Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, Section 21E of the US Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "project", "goal", "target" and similar expressions often identify forward-looking statements but are not the only way we identify these statements. All statements other than statements of historical fact included in this press release regarding our future performance, plans to increase revenues or margins or preserve or expand market share in existing or new markets, reduce expenses and any statements regarding other future events or our future prospects, are forward-looking statements.

We have based these forward-looking statements on our current knowledge and our present beliefs and expectations regarding possible future events. These forward-looking statements are subject to risks, uncertainties and assumptions about Partner, consumer habits and preferences in cellular telephone usage, trends in the Israeli telecommunications industry in general and possible regulatory and legal developments. For a description of some of the risks we face, see "Item 3D. Key Information - Risk Factors", "Item 4. - Information on the Company", "Item 5. - Operating and Financial Review and Prospects" and "Item 8A. - Consolidated Financial Statements and Other Financial Information - Legal and Administrative Proceedings" in the form 20-F filed with the SEC on May 6th, 2008. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and actual results may differ materially from the results anticipated. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Partner Communications

Partner Communications Company Ltd. ("Partner") is a leading Israeli mobile communications operator providing GSM / GPRS / UMTS / HSDPA services and wire free applications under the orange(TM) brand. The Company provides quality service and a range of features to 2.823 million subscribers in Israel (as of March 31, 2008). Partner's ADSs are quoted on the NASDAQ Global Select Market(TM) and its shares are also traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).

Partner is a subsidiary of Hutchison Telecommunications International Limited ("Hutchison Telecom"), a leading global provider of telecommunications services. Hutchison Telecom currently offers mobile and fixed line telecommunications services in Hong Kong, and operates mobile telecommunications services in Israel, Macau, Thailand, Sri Lanka, Ghana, Vietnam and Indonesia. It was the first provider of 3G mobile services in Hong Kong and Israel and operates brands including "Hutch", "3" and "orange". Hutchison Telecom, a subsidiary of Hutchison Whampoa Limited, is a listed company with American Depositary Shares quoted on the New York Stock Exchange under the ticker "HTX" and shares listed on the Stock Exchange of Hong Kong under the stock code "2332". For more information about Hutchison Telecom, see www.htil.com.

For more information about Partner, see http://www.orange.co.il/investor_site/

SOURCE: Partner Communications Company Ltd.

Mr. Emanuel Avner
Chief Financial Officer
Tel: +972-54-7814951
Fax: +972-54-7815961
E-mail: emanuel.avner@orange.co.il
or
Mr. Oded Degany
V.P. Corporate Development, Strategy and IRO
Tel: +972-54-7814151
Fax: +972-54 -7814161
E-mail: oded.degany@orange.co.il

However, the ratings agency added that Sugi Pharmacy's proven management expertise and business model should allow the company to manage these risks, while capturing additional business opportunities resulting from the changing business environment.

Therefore, it expects Sugi Pharmacy's healthy, stable operating performance to continue for the medium term, Moody's said.

It said Sugi Pharmacy plans to expand its home medical care business while potentially possessing substantial operating risk and this may provide the company with new revenue in the longer term.

While Sugi Pharmacy has a dominant market position in Chukyo, Moody's said it feels the company needs to strengthen its franchises in Kanto and Kansai.

Moody's said it recognizes Sugi Pharmacy has a rather strong appetite for mergers & acquisitions, as evidenced in its medium-term business strategy.

However, Moody's said it expects the company will take a disciplined approach in implementing growth strategies while maintaining a conservative financial policy. tfn.newsdesk@thomson.com arc/alo

COPYRIGHT

Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

MMMM

But Air New Zealand is not exempt from the adverse global conditions that currently threaten the industry - including the impact of slowing domestic and international economies - and which are likely to represent reasonable challenges over coming months, it warned.

Moody's said the outlook remains positive in light of the strong metrics and robust operational franchises shown by Air New Zealand for its rating level. TFN.newsdesk@thomsonreuters.com ran

COPYRIGHT

Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

MMMM

However, Moody's noted that Macao's solid fiscal position has produced considerable public sector surpluses over the past five years and added that because it does not have any public debt that needs to be repaid, its budget surpluses are all saved. In terms of its peers, no other government in Moody's rated universe is debt-free, a situation that provides for an overwhelmingly positive comparison to countries in the same rating range, it said.

On virtually all external liquidity and vulnerability indicators, Macao is stronger than similarly-rated countries, Moody's said in a special report on the territory, which China classifies -- like Hong Kong -- as a Special Administrative Region.

The strength of its external position and ample international reserves also remain key factors behind its ratings but on the flipside Macao -- as a currency board region -- has no monetary policy, and can do little to keep down inflation, which is now on the rise.

The rating agency also said, from a medium-term perspective, Macao's prospects also look good due to the liberalization of the gaming industry -- which along with tourism represents over half of government and foreign exchange revenues. Further support comes from plans to build a bridge link with Hong Kong, which would help underpin the gaming boom. But Moody's said the economy is becoming increasingly reliant on gaming and tourism, which is vulnerable to external shocks.

In conclusion, although Macao has stronger statistical credit fundamentals than many of its rated peers, Moody's believes that its dependence on one industry and its political status within China keep its ratings from being higher. TFN.newsdesk@thomsonreuters.com ran

COPYRIGHT

Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

MMMM