News Releases

Cellcom Israel Ltd. Announces That it Granted 30,786 Options Under its 2006 Share Incentive Plan to Certain Senior Employees

NETANYA, Israel, March 12 /PRNewswire-FirstCall/ -- Cellcom Israel Ltd. (NYSE: CEL - News; "Cellcom") announces that on March 11, 2007, it granted certain of its senior employees options to purchase an aggregate of 30,786 ordinary shares of Cellcom, at an exercise price of $12.60 per share, under the terms of its 2006 Share Incentive Plan.

About Cellcom

Cellcom is the leading Israeli cellular company; Cellcom entered the market in 1994 and today provides services to more than 2.8 million subscribers representing approximately 34% market share. Cellcom offers its subscribers a broad range of value added services including video streaming services, JAVA games, Multi Media Messages, content and multimedia services and more. In addition, Cellcom offers a wide range of cellular telephony services to both the private and business sectors including virtual private network (VPN), global roaming, voice-activated dialing and conference calling. Cellcom operates UMTS/HSDPA, GSM/GPRS/EDGE and TDMA networks. Cellcom also offers landline transmission and data services to business customers and telecommunications operators and, since July 2006, offers landline telephony services to selected businesses. For additional information please visit the Company's website


    Company Contact                  Investor Relations Contact
    Shiri Israeli                    Ehud Helft / Ed Job
    Investor Relations Coordinator   CCGK Investor Relations /
    Tel: +972-52-998-9755            Tel: (US) +1-866-704-6710 /