Partner Communications Notes the Closing of the Transaction between Hutchison Telecom and Scailex

* Reuters is not responsible for the content in this press release.

Thu Oct 29, 2009 5:40am EDT

ROSH HA'AYIN, Israel--(Business Wire)--
Partner Communications Company Ltd. ("Partner" or the "Company")
(NASDAQ:PTNR)(TASE:PTNR), a leading Israeli mobile communications operator,
notes the closing of the transaction between Advent Investments Pte Ltd.
("Advent") a wholly-owned subsidiary of Hutchison Telecommunications
International Limited ("Hutchison Telecom") and Scailex Corporation Ltd.
("Scailex"), an Israeli corporation listed on the Tel Aviv Stock Exchange,
pursuant to which Advent sold to Scailex its entire 51.2 % equity interest in
Partner for a consideration of approximately NIS 5.3 billion, which represents
approximately NIS 67 per Partner share. In parallel to the closing of the
transaction, and as a result of various subsequent transactions, Scailex and its
affiliates hold approximately 45% of Partner's outstanding shares. 

Following the completion of the transaction, Advent directors resigned from
Partner's Board of Directors and the following new directors were appointed: Mr.
Ilan Ben Dov, Scailex's chairman and controlling owner, Mr. Yacov Gelbard,
chairman of Tefron Ltd., Mr. Yahel Sachar, Sailex's CEO and Mr. Yaron Bloch,
Deputy CEO of Leumi Partners Ltd. 

Mr. Canning Fok, Hutchison Telecom's chairman, commented: "We are proud to have
built Partner into a respected and valuable company. I would like to take this
opportunity to thank the management team and all the staff at Partner for their
dedication and hard work throughout." 

Mr. David Avner, Partner's CEO, commented: "I would like to congratulate
Scailex, its business partners and Scailex's chairman, Mr. Ilan Ben Dov, for the
successful completion of the acquisition of Partner's controlling interest and
warmly welcome them on board. Partner is an outstanding company and I am
convinced that the entry of a new controlling shareholder will take the Company
to new heights while building upon the tremendous assets it has built over the
last decade, foremost of these being Partner's human resources and unique
corporate culture as well as our service and brand leadership. I would also like
to take this opportunity to thank Hutchison Telecom and its chairman, Mr.
Canning Fok, for creating such a high standard company and providing Partner
with an everlasting support that made it the leading telecom company it has
become." 

Mr. Ilan Ben-Dov, Scailex's chairman, commented: "I am thrilled and proud to
have successfully completed the acquisition of the controlling interest in
Partner and very excited at the prospect of joining such a valued company.
Partner is one of the strongest and most valued companies in the Israeli
economy, and I look forward to working with Partner's excellent management team
and dedicated employees to continue and prosper in the future." 

Shareholders are referred to the announcement made by Scailex earlier today for
more details. 

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933, as amended, Section 21E of the US
Securities Exchange Act of 1934, as amended, and the safe harbor provisions of
the US Private Securities Litigation Reform Act of 1995. Words such as
"believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could",
"may", "project", "goal", "target" and similar expressions often identify
forward-looking statements but are not the only way we identify these
statements. All statements other than statements of historical fact included in
this press release regarding our future performance, plans to increase revenues
or margins or preserve or expand market share in existing or new markets, reduce
expenses and any statements regarding other future events or our future
prospects, are forward-looking statements. 

We have based these forward-looking statements on our current knowledge and our
present beliefs and expectations regarding possible future events. These
forward-looking statements are subject to risks, uncertainties and assumptions
about Partner, consumer habits and preferences in cellular telephone usage,
trends in the Israeli telecommunications industry in general, the impact of
current global economic conditions and possible regulatory and legal
developments. For a description of some of the risks we face, see "Item 3D. Key
Information - Risk Factors", "Item 4. - Information on the Company", "Item 5. -
Operating and Financial Review and Prospects", "Item 8A. - Consolidated
Financial Statements and Other Financial Information - Legal and Administrative
Proceedings" and "Item 11. Quantitative and Qualitative Disclosures about Market
Risk" in the form 20-F filed with the SEC on April 27, 2009. In light of these
risks, uncertainties and assumptions, the forward-looking events discussed in
this press release might not occur, and actual results may differ materially
from the results anticipated. We undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise. 

About Partner Communications

Partner Communications Company Ltd. ("Partner") is a leading Israeli provider of
telecommunications services (cellular, fixed-line telephony and internet
services) under the orange brand. The Company provides mobile communications
services to 2.944 million subscribers in Israel (as of June 30, 2009). Partner`s
ADSs are quoted on the NASDAQ Global Select Market and its shares are traded on
the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR). 

Partner is a subsidiary of Scailex Corporation Ltd. ("Scailex"). Scailex's
shares are traded on the Tel Aviv Stock Exchange under the symbol SCIX and quote
on "Pink Quote" under the symbol SCIXF.PK. Scailex currently operates in three
major domains of activity: 1) financial assets management and entrepreneurship,
2) the sole import, distribution and maintenance of Samsung mobile handset
products primarily to the three major cellular operators in Israel, and 3)
distribution and sale of various manufacturers' mobile handsets, accessories and
maintenance services, through a chain of retail stores and booths ("Dynamic"),
to end customers of Cellcom Israel Ltd. ("Cellcom"). As part of the acquisition
of the controlling stake in Partner, Scailex announced to Cellcom the
termination of the distribution agreement through Dynamic, effective July 1,
2010. 

For more information about Scailex, see http://www.scailex.com/. 

For more information about Partner, seehttp://www.orange.co.il/investor_site/.

Partner Communications Company Ltd.
Mr. Emanuel Avner
Chief Financial Officer
Tel: +972-54-7814951
Fax: +972-54-7815961
E-mail: emanuel.avner@orange.co.il
or
Mr. Oded Degany
V. P. Corporate Development, Strategy and IR
Tel: +972-54-7814151
Fax: +972-54 -7814161
E-mail: oded.degany@orange.co.il



Copyright Business Wire 2009

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