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Suny Cellular Communication Ltd. Capital/Financing Update 2005

May 24, 2005

7066_rns_2005-05-24_532c3bae-153f-4238-983d-9bb8b0f03fce.pdf

Capital/Financing Update

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NEWS

SCITEX TO SELL ITS HOLDINGS IN OBJET GEOMETRIES

Tel Aviv, Israel – May 24, 2005 Scitex Corporation Ltd. (NASDAQ & TASE: SCIX) announced that it has agreed to sell all of its holdings in Objet Geometries Ltd. (Objet) to several shareholders of Objet for $3.0 million in cash, payable in two instalments. Additional contingent consideration will be paid to Scitex if Objet undergoes specified “exit events” prior to the end of 2007. The closing of the sale is subject to customary terms and conditions. The book value of Scitex's investment in Objet was recorded at $19,000 on Scitex’s balance sheet as of March 31, 2005, and such investment is accounted for under the equity method.

Scitex Corporation Ltd.

Scitex Corporation Ltd.'s shares trade on Nasdaq and The Tel Aviv Stock Exchange under the symbol “SCIX”. For more information, please visit our Web site 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 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 pursuing strategic alternatives, (8) uncertainty of outcome of shareholder litigation, and (9) the other risk factors detailed in the Company’s most recent annual report and other filings with the US 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.

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