GLT Gilat

RNS Number:5785V
Gilat Satcom Limited
26 April 2007


                                Gilat Satcom Ltd

                              Change of Ownership

Gilat Satcom Ltd. (the "Company") hereby announces that the change of control in
the Company's parent company, Satcom Systems Ltd. ("Satcom"), announced on 28
March 2007, has been completed.

Eurocom Communications Ltd., ("Eurocom") purchased 53.6% of Satcom's shares for
NIS 35 million (approximately GBP 4.26 million). Eurocom also has an option
until 30 November 2007, to purchase from a company controlled by Marc Zalcman,
an interested party in Satcom, an additional 7.97% of Satcom's shares for NIS 6
million (approximately GBP 730,000) (the "Transaction").

Eurocom also holds, prior to the Transaction, additional 719,060 shares of
Satcom. In addition another company controlled by Eurocom Group, holds 253,036
shares of Satcom, which brings Eurocom Group to a total aggregate holding of
58.01% in Satcom or 65.98% if it will exercise the option to purchase additional
shares.

Satcom holds 79.2% of the issued share capital of the Company. The Company was
informed that another company controlled by Eurocom Group, holds, prior to the
change of control, 750,000 shares of the Company, representing 4.2% of its
issued and outstanding share capital which will bring Eurocom's total holdings
in the Company, directly and through Satcom, to 83.4%.

Following the completion of the Transaction the following new board members were
appointed to the Board of Directors of the Company: Mr. Shaul Elovitch, Mr Or
Elovitch, and Mr. Amikam Shorer.

For further details on the new board members please see below.

The resignation of Udi Amir, Marc Zalcman, Alicia Rotbart and Erez Gissin as
director's of the Company will come into effect on April 28, 2007.

About Eurocom:

Eurocom Group (of which Eurocom forms part) is Israel's largest privately owned
communications group with a presence in the Israeli and international markets.
Eurocom's purchase of the Company is in line with its business strategy to
increase and broaden its service offering, together with a mutual contribution
to other companies within the Eurocom Group. The Company's management believes
that joining Eurocom Group will strengthen the Company and will enable it to
leverage its capabilities and maximize its growth potential.

New Directors appointed:

Shaul Elovitch

Age 59, Mr.Elovitch is the chaiman, President, CEO and controlling shareholder
of the Eurocom Group since 1985. Mr.Elovitch acts as a director in most of the
companies in Eurocom Group . Upon completion of the Transaction Mr.Elovitch was
also appointed as a director of Satcom. Mr. Elovitch acts as a director in the
following companies:

Eurocom Holdings (1979) Ltd., Eurocom Communications Ltd., Eurocom Cellular
Communications Ltd., Eurocom Digital Communications Ltd., Eurocom Cellular
Technologies (2000) Ltd., Eurocom Industries (1986) Ltd., Eurocom development
(1995) Ltd., Euronet Communications Ltd., Satlink Communications Ltd., Internet
Gold - Golden Lines Ltd., M.N.B Tulip Trustees (2002) Ltd., Tapuz Cellular
Systems Ltd., Euronet Internet Gold (1995) Ltd,. Smile Communications Ltd,
Smile.Media Ltd., Internet Gold International Ltd., Internet Gold International
Holdings (2000) Ltd., MSN Israel Ltd., Eurocom Networks and Technologies Ltd.,
Radius Broadcasting Ltd., F.M. Radio Hashfala Ltd., Radio Holdings E.U. Ltd.,
Eurocom D.B.S. Ltd., D.B.S. Satellite Services (1998) Ltd., Eurocom Real Estate
Ltd., Continental - Construction & Investment Company - D.A Ltd., Mivnei
Dolinger (city gate) Construction & Investment Company Ltd., Dolinger & Co. -
Construction & Investment Company (1990) Ltd., Mivnei Dolinger Construction &
Investment Company Ltd., Eurocom Management Investments 2005 Ltd., Eurocom
Holdings and Investments Ltd., Trans-Global Industries PTE Ltd., Eurocom
Communication Holding 2005 Ltd., Eurocom Assets Ltd., Eurocom Assets Holdings
Ltd., Eurocom Technologies Management (2005) Ltd., Eurocom Media-Net Holdings
Ltd., Eurocom Management Holdings Ltd., Eurocom Networks 21 Ltd., R.F.
Investments and Promotion 1988 Ltd., Danitam - Holdings (1981) Ltd., M.H.N - R.B
Trustees - Tulip (2002) Ltd., Space Communication Ltd., Satcom Systems Ltd.
During the past 5 years Mr.Elovitch was also director in IP Planet Networks
Ltd., R.D.C Communications Ltd., IDC Eurocom Digital Communications (1992) Ltd.,
Media Holding (I.U) Lts., Ofek The New World Ltd., Eurocom Media Communications
I.U. Ltd. and Eurocom Technologies (I.U.Tech) Ltd.

Or Elovitch

Age 30, Or Elovitch is Mr. Shaul Elovitch's son. Mr. Elovitch is Executive Vice
President of Eurocom Communications Ltd. and acts as a director in various
companies of the Eurocom Group. Mr.Elovitch holds a BA in business
administration from the College of Management Academic Studies Division, Israel
and an MBA from City University of New York. Upon completion of the Transaction
Mr.Elovitch was also appointed as a director of Satcom. Mr. Elovitch acts as a
director in the following companies: Spacecom Ltd., Satlink Communications Ltd.,
Eurocom Capital Finance Ltd., Sahar Investments Ltd., DBS Satellite Services
(1998) Ltd., MSN Israel Ltd., Eurocom Telecommunications SA, Eurocom Capital
Underwriting Ltd., Satcom Systems Ltd. During the past 5 years Mr.Elovitch was
also director in IP Planet Networks Ltd. and Discretics Technologies Ltd.

Amikam Shorer

Age 39, Mr.Shorer is Executive Vice President of Eurocom Communications Ltd. and
acts as a director in various companies of the of Eurocom Group. Mr. Shorer
holds a LLB from Bar Ilan University and is a member of the Israel Bar. Upon
completion of the Transaction Mr. Shorer was also appointed as a director of
Satcom. Mr. Shorer acts as a director in the following companies: Partner
Communications Ltd., Sahar Investments Ltd., DBS Satellite Services (1998) Ltd.,
Eurocom Telecommunications SA, Satlink Communications Ltd., Eurocom Capital
Underwriting Ltd., Satcom Systems Ltd. During the past 5 years Mr.Shorer was
also director in R.D.C Communications Ltd., IP Planet Networks Ltd., Discretics
Technologies Ltd. and Ranitech Ltd.

There is no further information to be disclosed pursuant to Schedule 2 paragraph
G of the AIM rules for companies

Gilat Satcom Ltd.:                                  +972 3 925 5015
Liat Helman, CFO

Commitment-IR:                                      +972 3 61144 66
Yael Nevat or Zion Bahloul

Seymour Pierce                                      +44 20 7107 8000
Stuart Lane or John Depasquale




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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