Matav to Delay Termination of NASDAQ Listing and ADR Program

Matav to Delay Termination of NASDAQ Listing and ADR Program

NETANYA, Israel, May 26/PRNewswire-FirstCall/ -- Matav-Cable Systems Media Ltd. (NASDAQ: MATV, TASE: MATV) announced today that it is delaying the implementation of its previously announced plan to terminate its SEC registration, NASDAQ listing and its American Depositary Receipt (ADR) program. The board of directors of Matav will re-examine the timing of such termination in the next few months.

Matav plans to file its annual report on Form 20-F with the SEC for the year ended December 31, 2004 and continue to observe all of its current legal and regulatory requirements until a final decision is made with respect to its public company status in the U.S.

About Matav:

Matav is one of Israel's three cable television providers, serving roughly 25 percent of the population. Matav's current investments include 1.2% of Partner Communications Ltd., a GSM mobile phone company and 10.0% of Barak I.T.C. (1995) Ltd., one of the three international telephony providers in Israel.

Important notice:

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements that are based on various assumptions (some of which are beyond Matav's control) may be identified by the use of forward-looking terminology, such as "may", "can be", "will", "expects", "anticipates", "intends", "believes", "projects", "potential", "are optimistic", "view" and similar words and phrases. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including but not limited to (1) changes in technology and market requirements, (2) decline in demand for the company's products, (3) inability to timely develop and introduce new technologies, products and applications, (4) loss of market share and pressure on pricing resulting from competition, (5) uncertainty as to the completion of acquisition of new businesses or operations and integration thereof with Matav's business, and (6) the other risk factors detailed in Matav's most recent annual report and other filings with the US Securities and Exchange Commission. Matav undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contacts: Ori Gur Arieh, General Counsel Matav-Cable Systems Media Ltd. Tel.: +972-9-860-2261

Ayelet Shiloni Integrated Investor Relations Tel.: +1-866-447-8633 Tel: +972-506883-336 ayelet@integratedir.com

Source: Matav - Cable Systems Media Ltd.

Ori Gur Arieh, General Counsel, Matav-Cable Systems Media Ltd., Tel.: +972-9-860-2261. Ayelet Shiloni, Integrated Investor Relations, Tel.: +1-866-447-8633, Tel: +972-506883-336, ayelet@integratedir.com

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