Gilat Makes Key Financial Appointments

Petah Tikvah, Israel/December 17, 2003/Satnews/ Gilat Satellite Network, Ltd. (NASDAQ: GILTF), announced today that Mr. Yoav Leibovitch, CFO of the company, would be leaving his position to pursue other career opportunities. Mr. Leibovitch has served as the Company’s CFO and Vice President for Finance and Administration since joining Gilat in 1991. Gilat  has appointed Ms. Tal Payne, Vice President, Finance as Mr. Leibovitch's replacement and Mr. Yaron Suher Vice President, Financial Planning and Treasury. The changes will be implemented in the coming weeks.

Ms. Tal Payne has been serving as Gilat’s Financial Director. Prior to joining Gilat, Ms. Payne served as a CPA and Manager for Kesselman & Kesselman, PriceWaterhouseCooper’s Israel office.  She has a BA in Economics and Accounting as well as advanced studies in accounting, from Tel Aviv University.

Mr. Yaron Suher has been serving as Gilat’s Director, Financial Planning and Analysis.  Prior to joining Gilat, Mr. Suher worked as a senior economist for Teva Pharmaceuticals and as an analyst for Poalim Trust Funds. He has an MBA in Finance and a BA in Economics, both from Bar-Ilan University.

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