Internet Gold - Golden Lines' Subsidiary Smile.Communications Completes Full Acquisition of 012 Golden Lines

PETACH TIKVA, Israel, Jan. 1 /PRNewswire-FirstCall/ -- Internet Gold, (Nasdaq and TASE: IGLD) ("the company") today announced that its fully-owned subsidiary, Smile.Communications Ltd., has completed the acquisition of all the shares of 012 Golden Lines Ltd. ("012") from 012's previous shareholders.

In parallel, the Company today reported that its subsidiaries, Smile.Communications, and 012 Golden Lines have jointly submitted a request to the Israeli court to merge 012 Golden Lines with Smile.Communications in accordance with section 351 of Israel's corporations' law.

In addition, Internet Gold and its subsidiaries, Smile.Communications, Smile.Media, and Internet Gold International ("Internet Gold Group") have submitted a request to approve the restructure of Internet Gold Group into its 2 different segments as detailed below.

Ms. Stella Handler, CEO of 012 Golden Lines, has been appointed CEO of Smile.Communications Ltd. in addition to her current role.

About Internet Gold

Internet Gold is Israel's leading IP Group with a major presence across all Internet-related sectors. Its Smile.Communications segment offers a variety of Internet access and related value-added services, international telephony and enterprise/IT integration services. Its Smile.Media segment manages a growing portfolio of Internet portals and e-Commerce sites.

Internet Gold is part of the Eurocom communications group. Its shares trade on the Nasdaq Global Market and on the Tel Aviv Stock Exchange.

For additional information about Internet Gold, please visit its investors' site at http://www.igld.com/ .

For further information, please contact: Lee Roth KCSA Worldwide [phone] In Israel: Mor Dagan Investor Relations [phone] Ms. Idit Azulay, Internet Gold [phone]