Suny Cellular Communication Ltd. — Capital/Financing Update 2004

Jun 20, 2004

סאיטקס קורפוריישן בע"מ

2004 ביוני 20

לכבוד רשות ניירות ערך באמצעות מגנא

גברות ואדונים נכבדים,

הנדון: סאיטקס קורפוריישן בע"מ ("החברה") - דוח מיידי בדבר תוצאות הצעת רכש מיוחדת

בהמשך למפרט הצעת הרכש המיוחדת ("המפרט" ו-"הצעת הרכש", בהתאמה) שפירסמה סאיטקס קורפוריישן בע"מ ("החברה") ביום 14 במאי 2004, כפי שתוקן ביום 2 ביוני 2004, לרכישת עד 5,643,739 מניות בנות 0.12 ש"ח ערך נקוב של החברה ("מניות"), ובהמשך לדיווח המיידי מיום 15 ביוני 2004, מודיעה בזאת החברה כי בהתאם למידע שמסר לה רכז הצעת הרכש, עד לתום התקופה הנוספת להיענות להצעת הרכש (היינו עד ליום 18 ביוני 2004 בחצות שעון ישראל) התקבלו הודעות קיבול בקשר עם 4,952,050 מניות. בהתאם לאמור במפרט, תרכוש החברה מבעלי המניות שנענו להצעת הרכש את כל המניות לגביהן מסרו הודעות קיבול. להודעה זו מצורף עותק מההודעה לעיתונות שפרסמה החברה בארה"ב במקביל להודעה זו.

בכבוד רב,

סאיטקס קורפוריישן בע"מ

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scitex

NEWS

FOR IMMEDIATE RELEASE

Scitex Completes Self Tender Offer

Tel Aviv, Israel – June 20, 2004. Scitex Corporation Ltd. (Nasdaq & TASE: SCIX) announced today that it has successfully completed its self tender offer to purchase its ordinary shares for $5.67 per share net to the seller in cash, less any required withholding taxes and without interest. The tender offer, which commenced on May 14, 2004, expired on Friday, June 18, 2004 at 5:00 p.m., New York time.

Scitex has been advised by the depositaries for the tender offer that, as of the final expiration of the tender offer, a total of 4,952,050 shares had been validly tendered and not properly withdrawn pursuant to the offer. As contemplated in the offer to purchase, Scitex has accepted for purchase all of the 4,952,050 shares tendered, and shall purchase from each tendering shareholder the full amount of his or her tender. Scitex shall pay for the tendered shares approximately $28 million in the aggregate. The shares to be purchased represent approximately 11.5% of the 43,018,413 shares issued and outstanding as of immediately prior to the consummation of the tender offer. Scitex will have 38,066,363 shares issued and outstanding as of the time immediately following the payment for the tendered shares (excluding 5,401,025 treasury shares).

Payment for the shares accepted will be made promptly through American Stock Transfer & Trust Company or Clal Finance Batucha Investment Management Ltd., the depositaries for the tender offer.

After payment for the shares tendered in the offer and accepted for payment, Discount Investment Corporation Ltd. and Clal Industries and Investments Ltd., Scitex's principal shareholders, are expected to beneficially own, in the aggregate, 18,702,255 ordinary shares of Scitex, representing approximately 49.13% of the issued and outstanding shares of Scitex.

Scitex Corporation Ltd.

Scitex shares trade on Nasdaq and The Tel Aviv Stock Exchange under the symbol "SCIX." For more information, please visit our Website at www.scitex.com.

Forward Looking Statements

Except for the historical information herein, the matters discussed in this news release include forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements that are based on various assumptions (some of which are beyond the Company's control) may be identified by the use of forward-looking terminology, such as "may," "can be," "will," "expects," "anticipates," "intends," "believes," "projects," "potential," "are optimistic," "view" and similar words and phrases. Actual results could differ materially from those set forth in forward-looking statements due to a variety of factors, including, but not limited to, (1) risks in product and technology development, (2) market acceptance of new products and continuing product demand, (3) the

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impact of competitive products and pricing, (4) changes in domestic and foreign economic and market conditions, (5) timely development and release of new products by strategic suppliers, (6) the impact of the Company's accounting policies, (7) risks relating to the integration of new businesses, (8) uncertainty of outcome of shareholders litigation, (9) uncertainty as to the timing of the contemplated cash distribution and (10) the other risk factors detailed in the Company's most recent annual report and other filings with the U.S. Securities and Exchange Commission. Except as may be required by law, the Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such forward-looking statements.

Scitex and the Scitex logo are registered trademarks and registered service marks of Scitex Corporation Ltd.

Contacts

Scitex Corporation Ltd. Yahel Shachar Chief Financial Officer Tel: +972 3 607-5855 Fax: +972 3 607-5884 E-mail: yahel.shachar@scitex.co.il

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