IGLDF Internet Gold Golden Lines Ltd (CE)

 Internet Gold - Golden Lines Ltd. (the “Company” or “Internet Gold”) (NASDAQ Global Select Market and TASE: IGLD).

As disclosed on October 6, 2019, the Company has been exploring potential strategic alternatives, including the sale of control of the Company as a shell company.

Following ongoing efforts, the Company today announced it received several offers from potential investors for the purchase of the Company's shares (the “Transaction”).

These offers will be presented to the Company's debenture holders, who will vote to determine the preferred offer. The offer that will be voted on will be included in the Company’s creditors’ arrangement and will be subject to the approval of the applicable Israeli court.

There can be no assurance that the offers will result in any transaction being entered into or consummated or, if a transaction is undertaken, as to its terms, structure or timing.

As previously announced, following the closing of the Searchlight Transaction, which is scheduled to occur on December 02, 2019, the Company will not be able to fully pay its debts and it intends to initiate a creditors’ arrangement which will be submitted to the applicable Israeli court pursuant to Section 350 of the Israeli Companies Law. The Company anticipates that pursuant to such arrangement, the existing shares of the Company will be nullified and that at the same time, the creditors of the Company and the party or parties to the new Transaction to be voted by the debenture holders (if completed) will receive, among other consideration, 100% of the outstanding shares of the Company.

About Internet Gold

Internet Gold is a telecommunications-oriented holding company whose principal asset is a 51.95% stake in B Communications Ltd., the owner of 26.34% of outstanding shares of Bezeq The Israel Telecommunication Corporation Limited, the leading communications group in Israel. On June 2019, Internet Gold entered into a transaction for the sale of its entire holdings in B Communications Ltd. For more information, please visit the following Internet sites:

www.igld.comwww.bcommunications.co.ilwww.ir.bezeq.co.il

Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the industry, changes in the regulatory and legal compliance environments, the failure to manage growth and other risks detailed from time to time in Internet-Gold’s filings with the Securities Exchange Commission. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.

There can be no assurance that the offers will result in any transaction being entered into or consummated or, if a transaction is undertaken, as to its terms, structure or timing.

For further information, please contact:

Doron Turgeman- CEOdoron@igld.com / Tel: +972-3-924-0000