providers
in Israel.



IMPORTANT NOTICE:



This press release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements that are based on various
assumptions (some of which are beyond Matav's control) may be identified by
the use of forward-looking terminology, such as "may", "can be", "will",
"expects", "anticipates", "intends", "believes", "projects", "potential",
"are optimistic", "view" and similar words and phrases. Actual results could
differ materially from those set forth in forward-looking statements due to a
variety of factors, including but not limited to (1) changes in technology
and market requirements, (2) decline in demand for the company's products,
(3) inability to timely develop and introduce new technologies, products and
applications, (4) loss of market share and pressure on pricing resulting from
competition, (5) uncertainty as to the completion of acquisition of new
businesses or operations and integration thereof with Matav's business, (6)
uncertainty of outcome of class action litigation, and (7) the other risk
factors detailed in Matav's most recent annual report and other filings with
the US Securities and Exchange Commission. Matav undertakes no obligation to
publicly release any revisions to these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.



Contacts:

Ori Gur Arieh, General Counsel
Matav-Cable Systems Media Ltd.
Tel.: +972-9-860-2261

Ayelet Shiloni
Integrated Investor Relations
Tel.:+1-866-447-8633
Tel: +972-6883-336
ayelet@integratedir.com





Source: Matav - Cable Systems Media Ltd.

Ori Gur Arieh, General Counsel, Matav-Cable Systems Media Ltd., Tel.: +972-9-860-2261; Ayelet Shiloni, Integrated Investor Relations, Tel.: +1-866-447-8633, Tel: +972-6883-336, ayelet@integratedir.com


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