Internet Gold Reports Record Revenues and Cash Flow From Operations for 2005

Name	Symbol	Market	Type
iShares Physical Metals plc	TG:IGLD	Tradegate	ETC

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	-0.7712	-1.45%	52.3878	52.1694	52.6042	53.4464	53.2001	53.4464	65	22:50:09

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2005 Revenues Up 36% to $64.7M; Q4 Revenues Up 33% to $17.6M PETACH TIKVA, Israel, February 7 /PRNewswire-FirstCall/ -- Internet Gold, (Nasdaq NMS: IGLD) today reported financial results for the fourth quarter and full year ended December 31, 2005. Highlights of 2005: - Record revenues: sales reach all-time high of $64.7 million, up 36% compared to 2004, nearly reaching the NIS 300 million milestone - Improving EBIT: operating income rose 14% year-over-year - Primary growth drivers: - 015 International Telephony: aggressive market share targets achieved, resulting in significantly expanded revenues - Internet Advertising: 5 new portals added to the Group in 2005, positioning IGLD as one of Israel's strongest Internet Media Groups - Business services: expanded offering of advanced IT services began contributing strongly to revenues in 2005 and promise stronger contribution in 2006 - Focus for 2006: continued growth in revenues and market share through expanded marketing activities and an increased advertising budget; improved profitability through efficiency measures Financial Results Revenues for the fourth quarter of 2005 reached a record NIS 81.1 million (US$ 17.6 million), an increase of 33% compared with NIS 61.1 million in the fourth quarter of 2004 and 11% compared with the third quarter of 2005. Operating income for the quarter was NIS 7.1 million (US$ 1.5 million), an increase of 1% compared to NIS 7.0 million in the fourth quarter of 2004 and 25% compared to NIS 5.7 million in the third quarter of 2005. Net income for the quarter was NIS 5.4 million (US $1.2 million), or NIS 0.29 (US$ 0.06) per share, compared to NIS 6.4 million, or NIS 0.35 per share, for the fourth quarter of 2004, and NIS 1.6 million, or NIS 0.09 per share, for the third quarter of 2005. Revenues for the full year 2005 were a record NIS 297.7 million (US$ 64.7 million), an increase of 36% compared to NIS 219.6 million in 2004. Operating income for the year was NIS 28.9 million (US$ 6.3 million), an increase of 14% compared with NIS 25.3 million in 2004. Net income for 2005 was NIS 18.3 million (US$ 4 million), or NIS 0.99 (US$ 0.22) per share, compared to NIS 19.5 million, or NIS 1.06 (US$ 0.23) per share, recorded in 2004. This reflected unusually high financing expenses of NIS 9. 4 million (US$ 2 million) reflecting primarily the higher-than-expected CPI in the second and third quarters and its affect on the Group's outstanding bond offering. Cash flow from operations in 2005 increased by 12% to a record NIS 42.8 million (US$ 9.3 million) compared with NIS 38.2 million for 2004. Comments of Management Commenting on the results, Eli Holtzman, Internet Gold's CEO, said, "We are pleased to report another record year for Internet Gold marked by a 36% increase in revenues, cash flow of nearly NIS 43 million, improving EBIT and across-the-board strategic progress. The increase in our revenues was driven by the success of our 015 International Telephony and Internet Advertising businesses combined with a significant increase in the scope of our Business Services. At the same time, our portal acquisitions, combined with the continued rapid development of Israel's Internet Advertising market, have significantly increased our revenues from this emerging sector." Mr. Holtzman continued, "Our plan for 2006 includes a strengthened focus on marketing efforts to continue building the top line, including an increased advertising budget to continue building our market share in the 015 and broadband access arena. In addition, we intend to continue expanding our Internet Media and e-Commerce businesses through additional acquisitions, joint ventures and creative marketing efforts. At the same time, we expect that the efficiency measures taken during the second half of 2005, including the unification of our Access and International Telephony call centers and other cost-cutting activities, will improve our results significantly beginning in 2006." Mr. Holtzman concluded, "Taken as a whole, we are satisfied with our performance during 2005 and are working to deliver additional top-line and bottom-line growth in the year ahead. Overview of Business Segments smile.net - access and access-related value added services: During 2005, sales of the Group's Business Division grew by 30% compared to 2004, and revenues from value added services (anti-spam, anti-virus, specialized content and WiFi home networking) grew by 39%. The Group's smile.biz services grew by 60% during the year, reflecting the Group's successful launch of IT infrastructure deployment and integration services to complement its hosting, website development and other Professional Services. In addition, during the quarter the Group launched its new e-Safe Secured Internet Access service for residential users based on state-of-the-art technology developed by Aladdin Knowledge Systems (NASDAQ:ALDN). The service allows Internet user to "surf" freely while protecting their computers against viruses, spyware, Trojan Horses and other on-line threats. Israel's broadband penetration is now among the highest in the world, with over 60% of households having Internet access, 91% of those with broadband Internet access, and 42% of surfers online at least 10 hours a week. smile.media - e-Advertising/Content: Revenues from the Group's portal operations grew significantly compared to 2004. During 2005, the Group added five Internet portals through acquisitions and joint ventures, establishing it as Israel's leading and most diverse Internet Media Group. As a result, Internet Gold currently owns a controlling interest and/or exclusive marketing rights to each of the following Internet advertising properties, enabling it to offer advertisers an extremely cost-effective means for reaching specific target audiences: - MSN-Israel (50.1% owned) - Hebrew language MSN Messenger, Hotmail Israel and MSN Search Israel; co-operations with top world's advertisers for content-branded channels - MSNJobs: Hebrew-language job search site - Start (100% owned) - Internet search engine and web directory site - Zahav.ru (100% owned) - Russian language portal - VGames (100% owned) - online games-for-fun - Seret (51% owned) - cinema portal (acquired in January 2006) - GetPrice (51% owned) - price comparison site - TheMoney (50.1% owned) - lead-generation financial portal - Hype/Tipo (50% owned) - children's portal - Nirshamim (50% owned) - portal for academics and university students - Net-Express (exclusive marketing rights) - Internet search engines and web directory site - GOOP (exclusive marketing rights) - youth portal smile.015 - International Telephony: during 2005, the Group built its share of Israel's International Telephony market to 8.5%, securing more than 300,000 residential customers, 5,000 commercial customers and a strong share of the country's Russian-speaking population. The Group has initiated trials of local telephony services and plans to launch these services commercially in early 2007. smile.shops - e-Commerce: 2005 revenues of P-1000, the Group's primary e-Commerce business, rose by 25% compared to 2004 and became profitable, and remained profitable during the fourth quarter. Internet Gold also owns 50.1% of MSN-Shops, 50% of dbook.co.il, Israel's #1 interactive book site, and 51% of Getprice.co.il, Israel's #2 comparison price engine. About Internet Gold Internet Gold is a group of communications companies that provide Internet access and related value-added services, international telephony, e-Advertising, content and e-Commerce services throughout Israel under the brand name "smile". The broad range and popularity of these services have established Internet Gold as one of Israel's leading Internet communications groups. The Internet Gold Group includes four subsidiaries. MSN-Israel, its 50.1% owned joint-venture with Microsoft Corp. (49.9% owned), provides Microsoft-branded Search, Instant Messaging, Hotmail and a variety of portal services. Internet Gold International, a fully-owned subsidiary, provides international Internet and communication services. GoldMind, a fully-owned subsidiary, provides value-added services to Internet subscribers. GoldTrade, the Group's fully-owned e-Commerce subsidiary, operates e-Commerce sites. For additional information about Internet Gold, please visit its Website at http://www.igld.com/. NOTE A: Convenience Translation to Dollars For the convenience of the reader, the reported NIS figures of December 31, 2005 have been presented in U.S. Dollars, translated at the representative rate of exchange as of December 31, 2005 (NIS 4.603 = U.S. Dollar 1.00). The U.S. Dollar ( $) amounts presented should not be construed as representing amounts receivable or payable in U.S. Dollars or convertible into U.S. Dollars, unless otherwise indicated. Certain statements made herein that use the words "estimate," "project," "intend," "expect," "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the Company to be materially different from those which may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in demand for the Company's services, inability to timely develop and introduce new technologies, services and applications and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with the Company's business, reference is made to the Company's Annual Report filed with the Securities and Exchange Commission and its other reports as filed from time to time with the Securities and Exchange Commission. For further information, please contact: Marybeth Csaby KCSA Worldwide +1-212-896-1236 In Israel: Meirav Be'eri Investor Relations +972-3-516-7620 Ms. Idit Azulay, Internet Gold +972-3-939-9848 Balance Sheets Convenience translation into US Dollars NIS 4.603=US$1 Consolidated Consolidated As at As at As at December 31 December 31 December 31 2005 2004 2005 (Unaudited) (Audited) (Unaudited) NIS thousands US$ thousands Assets Current assets Cash and cash equivalents 265,488 75,637 57,676 Short-term investment 804 - 175 Trade receivables, net 67,988 52,682 14,770 Other receivables 12,201 8,948 2,651 Deferred taxes 1,111 2,564 242 Total current assets 347,592 139,831 75,514 Investments Investments in investee companies 75 - 16 Deferred taxes 40 22 9 Other investments 200 - 43 315 22 68 Property and equipment, net 36,222 40,583 7,869 Other assets and deferred charges 117,889 114,956 25,611 Assets allocated to discontinued - 4,631 - operation Total assets 502,018 300,023 109,062 Internet Gold - Golden Lines Ltd. Convenience translation into US Dollars NIS 4.603=US$1 Consolidated Consolidated As at As at As at December 31 December 31 December 31 2005 2004 2005 (Unaudited) (Audited) (Unaudited) NIS thousands US$ thousands Liabilities Current liabilities Short-term bank loans 12,684 10,950 2,756 Accounts payable 55,987 73,383 12,163 Other payables 23,877 13,784 5,187 Accrued liabilities from marketable 1,045 - 227 securities Total current liabilities 93,593 98,117 20,333 Long-term liabilities Long-term loans and other long-term 33,570 72,117 7,292 obligations Deferred revenues - 3 - Liability for severance pay, net 7,506 6,240 1,631 Convertible debentures 218,676 - 47,507 Total long-term liabilities 259,752 78,360 56,430 Liabilities allocated to discontinued - 1,653 - operation Shareholders' equity Ordinary shares, NIS 0.01 par value (501,000,000 shares authorized; 18,431,500 shares issued and fully paid as at December 31, 197 197 43 2005) Proceeds from option warrants as at December 6,675 - 1,450 31, 2005 Additional paid in capital 216,864 215,040 47,114 Accumulated deficit (75,063) (93,344) (16,308) Total shareholders' equity 148,673 121,893 32,299 Total liabilities and shareholders' equity 502,018 300,023 109,062 Internet Gold - Golden Lines Ltd. Statements of Operations - Consolidated Convenience translation into US Dollars NIS4.603=US$1 Consolidated Consolidated Consolidated Three months ended Year ended Year Year Year ended ended ended December December December December December December 31 31 31 31 31 31 2005 2004 2005 2004 2003 2005 (Unaudited)(Unaudited)(Unaudited)(Audited)(Audited)(Unaudited) NIS thousands (except for per share data) US$ thousands Revenues 81,094 61,110 297,707 219,577 179,642 64,677 Costs and expenses: Cost of revenues 46,571 27,285 159,943 96,820 92,871 34,748 Selling and marketing expenses 18,121 20,408 75,710 73,155 41,393 16,448 General and administrative expenses 9,264 6,375 33,156 24,258 21,908 7,203 Total costs and 73,956 54,068 268,809 194,233 156,172 58,399 expenses Income from 7,138 7,042 28,898 25,344 23,470 6,278 operations Financing income (expenses), net (1,565) (131) (9,403) 122 (3,235) (2,043) Other (expenses) income, net 30 367 237 (1,077) (2,592) 51 Income from continued operations before income taxes 5,603 7,278 19,732 24,389 17,643 4,286 Tax expenses 230 (1,842) 1,451 (301) (1,935) 315 (income) Income after tax 5,373 9,120 18,281 24,690 19,578 3,971 expenses Company's share in net income (loss) of - 107 - (396) (1,538) - investees Income from continued operations 5,373 9,227 18,281 24,294 18,040 3,971 Company's share in loss of a subsidiary from discontinued - (2,817) - (4,763) (3,737) - operations Net income 5,373 6,410 18,281 19,531 14,303 3,971 Income (loss) per share, basic and diluted Net income per NIS 0.01 par value of shares (in NIS) from continuing 0.29 0.50 0.99 1.32 0.98 0.22 operations Net loss per NIS 0.01 par value of shares (in NIS) from discontinued operations - (0.15) - (0.26) (0.20) - Net income per NIS 0.01 par value of 0.29 0.35 0.99 1.06 0.78 0.22 shares (in NIS) Weighted average number of shares outstanding (in thousands) 18,432 18,432 18,432 18,432 18,432 18,432 DATASOURCE: Internet Gold CONTACT: For further information, please contact: Marybeth Csaby, KCSA Worldwide, +1-212-896-1236, In Israel: Meirav Be'eri, Investor Relations, +972-3-516-7620, Ms. Idit Azulay, Internet Gold, +972-3-939-9848,

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IGLD iShares Physical Metals plc