Cellcom Israel Announces Negotiations Involving 4G Radio Network Sharing

Cellcom Israel

announced today that it is conducting negotiations towards a 4G radio network sharing with Pelephone Communications Ltd., or Pelephone, and Golan Telecom Ltd. (both Israeli cellular operators), and towards sharing of passive elements of cell sites for existing networks with Pelephone. At this stage there is no assurance that such negotiations shall mature into an agreement, nor as to the contents, terms and timing of such agreement which require further negotiations and approval by the parties' authorized institutions. Further, such an agreement, if executed, will be subject to regulatory approvals and there is no assurance that such approvals will be granted. Forward looking statement The information included in this press release contains, or may be deemed to contain, forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995 and the Israeli Securities Law, 1968). Said forward-looking statements, relating to the execution of such agreement are subject to uncertainties and assumptions about the conclusion of the negotiations and the receipt of necessary approvals. The actual conclusion of the negotiations could lead to materially different outcome than that set forth above. About