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Partner Communications' CEO Discusses Q4 2011 Results - Earnings Call Transcript

During the fourth quarter, we began to reduce our level of workforce, as we mentioned in the last conference call with you. And at the same time, checking our operational efficiency measures to better address the new challenges.

With respect to the fixed-line segment, during the fourth quarter, the structural separations, which means the Orange brand and 012 was terminated. And we started the process of managing the fixed-line business or the businesses of Orange and 012 Smile.

We’re currently in the process of integrating most of the head quarter activities under one management, the management of Partner in a new management structure to maximize operating activities.

We are accelerating our investments, upgrading our network towards the 4G technology and as well as a fixed-line network. We expect that by the end of this year, approximately 1,500 cellular sites will be LTE ready. We continue to closely examine new growth engines.

Our long-term strategy is to provide an excellent customer experience that will differentiate us to a full high quality of network, outstanding customer service and innovative marketing initiative and professional help to channels. Putting all this together, during these coming years, we strengthened Orange’s position as a leading brand.

I’d like now to hand over the call to Mr. Ziv Leitman, our CFO.

Ziv Leitman

Thank you, Haim. The company is currently examining the development in the Internet Service Providers’ market, and the possible impact if any on the company and its results. In addition, the company is still examining the necessity if any of the impairment of intangible assets of the fixed-line segment.

As a result, the company is reporting at this time, the main estimated results and operating indication for the fourth quarter and for the year 2011. The final and complete results for the fourth quarter and for the year 2011 will be published towards the end of March 2012, at the same time the company publishes its audited financial report for 2011. You will appreciate that since we are only releasing the key estimated results and operating indices, so today my remarks will be limited to discussing the released results. I’m also going to focus my remarks on the quarterly results, rather than on the annual results.

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