Rosh Ha'ayin, Israel - May 24, 2000 - Partner Communications Company Ltd. (NASDAQ: PTNR) announces an agreement with Israel's CT Motion Ltd. to closely cooperate in the development of location-based applications and location determination technology capabilities.
Partner was also granted a warrant to acquire a stake of CT Motion representing 10 percent of its share capital on December 31, 1999, which included the convertible securities that were already given, on a fully diluted basis.
The parties have announced their intention to cooperate in the joint development of turnkey services and products for the mobile Internet location-based services market. These services include: mobile advertising and cellular coupons, travel related information, virtual payment solutions, a range of personal safety and security services, and location determination technologies.
The collaboration is based on CT Motion's CellebrityTM Services Platform, an advanced Telco-grade application server, enabling the immediate deployment of mobile Internet location-based services developed by CT Motion and third party.
Amikam Cohen, CEO of Partner Communications commented: "the agreement with CT Motion is another step in realizing Partner's long-term strategy to enable our subscribers to be the first in the Israeli market to benefit from new and most advanced wirefree applications. Partner expects by this agreement to continue to realize value from growth outside the boundaries of Israel. We have been working with CT Motion in bringing to the market a sophisticated mobile workforce management system, and we are confident that this partnership will grow and flourish in the future."
Amnon Harari, CEO of Partner Future Comm., said that the agreement is another milestone in the development of one of the most advanced wirefree incubator environments. The agreement allows Partner to benefit from its unique position as the sole GSM operator in Israel and to continue to provide a gateway into the GSM world for a growing number of Israeli start-up companies developing products and applications for the 2nd and 3rd Generation cellular networks.
Yair Gaon, President and CTO of CT Motion noted: "the agreement with Partner is a significant step towards recognition of our technology and our ability to lead the break through in the location-based services market. This agreement will enable us to truly leap forward in the development of new future services and technologies in the field of B2B and B2C and will also provide us with a bridge to the GSM world."
CT Motion Ltd. is pioneering location-based, interactive mobile Internet service applications for corporate and individual users. In 1999, CT Motion introduced the Cellebrity TM - a WAP compliant Wireless/Internet cutting-edge platform enabling cellular network operators and Application Service Providers (ASP) the rapid deployment of innovative value-added service products for vertical and mass-market applications.
With its advanced technology evolution path, supporting WAP, STK and variable determination technologies, along with innovative business models, CT Motion is collaborating with leading network operators and service providers in the international market.
CT Motion is currently developing a full line of B2B and B2C m-commerce and information service applications, including personalized advertising and cellular coupons, mobile yellow pages and travel related services, safety and security services, content and lifestyle information applications. CT Motion's first service application - Mobile Command Center (MCC), for the monitoring and management of field workers and mobile professionals commercial services, is currently being commercially launched. (Visit www.ctmotion.com for more information).
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 426,000 subscribers in Israel. Partner provides its subscribers with international roaming services with 168 operators in 70 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)
Dr. Dan Eldar
Partner Communications Company Ltd.
V.P. Carrier, Investor and International Relations
Tel: +972 3 905 4151
Fax: +972 3 905 4161
Mr. Guy Talmi
Tel: +972 3 900 5900
Fax: +972 3 900 1793
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