MTLK Metalink, Ltd. (MM)

 SAFE HARBOR STATEMENT

This press release contains "forward looking statements" within the meaning of
the United States securities laws. Words such as "aim," "expect," "estimate,"
"project," "forecast," "anticipate," "intend," "plan," "may," "will," "could,"
"should," "believe," "predicts," "potential," "continue," and similar
expressions are intended to identify such forward-looking statements. For
example, when we discuss our expectation for order volumes to ramp up, we are
using a forward looking statement. Because such statements deal with future
events, they are subject to various risks and uncertainties that could cause
actual results to differ materially from those in the forward looking
statements. Factors that could cause or contribute to such differences include,
but are not limited to: our need to raise additional funds in order for us to
implement our current business plan, including our liquidity requirements, which
funds may not be timely available to us which may lead to insolvency; our
inability to regain compliance with NASDAQ'S requirements for continued listing;
any unforeseen developmental or technological difficulties with regard to our
products; changes in the competitive landscape, including new competitors or the
impact of competitive pricing and products; and the impact on revenues of
economic and political uncertainties and weaknesses in various regions of the
world, including the commencement or escalation of hostilities or acts of
terrorism. Additional factors that could cause actual results to differ
materially from these forward-looking statements are set forth from time to time
in Metalink's filings with the SEC, including Metalink's Annual Report in Form
F-20. Readers are autioned not to place undue reliance on forward-looking
statements. Except as required by applicable law, the Company undertakes no
obligation to republish or revise forward-looking statements to reflect events
or circumstances after the date hereof or to reflect the occurrences of
unanticipated events. The Company cannot guarantee future results, events, and
levels of activity, performance, or achievements.

 (TABLES FOLLOW)

 METALINK LTD.

 CONSOLIDATED BALANCE SHEETS

 MARCH 31, DECEMBER 31,
 ------------ ------------
 2009 2008
 ------------ ------------
 (UNAUDITED)
 ------------
 (IN THOUSANDS EXCEPT SHARE DATA)
 ------------------------------




ASSETS
CURRENT ASSETS
 Cash and cash equivalents $ 7,892 $ 5,166
 Short-term investments 700 677
 Trade accounts receivable 506 2,515
 Other receivables 902 1,529
 Prepaid expenses 331 209
 Deferred charges 282 242
 Inventories 2,425 2,508
 ------------ ------------
 Total current assets 13,038 12,846
 ------------ ------------

SEVERANCE PAY FUND 1,170 1,195
 ------------ ------------

PROPERTY AND EQUIPMENT, NET 3,046 3,338
 ============ ============
 Total assets $ 17,254 $ 17,379
 ============ ============




LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
 Trade accounts payable $ 907 $ 739
 Other payables and accrued expenses 3,293 3,257
 Short-term loan 4,703 2,101
 Warrants to issue shares 517 196
 ------------ ------------
 Total current liabilities 9,420 6,293
 ------------ ------------

ACCRUED SEVERANCE PAY 2,027 2,098
 ------------ ------------

SHAREHOLDERS' EQUITY
 Ordinary shares of NIS 0.1 par value (Authorized - 50,000,000
 shares, issued and outstanding - 24,752,232 and 24,752,232 shares
 as of March 31, 2009 and December 31, 2008, respectively) 711 711
 Additional paid-in capital 156,663 156,500
 Accumulated other comprehensive loss - (124)
 Accumulated deficit (141,682) (138,214)
 ------------ ------------
 15,692 18,873
 ------------ ------------

 Treasury stock, at cost; 898,500 as of
 March 31, 2009 and December 31, 2008 (9,885) (9,885)
 ------------ ------------
 Total shareholders' equity 5,807 8,988
 ============ ============
 Total liabilities and shareholders' equity $ 17,254 $ 17,379
 ============ ============

 METALINK LTD.

 CONSOLIDATED STATEMENTS OF OPERATIONS

 THREE MONTHS ENDED MARCH 31,
 ------------------------------
 2009 2008
 ------------ ------------
 (UNAUDITED) (UNAUDITED)
 ------------ ------------
 (IN THOUSANDS,
 EXCEPT SHARE AND PER SHARE DATA)
 ------------------------------

Revenues $ 1,833 $ 660
 ------------ ------------
Cost of revenues:
 Costs and expenses 828 504
 Royalties to the Government of Israel 56 23
 ------------ ------------
 Total cost of revenues 884 527
 ============ ============

 GROSS PROFIT 949 133

Operating expenses:
 Gross research and development 2,942 8,492
 Less - Royalty bearing and other grants 352 798
 ------------ ------------
 Research and development, net 2,590 7,694
 ------------ ------------

 Selling and marketing 357 1,757
 General and administrative 512 708
 ------------ ------------
 Total operating expenses 3,459 10,159
 ============ ============

 OPERATING LOSS (2,510) (10,026)

Financial income (expenses), net (958) 241
 ------------ ------------

 NET LOSS $ (3,468) $ (9,785)
 ============ ============

Loss per ordinary share:
Basic $ (0.15) $ (0.42)
 ============ ============

Diluted $ (0.15) $ (0.42)
 ============ ============

Shares used in computing loss per ordinary share:
Basic 23,853,732 23,486,726
 ============ ============

Diluted 23,853,732 23,486,726
 ============ ============

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