NETANYA, Israel, February 25, 2010 /PRNewswire-FirstCall/ -- Cellcom Israel Ltd. (NYSE: CEL) announced today that the 2010 Annual General Meeting of Shareholders (the "Meeting") of Cellcom Israel Ltd. (the "Company") will be held on April 7, 2010, at 4:00 p.m., (Israel time), at the offices of the Company, 10 Hagavish Street, Netanya, Israel. The record date for the Meeting is March 8, 2010.

    The agenda of the Meeting is as follows:

    (1) re-election of Ami Erel, Shay Livnat, Raanan Cohen, Avraham Bigger,
        Rafi Bisker, Shlomo Waxe, Haim Gavrieli, Ari Bronshtein and
        Tal Raz as directors;

    (2) Re-election of Ronit Baytel and Joseph Barnea as external directors;

    (3) reappointment of Somekh Chaikin as our independent auditor; and

    (4) consideration of our audited financial statements for the year ended
        December 31, 2009, which we intend to file with the SEC on or about
        March 2, 2010.

Quorum

Two or more shareholders holding in the aggregate at least one-third of the outstanding voting power in the Company, present in person or by proxy and entitled to vote, will constitute a quorum at the Meeting.

Voting Requirements

Item 1 and Item 3 require the affirmative vote of the holders of a majority of the voting power in the Company present, in person or by proxy, and voting on the matter.

Item 2 requires the affirmative vote of the holders of a majority of the voting power in the Company present, in person or by proxy, and voting on the matter, provided that either (i) at least one third of the shares of non-controlling shareholders are voted in favor of the election of the external director or (ii) the total number of shares of non-controlling shareholders voted against the election of the external director does not exceed one percent of the outstanding Ordinary Shares.

Item 4 will not involve a vote.

About Cellcom Israel

Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its approximately 3.259 million subscribers (as at September 30, 2009) with a broad range of value added services including cellular and landline telephony, roaming services for tourists in Israel and for its subscribers abroad and additional services in the areas of music, video, mobile office etc., based on Cellcom Israel's technologically advanced infrastructure. The Company operates an HSPA 3.5 Generation network enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE and TDMA networks. Cellcom Israel offers Israel's broadest and largest customer service infrastructure including telephone customer service centers, retail stores, and service and sale centers, distributed nationwide. Through its broad customer service network Cellcom Israel offers its customers technical support, account information, direct to the door parcel services, internet and fax services, dedicated centers for the hearing impaired, etc. As of 2006, Cellcom Israel, through its wholly owned subsidiary Cellcom Fixed Line Communications L.P., provides landline telephone communication services in Israel, in addition to data communication services. Cellcom Israel's shares are traded both on the New York Stock Exchange (CEL) and the Tel Aviv Stock Exchange (CEL). For additional information please visit the Company's website http://www.cellcom.co.il

    Company Contact                Investor Relations Contact
    Yaacov Heen                    Porat Saar & Kristin Knies
    Chief Financial Officer        CCG Investor Relations Israel & US
    investors@cellcom.co.il        cellcom@ccgisrael.com
    Tel: +972-52-998-9755          Tel: +1-646-233-2161

SOURCE Cellcom Israel Ltd.