Partner Communications Company Ltd. ("Partner" or "the Company") (Nasdaq:PTNR)(TASE:PTNR), a leading Israeli mobile communications operator, announces today that following a comprehensive review of Partner´s distribution strategy and the effectiveness of its current distribution channels, it decided to terminate its distribution agreement with Super Pharm, one of the drugstore chains in Israel. The distribution agreement will expire on December 31, 2008. Under the agreement Super Pharm is obligated to transfer to Partner, following termination, all its Orange outside kiosks, which account for substantial part of sales of Orange services by Super Pharm.
The Company intends to enhance and expand its in–house distribution channels as part of its strategy to transition to a communication and multimedia service provider, which will include sales of new innovative products and services. Partner believes that the termination of the Agreement benefits the Company and would not have a material effect on the Company´s ability to attract new subscribers nor on its financial performance.
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 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" and "Item 8A. - Consolidated Financial Statements and Other Financial Information – Legal and Administrative Proceedings" in the form 20–F filed with the SEC on May 6, 2008. 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 mobile communications operator providing GSM / GPRS / UMTS / HSDPA services and wire free applications under the orange TM brand. The Company provides quality service and a range of features to 2.856 million subscribers in Israel (as of June 30, 2008). Partner´s ADSs are quoted on the NASDAQ Global Select Market TM and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).
Partner is a subsidiary of Hutchison Telecommunications International Limited ("Hutchison Telecom"), a leading global provider of telecommunications services. Hutchison Telecom currently offers mobile and fixed line telecommunications services in Hong Kong, and operates mobile telecommunications services in Israel, Macau, Thailand, Sri Lanka, Vietnam and Indonesia. It was the first provider of 3G mobile services in Hong Kong and Israel and operates brands including "Hutch", "3" and "orange". Hutchison Telecom, a subsidiary of Hutchison Whampoa Limited, is a listed company with American Depositary Shares quoted on the New York Stock Exchange under the ticker "HTX" and shares listed on the Stock Exchange of Hong Kong under the stock code "2332". For more information about Hutchison Telecom, see www.htil.com.
For more information about Partner, see http://www.orange.co.il/investor_site/
