E-Commerce Site For Frequent Online Buyers

Internet Gold announced that Smile.Media Ltd., its fully-owned subsidiary, and Yedioth Internet, operator of the popular Israeli YNET portal have agreed to jointly establish a YNET-branded e-Commerce site.

The new site, which will be launched by the end of 2006, will offer a broad range of popular products. Profits from the site will be divided equally between Smile.Media and Yedioth Internet. "Our rapidly-growing online commerce activities are making an increasingly significant contribution to the group, reflecting the coming of age of this important new shopping channel," said Eli Holtzman, Internet Gold's CEO. "As such, we are now taking our e-Commerce activities to the next level. We are delighted to partner with YNET, a popular news portal with a large, highly-educated user base that offers strong potential to become frequent online buyers.”

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.