Bezeq yes subscribers unchanged in 1Q10

Tuesday, May 4th, 2010
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TEL AVIV, Israel — Bezeq – The Israel Telecommunication Corp., Ltd. (TASE: BEZQ), Israel’s leading telecommunications provider, announced today its financial results for the first quarter of 2010, ended March 31, 2010.

‘yes’

Revenues for Q1 2010 increased 2.0% year-over-year to NIS 391 million as subscribers increased 2.0% year-over-year to 571,000. yes launched its IP-based video-on-demand (VOD) – YESMax Total – service to customers during the quarter, providing an important value-added offering. Q1 2010 operating profit declined 11% to NIS 59 million and the net loss increased modestly to NIS 8 million year-over-year, with EBITDA totaling NIS 122 million (31.3% EBITDA margin), in-line with Q1 2009. Segment free cash flow more than doubled to NIS 61 million versus Q1 2009, as operating cash flow increased 33.8% to NIS 121 million for Q1 2010.

Number of subscribers (end of period, in thousands)

Q1 2009  Q2 2009  Q3 2009  Q4 2009  Q1 2010
-------  -------  -------  -------  ------- 
    560      562      567      571      571

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