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Cellcom Israel Announces Ex-Dividend Date With Respect to its Previously Announced Cash Dividend

NETANYA, Israel, May 24, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Cellcom Israel Ltd. (NYSE: CEL) ("Cellcom", the "Company"), announced today that the New York Stock Exchange has determined that the ex-dividend date with respect to the Company's previously announced cash dividend in the amount of NIS 2.03 per share (subject to applicable withholding tax) will be June 5, 2007. As the Company announced on May 14, 2007, the record date for the dividend will be May 25, 2007 and the payment date will be June 7, 2007. The Company will convert the NIS to US$ based upon the representative rate of exchange published by the Bank of Israel on June 4, 2007. Shareholders are advised to contact their financial advisors before selling their shares during the period between the record date and the ex-dividend date.

About Cellcom

Cellcom Israel Ltd., established in 1994, is the leading Israeli cellular provider; Cellcom provides its 2.928 million subscribers (as at March 2007) 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's technologically advanced infrastructure. The Company operates an HSDPA 3.5 Generation network enabling the fastest high speed content transmission available in the world, in addition to GSM/GPRS/EDGE and TDMA networks. Cellcom 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 offers its customers technical support, account information, direct to the door parcel services, internet and fax services, dedicated centers for the hearing impaired etc. In April 2006 Cellcom Fixed Line Communications L.P., a limited partnership wholly-owned by Cellcom, became the first cellular operator to be granted a special general license for the provision of landline telephone communication services in Israel, in addition to data communication services. For additional information please visit the Company's website

    Company Contact

    Shiri Israeli
    Investor Relations Coordinator
    Tel: +972-52-998-9755

    Investor Relations Contact

    Ehud Helft / Ed Job
    CCGK Investor Relations /
    Tel: (US) +1-866-704-6710 / +1-646-213-1914


SOURCE Cellcom Israel Ltd.

Company Contact: Shiri Israeli , Investor Relations Coordinator,, Tel: +972-52-998-9755; Investor Relations Contact: Ehud
Helft / Ed Job, CCGK Investor Relations, /, Tel: (US)
+1-866-704-6710 / +1-646-213-1914

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