Matav to Delay Termination of NASDAQ Listing and ADR Program

Matav to Delay Termination of NASDAQ Listing and ADR Program

NETANYA, Israel, May 26/PRNewswire-FirstCall/ -- Matav-Cable Systems Media Ltd. (NASDAQ: MATV, TASE: MATV)
announced today that it is delaying the implementation of its previously
announced plan to terminate its SEC registration, NASDAQ listing and its
American Depositary Receipt (ADR) program. The board of directors of Matav
will re-examine the timing of such termination in the next few months.

Matav plans to file its annual report on Form 20-F with the
SEC for the year ended December 31, 2004 and continue to observe all of its
current legal and regulatory requirements until a final decision is made with
respect to its public company status in the U.S.

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% 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, 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, General 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.

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: +972-506883-336, ayelet@integratedir.com

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