updated 3/28/2011 8:16:12 AM ET 2011-03-28T12:16:12

PETAH TIKVA, Israel, March 28, 2011 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (Nasdaq:GILT), a worldwide leader in satellite networking technology, solutions and services, today announced that its wholly owned subsidiary, Gilat to Home Peru S.A., has been awarded a new contract by Peru's Agency for Promotion of Private Investment (ProInversion) to provide Internet access and telephony services throughout the country's rural regions.





Present at the signing, from left to right: Arieh Rohrstock (Gilat); Nora Tejada Vidal (Technical Secretary-Fitel); Enrique Cornejo (Peru's Minister of Transportation and Communication); Yoav Bar-On (Israeli Ambassador in Peru); and Pablo Aranibar Osorio (President of Proinversion Committee).




A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8941

Valued at $14.5 million, the project is funded by Fondo de Inversion en Telecomunicaciones (FITEL), and is the sixth contract the ministerial agency has awarded Gilat in the past 12 years.

Gilat's solution is expected to connect over 770 communities across rural Peru, allowing more than 215,000 people access to essential communication services.

"Gilat has been at the forefront of delivering communication services in Peru for over a decade, and we are proud to be able to continue this important work and improve the quality of life for rural Peruvians. Through our repeated awards and successful service deployments in the country, we are committed to making a significant contribution to bridging the communication gap in the country," said Yair Shaharbany, Gilat's VP Global Operations and Customer Service.

With over 8,500 active sites across the country, Gilat to Home Peru is the leading provider of satellite communications in Peru.

The contract encompasses the provision of telecommunication services for remote rural communities located throughout Peru's Apurimac and Ene River Valleys and Camisea. The network is scheduled to be installed within a year and to provide services over the following four years.

About Gilat

Gilat Satellite Networks Ltd. is a leading provider of products and professional services for satellite-based broadband communications networks worldwide. Gilat was founded in 1987 and has shipped over 750,000 Very Small Aperture Terminals (VSATs) to more than 85 countries across six continents. Gilat's headquarters is located in Petah Tikva, Israel. The Company has 16 sales and service offices worldwide. Gilat develops and markets an expansive range of broadband satellite solutions including high-performance VSATs under the SkyEdgeTM and SkyEdge II brands, low-profile antennas for satcom-on-the-move, under the RaySat Antenna Systems and the StealthRayTM brands and next generation solid-state power amplifiers for mission-critical defense and broadcast satellite communications systems under the Wavestream brand. Gilat's wholly-owned subsidiary, Spacenet Inc., is a leading provider of managed services in North America to the business and government segments. Visit Gilat at www.gilat.com.

The Gilat Satellite Networks Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5848

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat's products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology and risks associated with Gilat's international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat's business, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission.

The Photo is also available via AP PhotoExpress.

CONTACT: Karen Mazor
         Phone: +972 54 22 88 039
         karenm@gilat.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.71%
$30K home equity loan FICO 5.26%
$75K home equity loan FICO 4.70%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.14%
17.14%
Source: Bankrate.com