Audiocodes Ltd. — Director's Dealing 2008

Aug 5, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AUDIOCODES LTD (AUDC)
CIK: 0001086434
Period of Report: 2008-08-01

Reporting Person: SOROS FUND MANAGEMENT LLC (10% Owner)
Reporting Person: SOROS GEORGE (10% Owner)
Reporting Person: Soros Robert (10% Owner)
Reporting Person: SOROS JONATHAN T ALLAN (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-08-01	2% Senior Convertible Notes due 2024	$18.71	P		Acquired		Common Stock (649385)	Indirect

Footnotes

F1: The 2% Senior Convertible Notes due 2024 (the "Notes") are convertible at any time and mature on November 9, 2024.

F2: The Notes are held for the account of Quantum Partners LDC, a Cayman Islands exempted limited duration company ("Quantum
Partners"). Soros Fund Management LLC ("SFM LLC") serves as principal investment manager to Quantum Partners. As such, SFM
LLC has been granted investment discretion over portfolio investments, including the Notes, held for the account of Quantum
Partners. George Soros serves as Chairman of SFM LLC, Robert Soros serves as Deputy Chairman of SFM LLC, and Jonathan Soros
serves as President and Deputy Chairman of SFM LLC.