Matav Participates in Closing of Share Buyback of Partner

Matav Participates in Closing of Share Buyback of Partner

Israeli Cable Companies Receive Extension for Merger Approval by the Israeli Controller of Restrictive Business Practices

NETANYA, Israel, April 20/PRNewswire-FirstCall/ -- Matav-Cable Systems Media Ltd. (Nasdaq & TASE: MATV) (hereinafter:
"Matav") announced today it has exercised its option to participate in the
share buyback of Partner Communications Company Ltd. (NASDAQ and TASE: PTNR;
LSE: PCCD) ("Partner"), together with Elbit Ltd., Eurocom Communications
Limited and Polar Communications Limited. At the closing of the transaction,
which occurred today, Matav sold to Partner 7,783,444 ordinary shares of
Partner for total consideration of approximately NIS 250 million. Matav
expects to recognize on this sale a capital gain (net of tax impact) of
approximately NIS 115 million. Matav now holds 1,884,926 ordinary shares
of Partner, almost all of which are subject to transfer restrictions under
Partner's communications license.

About Matav:

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

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, and (6) 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, Counsel
Matav-Cable Systems Media Ltd.
Tel.: +972-9-860-2261

Ayelet Shiloni
Integrated Investor Relations
Tel.:+1-866-447-8633
Tel:+972-506883-336
ayelet@integratedir.com

Source: Matav - Cable Systems Media Ltd.

Contacts: Ori Gur Arieh, Counsel, Matav-Cable Systems Media Ltd., Tel.: +972-9-860-2261; Ayelet Shiloni, Integrated Investor Relations, Tel.:+1-866-447-8633, Tel:+972-506883-336, ayelet@integratedir.com

-------
Profile: intent