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Hutchison Whampoa Limited


Partner Communications announces
an amending agreement to its senior credit facility

Rosh Ha'ayin, Israel, December 31st, 2002 - Partner Communications Company Ltd. (NASDAQ and TASE: PTNR; LSE: PCCD) today announced that it has entered into an amending agreement to its senior credit facility.

The Agreement amends Partner's existing credit facility with a group of Israeli banks and Citibank N.A., with Bank Leumi Le-Israel B.M. serving as facility agent, arranger and security trustee, and Bank Hapoalim B.M. as coordinating agent.

Among the more significant amendments:

Commenting about the agreement, Alan Gelman, Partner's CFO said: "The amended credit facility provides the Company with a better credit profile and reflects the confidence of the banking community in the Company's achievements and its future plans. The amended facility will enable the Company to operate under more flexible financial conditions. This is particularly significant in light of our plans to lead the Israeli market into the 3G era".

About Partner Communications

Partner Communications Company Ltd. is the first 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 orangeTM brand name and, through its network, provides quality of service and a range of features to more than 1.750 million subscribers in Israel. Partner subscribers can use roaming services in 104 destinations using 250 GSM networks. The Company has been awarded a 3G license in 2002. Partner's ADSs are quoted on NASDAQ under the symbol PTNR and on the London Stock Exchange (LSE) under the symbol PCCD. Its shares are quoted on the Tel Aviv Stock Exchange (TASE) under the symbol PTNR. (For further information: < http://investors.partner.co.il >).


Contacts:

Mr. Alan Gelman
Chief Financial Officer
Tel: +972-67-814951
Fax: +972-67-815951
E-mail: alan.gelman@orange.co.il
Dr. Dan Eldar
V.P. Carrier, Investor and International Relations
Tel: +972-67-814151
Fax: +972-67-814161
E-mail: dan.eldar@orange.co.il


Source: Hutchison Whampoa Limited
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