Who We Are Partner Communications Company Ltd. ("Partner" or the "Company") is a leading cellular operator and telecommunication services provider in Israel. Operating under the orange™ brand, Partner provides a broad range of high-standard services to over 3 million cellular customers, representing a market share of approximately 32%. Alongside the current content and cellular services the Company is offering today, Partner introduced at the beginning of 2009 its new portfolio of services which includes ISP services, mail access, Wi-Fi, fixed telephony and web based entertainment multimedia services. The Company is thereby realizing its strategy to evolve from a pure cellular operator into a leading telecommunication company in Israel. These new activities are one of the foundations of the Company's future growth and a major opportunity to differentiate itself from competition. The Company’s ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ, TASE: PTNR). In October 2009, Partner's controlling shareholder, Hutchison Telecom, completed the sale of its controlling interest (51.3%) in Partner to Scailex Corporation Ltd. ("Scailex"), an Israeli company listed on the Tel Aviv Stock Exchange, for a consideration of approximately NIS5.3 billion. In parallel to the closing of the transaction, and as a result of various subsequent transactions, Scailex and its affiliates now hold approximately 45% of Partner's outstanding shares. A History of Innovation Partner focuses on creating a new and exciting communications environment for its subscribers through the offering of innovative and value-added services and the most advanced technologies. The number of 3G subscribers reached approximately 1.2 million at end Q3 2009 (40% of the subscriber base). The Company has also started, as early as 2006, the implementation of its HSPA network, which improves the mobile broadband user experience and enhances content and data consumption. Partner is committed to innovation and continuously invests in its strategic initiatives and new domains of activity. For the third time in a row, the Company was designated by top Israeli business managers the most innovative company in Israel by a wide margin. Partner's continuous dedication to provide the best service to its customers has been recently highly rewarded by a survey run by "The Marker", attributing to Partner the best score in service level out of all the Israeli cellular companies, in all the survey parameters. Partner is today in a strong position to take advantage of new opportunities and achieve its goal to become a comprehensive communication service provider.   It's All About Content Partner puts a special emphasis on content and data and the company is the industry leader in this area, consistently achieving the highest revenues from content and data. Leading the 3.5G market in Israel pushes forward Partner's content business, which reaches annual revenues of above NIS 800 million.  Together with its continuous investment in the upgrade of its cellular network (a prerequisite for high data consumption), Partner also continually strengthens its presence in the content market. The expansion of devices such as smart phones, and cellular modems, which create new synergic platforms with the Company's activity, supports Partner's "data anywhere" vision and is one of the foundations for future growth.   Bringing Value to Partner's Shareholders Partner's success leans on the tremendous assets built by the Company in the last decade, which made it a leading telecommunications company in Israel and a "value" company committed to maximize shareholders' return . On November 9, 2009 Partner announced the payment of a cash dividend for the third quarter of 2009 of NIS 1.94 (US 52 cents) per share or ADS (in a total of approximately NIS 300 million or US$ 80 million). In addition, the Company is currently considering applying to the Israeli courts for a capital reduction in order to distribute a one-time dividend. The requested capital reduction will be over NIS 1 billion and, if approved, will likely take place during the first quarter of 2010.