PETAH TIKVAH, ISRAEL,  July 6,  2004/Satnews/ Oren Most, President and CEO of Gilat Satellite Networks Ltd., (Nasdaq: GILTF) announced  that he will be stepping down from his  position effective July 15, 2004. Mr. Shlomo Rodav, who has served as active Chairman of Gilat's Board of Directors for the past fifteen months, will become the Company’s CEO, in addition to his position as Chairman.

Regarding his resignation Most said, “When I joined Gilat at the beginning of 2003, in a most difficult time and in a deteriorated business situation of the Company, it was absolutely clear to me that the turnaround of the Company and a merger or acquisition were the ultimate goals for Gilat.” Most continued, “A turnaround plan was implemented and has begun to bear fruits. It is now clear to me that a merger or acquisition is not a present challenge which Gilat faces and as such, I have made the decision to move on to pursue a new opportunity.”

Shlomo Rodav, Gilat’s Chairman of the Board, said that he asked Most to stay in his position and that he is sorry about Most’s decision to step down. Rodav thanked Most for leading the Company during such a difficult and challenging period and for putting together the restructuring program to rehabilitate the Company and leading that program’s implementation successfully, a program which allows Gilat to move toward the position as the global leader in satellite networking. Rodav added that he wishes Most great success in his new endeavors.

Mr. Rodav will be taking over as the Company's new CEO effective July 15, 2004.