NETANYA, Israel, August 13, 2010 /PRNewswire-FirstCall/ --

- In Light of MOC's Announcement on Interconnect Reduction not Being Published yet, Company Delays Announcement to be Able to Provide Second Quarter Results and Preliminary Assessments of MoC's Decision

- Conference Call Scheduled for August 26, 2010 at 9:30 ET

Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (hereinafter: the "Company"), announced today that since the Israeli Ministry of Communications, or MOC, has not released its final determination with respect to the previously reported proposed interconnect tariff reduction and in light of the potentially material impact of the MoC's decision on the Company's business results, the Company is postponing the release of its financial results for the second quarter ended June 30, 2010 until next Thursday, August 26, 2010, before the US markets open. This way the Company can provide its results for the second quarter as well as preliminary assessments of the MOC's final decision (assuming it has been made by then) and still meet (and allow its controlling companies to meet) the legal obligation to announce second quarter results by the end of this month.

The Company will be hosting a conference call on august 26, 2010 at 9:30 am ET (6:30 am PST, 14:30 GMT, 16:30 Israel time). On the call, management will review and discuss the results and will be available to answer questions.

To participate, please call one of the following teleconferencing numbers. Please begin placing your calls at least 10 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

                        US Dial-in Number: 1-888-668-9141

                        UK Dial-in Number: 0-800-917-5108

                       Israel Dial-in Number: 03-918-0610

                  International Dial-in Number: +972-3-918-0610

                                       at:

                            9:30 am EST; 6:30 am PST;
                      14:30 GMT Time; 16:30 Israel Time

The conference will be broadcast live on the investor relations section of the Company's website: http://investors.ircellcom.co.il. After the call, a replay of the call will be available under the same investor relations section.

About Cellcom Israel

Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom Israel provides its approximately 3.313 million subscribers (as at March 31, 2010) 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 www.cellcom.co.il

    Company Contact

    Yaacov Heen
    Chief Financial Officer
    investors@cellcom.co.il
    Tel: +972-52-998-9755

    Investor Relations Contact
    Porat Saar & Kristin Knies
    CCG Investor Relations Israel & US
    cellcom@ccgisrael.com
    Tel: +1-646-233-2161

SOURCE Cellcom Israel Ltd.