The Bank of New York Selected as Successor Depositary by Partner Communications.

NEW YORK -- The Bank of New York, a global leader in securities servicing, has been selected as successor depositary by Partner Communications Company, Ltd. for its American depositary receipt program (ADR). Each Partner Communications ADR represents one ordinary share. The ADRs trade on the NASDAQ Stock market under the symbol "PTNR" and on the London Stock Exchange under the symbol "PCCD." Partner's ordinary shares are quoted on the Tel Aviv Stock Exchange under the symbol "PTNR."

Partner is an Israeli mobile communications operator known for its GSM/GPRS/UMTS-based services and the development of wire free applications under the orange(TM) brand. Partner provides a broad range of advanced cellular services including seamless roaming in 163 countries worldwide.

Alan Gelman, Partner's Chief Financial Officer, said, "We are pleased that our ADRs are now under the management of the depositary receipts market leader. After careful assessment, we concluded that The Bank of New York offers the services that can best help our program maximize its performance in the market."

Christopher Sturdy, executive vice president and head of The Bank of New York's Depositary Receipt Division, said, "We welcome Partner Communications to the growing list of established ADR issuers switching their programs to The Bank of New York. We are confident that we can help Partner elevate the market visibility and liquidity of its program, and we appreciate their vote of confidence in our abilities."

The Bank of New York is depositary for more than 1,230 American and global depositary receipt programs, a 64% market share, acting in partnership with leading companies from 60 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Bank delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.

The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.

The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.