Bezeq today published a profit warning regarding its Q4 2001 results due to subsidiary Pele-Phone Communications' performance. According to the warning, Pele-Phone will post losses substantially higher than previous projections.

Bezeq notes the losses stem primarily from a one-time write-off on capital equipment, and do not indicate deterioration in ongoing performance.The warning states "The increased losses at Pele-Phone could substantially adversely affect Bezeq's financial results to a currently unknown extent".

Bezeq will post its Q4 financials at the end of March. Bezeq is losing 5% on the Tel Aviv Stock Exchange on unusally high turnover at this time.

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