Mar 10, 2003

Following the Successful Completion of its Restructuring Process, Gilat Announces Impending Changes in Top Executive Positions Shlomo Rodav expected to be new Chairman and former Cellcom executive Oren Most expected to be appointed new President and CEO at meeting of new Board of Directors in April

Petah Tikva, Israel, March 10, 2003 — Gilat Satellite Networks Ltd. (NASDAQ:GILTF), a worldwide leader in satellite networking technology, today announced the resignations of the company’s Chairman and CEO Yoel Gat and President Amiram Levinberg, both co-founders of the company effective upon the meeting of the new Board of Directors expected in April. The voluntary resignations open the way for the appointment of a new Chairman and President and CEO at the upcoming meeting of the new Board of Directors in April where it is expected that Shlomo Rodav will become Chairman of the company and Oren Most will be appointed the new President and CEO.

Both Rodav and Most join Gilat with a wealth of financial, business and managerial experience and are well positioned to carry the company forward into a new era of growth. Shlomo Rodav, who is expected to assume the position of Chairman of Gilat, is the successful owner and manager of numerous companies in the high-tech, infrastructure, environment, food and holdings areas.

Oren Most, who is expected to be appointed Gilat’s President and CEO, joins the company from Cellcom (Israel), the county’s largest and most successful cellular phone company, where he was one of the company’s founders and served as Deputy CEO and Head of the Customers Division.

Prior to his work at Cellcom, Most led two successful corporate turnarounds, as CEO of Keter, one of Israel’s largest book publishing and printing companies, and as Managing Director of Gibor-Sabrina’s Pantyhose Division. Oren Most’s experience also includes management positions in banking and venture capital in the United States. Most, 52, received his MBA degree from New York University in 1981.

The impending change in the company’s top executive positions coincides with the successful conclusion of Gilat’s restructuring plan that was authorized by the courts last Thursday. Both Gat and Levinberg, who are committed to helping the new Chairman and President and CEO make the transition with the existing Gilat professional management team, will continue in their present positions until the new Board is elected in April.

Yoel Gat, outgoing Chairman and CEO said, “After bringing the company’s restructuring plan to a successful conclusion, following which Gilat’s viability is no longer in question, I felt that stepping aside was the right thing to do. After sixteen great years that we have dedicated to Gilat, it was time to give a new management team the opportunity to take the Company forward to the next level.”