Rosh Ha'ayin, Israel - July 20, 2000 - Partner Communications Company Ltd. (NASDAQ: PTNR), today issued a report on its operational results for the second quarter ended June 30, 2000. Launching operations January 1, 1999, Partner Communications reached approximately 504,000 subscribers at the end of the second quarter ended June 30, 2000 compared to a base of approximately 178,000 subscribers at the end of the second quarter ended June 30, 1999.
For the three-month period ended June 30, 2000 Partner's market share increased to an estimated 15 percent. Partner also reported a marginal increase in its churn rate from 1.5 percent in the second quarter of 1999 to 1.6 percent for the second quarter of this year.
In terms of average monthly usage, the Company saw the expected change from its early months of operations with a decline from 454 minutes per subscriber in the second quarter of 1999 to 396 minutes in the second quarter of 2000. The average monthly revenue excluding in-roaming revenues dropped from NIS 361 per subscriber for the second quarter of 1999 to NIS 291 per subscriber for the same quarter, 2000.
For the first time this quarter Partner also disclosed details of average monthly revenue inclusive of in-roaming revenue. The average monthly revenue, inclusive of in-roaming revenue, was NIS 404 per subscriber for the quarter ended June 30, 1999 compared to NIS 325 per subscriber in second quarter of 2000.
The cost of acquiring new subscribers decreased from NIS 1,512 per subscriber in the second quarter of 1999 to NIS 1,026 per subscriber in the second quarter of 2000. This reduction was principally driven by the introduction in May 2000 of the new "orange to go fix" package whereby new private customers receive a significant lower subsidy on the purchase of their handsets.
Network coverage increased from 95 percent of the Israeli population at the end of the second quarter of last year, to 97 percent at the end of second quarter 2000, while the number of operational base stations grew from 650 macro sites and 19 micro sites at the end of the second quarter last year, to 907 macro sites and 115 micro sites at the end of the second quarter of 2000. Partner's employment roster grew from 1,267 full-time equivalent to 1,635, reflecting the rapidly growing subscriber base and the Company's emphasis on customer service.
"In May Partner completed a significant repositioning of its tariff in the Israeli cellular market", said Amikam Cohen, Partner CEO. "We have seen clear benefit from this move in the latter half of this quarter, with another milestone being achieved of half a million subscribers."
Mr. Cohen further added that Partner's recent introduction of a new and wide range of handsets and the launch of its GSM prepaid offering, position the company to continue to gain market share through the remainder of the year.
Partner Communications will hold a conference call for investment professionals on July 20, 2000, at 17:00 Israel local time. This conference call will be broadcasted live over the Internet and can be accessed by all interested parties through our investors' web site at http://investors.partner.co.il. To listen to the broadcast, please go to the web site at least 15 minutes prior to the start of the call to register, download, and install any necessary audio software. For those who are not available to listen to the live broadcast, a replay will be available shortly after the call.
Partner Communications Company Ltd. is the only Global System for Mobile Communications, or GSM, mobile telephone network operator in Israel. The Company commenced full commercial operations in January 1999 under the international Orange Brand name and, through its network, provides quality of service and a range of features to over half a million subscribers in Israel. Partner provides its subscribers with international roaming services with 171 operators in 72 countries. The Company's shares are quoted on NASDAQ under the symbol PTNR and on the London Stock Exchange under the symbol PCCD. (For further information: http://investors.partner.co.il)
The statements contained in this release which are not historical facts are forward-looking statements with respect to plans, projections or future performance of the Company, the occurrence of which involves certain risks and uncertainties. For a discussion of important factors which could cause actual results to differ materially from such forward-looking statements, refer to Partner's Form 20-F (Commission file No. 1-14968) which has been filed with the U.S. Securities and Exchange Commission on April 20, 2000.
Contacts:
Kevin Russell
CFO
Tel: +972-3-9054951
Fax: +972-3-9054161
E-mail: kevin.russell@orange.co.il
Dr. Dan Eldar
V.P. Carrier, Investor and International Relations
Tel: +972-3-9054151
Fax: +972-3-9054161
E-mail: dan.eldar@orange.co.il
(An Israeli Corporation)
SUMMARY OPERATING DATA
(1) We have presented the amounts in nominal NIS. The equivalent adjusted NIS amounts are 374 as of June 30, 1999, and 293 as of June 30, 2000.
(2) We have presented the amounts in nominal NIS. The equivalent adjusted NIS amounts are 418 as of June 30, 1999 and 327 as of June 30, 2000.
(3) We have presented the amounts in nominal NIS. The equivalent adjusted NIS amounts are 1,546 as of June 30, 1999, and 1,030 as of June 30, 2000.
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