PETACH TIKVA, Israel, November 25 /PRNewswire-FirstCall/ -- Internet Gold, (Nasdaq and TASE: IGLD) announced that its Board of Directors has authorized the repurchase of up to NIS 100 million (approximately U.S. $26 million) of the Company's Series B bonds. In addition the board authorized the repurchase of up to NIS 50 million (approximately U.S. $13 million) of the Series A bonds of its subsidiary, 012 Smile Communications. The purchases will be made from time to time by the Company or one of its wholly-owned subsidiaries in the open market on the Tel Aviv Stock Exchange. The timing and amount of any bond purchases will be determined by the Company's management based on its evaluation of market conditions and other factors. The repurchase program may be suspended or discontinued at any time. This new program is in addition to the Company's existing share buyback programs originally announced on November 29, 2007 and on July 7, 2008, which authorized the repurchase of up to NIS 140 million of the Company's ordinary shares and to the NIS 112 million convertible bond buyback program announced on January 28, 2008. In addition, the board of directors of 012 Smile Communications announced the approval of a NIS 100 million (approximately U.S. $26 million) buyback of its Series A bonds. About Internet Gold Internet Gold is one of Israel's leading communications groups with a major presence across all Internet-related sectors. Its 72.4% owned subsidiary, 012 Smile.Communications Ltd., is one of Israel's major Internet and international telephony service providers, and one of the largest providers of enterprise/IT integration services. Its 100% owned subsidiary, Smile.Media Ltd., manages a portfolio of Internet portals and e-Commerce sites. Forward-Looking Statements This press release contains forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the industry, changes in the regulatory and legal compliance environments in the industries it is engaged, the failure to manage growth and other risks detailed from time to time in Internet Gold's filings with the Securities Exchange Commission, including Internet Gold's Annual Report on Form 20-F. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement. For further information, please contact: Mor Dagan - Investor Relations, / Tel:+972-3-516-7620. Ms. Idit Azulay, Internet Gold, / Tel: +972-200-3848. DATASOURCE: Internet Gold CONTACT: For further information, please contact: Mor Dagan - Investor Relations, / Tel:+972-3-516-7620. Ms. Idit Azulay, Internet Gold, / Tel: +972-200-3848.

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