 Cellcom Israel Ltd. NYSE: CEL TASE: CEL the Company announced today that following the Companys previously announced potential debt offering in Israel, the Company is in preparations to raise up to NIS 200,000,000 in debentures and options to purchase ordinary shares of the Company, and subject to the completion of the contemplated offering, the Company has accepted early commitments from institutional investors for the purchase of an aggregate of 222,000 units, each comprised of 1,000 debentures Series L and 10 options Series 4, for NIS 906 per unit out of orders for approximately 560 thousand units received in the institutional tender. In consideration for making early commitments, the institutional investors will receive an early commitment commission in the amount of 0.5 of the immediate consideration for the units they undertook to purchase. 