B Communication — Capital/Financing Update 2010

Feb 18, 2010

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C003012 �����.������ ��"�2Public012 SMILE.COMMUNICATIONS LTD6667Corporation no: 512832742Stock Exchange/Market: ����� 0122508381Hasivim St 25 , Petach-Tikva 49170 , ,Tel: 072-2002111 , Fax: 072-2002080E.mail address: idita@co.zahav.net.ilDate of transmission: 18/02/2010              Time of broadcast: 17:31 17:30:56

Reference: 2010-02-389046

Israel Securities Authority		Tel Aviv Stock Exchange
www.isa.gov.il		www.tase.co.il

Other Report or AnnouncementRegulation 5 of the Securities Regulations, (Periodic and Immediate Reports of Foreign Corporation) 5761-2000 The corporation is a foreign private issuer as defined by U.S. Securities Laws.

Attached hereto is a report on	012 Smile.Communications Announces that a wholly owned subsidiary has signed a Financing Agreement of between NIS 300 million and NIS 500 million with Migdal Insurance & Financial Holdings Ltd. as Part of the Funding of its Acquisition of the Controlling Interest in Bezeq - The Israel Telecommunication Corp.

migdal_isa.pdf

References of previous documents relating to this matter(the reference does not constitute incorporation by reference):
Previous names of reporting entity:
Date of revision of form structure: 18/01/2010
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Name of the Signatory: : Barlev Ami , Position of Signatory in the reporting corporation: Legal Adviser , Name of Employer Company: Eurocom communications Ltd .
Dov Friedman Telephone: 03-7530104 , Facsimile: 03-7530083 , E-mail: amiba@eurocom.co.il 2