XFONE
TO DUAL LIST ON TEL AVIV STOCK EXCHANGE
July 19, 2006
JACKSON, MS – (PR NEWSWIRE) – July 19, 2006 – XFONE, Inc. (AMEX:XFN) (“XFONE” or “the Company”), an international diversified communications services company, today announced that the Israel Securities Authority and the Tel Aviv Stock Exchange (“TASE”) have approved the dual listing of the Company on the TASE. Trading on TASE is expected to commence on July 24, 2006. XFONE’s shares of common stock will continue to be listed on the American Stock Exchange (“AMEX”) trading under ticker symbol “XFN”, and will continue to be subject to all the rules and regulations of the AMEX and the U.S. Securities and Exchange Commission.
“In light of the growing success of XFONE’s international business operations, and particularly that of our Israel-based subsidiary, XFONE 018, we felt the time was right to pursue a dual listing on the TASE to help promote a broader and more convenient international, institutional investment and increased market support of XFONE,” stated Guy Nissenson, President and Chief Executive Officer of XFONE, Inc. Continuing, Mr. Nissenson added, “Additional advantages of the dual listing include longer trading hours and lower trading costs. We strongly believe that the dual listing will enhance XFONE’s market exposure and provide a larger global investment audience.”
“We are delighted to welcome XFONE to the TASE,” commented Ronit Harel Ben-Ze'ev, Senior Vice President and Head of the Economics Department at the Tel Aviv Stock Exchange. Ms. Harel Ben-Ze'ev added, “Nearly 35 companies whose shares are traded on the New York Stock Exchange (NYSE), the NASDAQ, or the London Stock Exchange (LSE) Main Market have already dual listed in the TASE. Dual listing exposes these companies to the Israeli investment community.”
About XFONE, Inc.
A U.S.-domiciled corporation, XFONE, Inc. is an international voice, video and data communications services provider with operations in the United Kingdom, the United States and Israel that offers a wide range of services, which include: local, long distance and international telephony services; prepaid and postpaid calling cards; cellular services; Internet services; messaging services (Email/Fax Broadcast, Email2Fax and Cyber-Number); and reselling opportunities. The Company serves customers across Europe, Asia, North, Central and South America, Australia and Africa.
This press release contains forward-looking statements.
The words or phrases "should," "would
be," "will allow," "intends to,"
"will likely result," "are expected to,"
"will continue," "is anticipated,"
"estimate," "project," or similar
expressions are intended to identify "forward-looking
statements." The Company's financial results reflected
above should not be construed by any means as representative
of the current or future value of its common stock.
All information set forth in this press release, except
historical and factual information, represents forward-looking
statements. This includes all statements about the company's
plans, beliefs, estimates and expectations. These statements
are based on current estimates and projections, which
involve certain risks and uncertainties that could cause
actual results to differ materially from those in the
forward-looking statements. These risks and uncertainties
include issues related to rapidly changing technology
and evolving standards in the industries in which the
Company and its subsidiaries operate; the ability to
obtain sufficient funding to continue operations, maintain
adequate cash flow, profitably exploit new business,
and license and sign new agreements; the unpredictable
nature of consumer preferences; and other factors set
forth in the Company's most recently filed annual report
and registration statement. Readers are cautioned not
to place undue reliance on these forward-looking statements,
which reflect management's analysis only as of the date
hereof. The Company undertakes no obligation to publicly
revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof. Readers
should carefully review the risks and uncertainties
described in other documents that the Company files
from time to time with the Securities and Exchange Commission.
| For More Information, Please Contact: |
 |
| U.S.
IR Contact |
John G. Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)
Phone: 1.203.972.9200.
E-mail: jnesbett@institutionalms.com |
|
| Xfone Contact |
|
Niv Krikov
Chief Financial Officer
Phone: 1.806.771.1181
E-mail: niv@xfone.com
5307 W. Loop 289
Lubbock, TX 79414-1610
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