Partner Communications Company Ltd. ("Partner" or "the Company") (Nasdaq:PTNR)(TASE:PTNR), a leading Israeli mobile communications operator, announces that Standard & Poor's Maalot ("S&P Maalot") has revised the CreditWatch implications of the Company's 'ilAA-' bond rating from "positive" to "developing" due to the announcement by the parent company that it has been approached by various parties regarding the possible sale of its indirect equity interest in the Company.

In its report, S&P Maalot stated that: "The placement of Partner's 'ilAA-' bond rating on CreditWatch "developing" reflects our opinion that Partner's rating may be raised, stay stable or even be lowered over the next few months as a result of a possible change in the controlling entity."

S&P Maalot further stated that: "We continue to see a high probability that the rating will be raised, should Partner's capital structure remain such that the financial risk profile supports a higher rating."

About Partner Communications

Partner Communications Company Ltd. ("Partner") is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony and Internet Services Provider) under the orange™ brand. The Company provides mobile communications services to 2.903 million subscribers in Israel (as of March 31, 2009). Partner’s ADSs are quoted on the NASDAQ Global Select Market™ and its shares are 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 Israel, and operates mobile telecommunications services in Thailand, Sri Lanka, Vietnam and Indonesia. It was the first provider of 3G mobile services in Israel and operates brands including “3”, “Hutch”, 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/

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
VP Corporate Development, Strategy and IRO
Tel: +972-54-7814151
Fax: +972-54 -7814161
E-mail: oded.degany@orange.co.il