This Amendment No. 1 amends and supplements the Tender Offer Statement on Schedule TO filed by KCPS Satellite Communications, Limited Partnership, a limited partnership organized under the laws of the State of Israel, KCPS Satellite Holdings Ltd., a corporation organized under the laws of the State of Israel and KCPS PE Investment Management (2006) Ltd., a corporation organized under the laws of the State of Israel (collectively, the “Bidder Group”), on June 8, 2009 with the Securities and Exchange Commission (the “Schedule TO”), in connection with its offer to purchase 2,026,000 outstanding ordinary shares, NIS 0.20 par value per share (the “Shares”), of Gilat Satellite Networks Ltd. (“Gilat”), at $3.65 per Share, net to the seller in cash, less any applicable withholding taxes, and without interest, upon the terms of, and subject to the conditions to, the Offer to Purchase, dated June 8, 2009 (the “Offer to Purchase”) and the related Letter of Transmittal, copies of which were previously filed with the Schedule TO as Exhibits (a)(1)(A) and (a)(1)(B), respectively (which, together with any amendments or supplements thereto, constitute the “Offer”).

This Schedule TO is intended to satisfy the reporting requirements of Rule 14d-1 under the Securities Exchange Act of 1934, as amended. The information contained in the Schedule TO, the Offer to Purchase and the Letter of Transmittal is incorporated herein by reference in response to all of the items of this Amendment No. 1 to the Schedule TO, except that such information is hereby amended and supplemented to the extent specifically provided herein. Capitalized terms used herein but not otherwise defined have the meaning ascribed to such terms in the Offer to Purchase.

ITEM 4. TERMS OF THE TRANSACTION.

Item 4 of the Schedule TO, which incorporates by reference the information contained in the Offer to Purchase, is hereby amended and supplemented as follows:

1. The following paragraphs are inserted following the third paragraph under heading “Background” on page 4 of the Offer to Purchase:

        “More specifically, we requested from the SEC exemptive relief from Rule 14d-7(a)(1) – which requires that any person who has deposited securities pursuant to a tender offer will have the right to withdraw any such securities during the period such offer remains open – and no action relief from Rule 14e-1(c) – which requires that a bidder making a tender offer is required to pay the consideration offered promptly after the termination of the offer – to allow us to conduct a four-calendar day additional offering period following the completion of the Initial Offer Period during which no withdrawal rights will be available and to pay for Gilat shares tendered during the Initial Offer Period and Additional Offer Period, subject to proration if any, within four U.S. business days of the expiration of the Additional Offer Period.

        In early May 2009, we offered York to enter into a voting agreement with respect to Gilat shares effective upon the successful consummation of the Offer. On May 24, 2009, the respective legal counsels of KCPS PE and York began discussing the terms of a voting agreement, and considered the nomination and election of a joint slate of directors. In subsequent days until June 5, 2009, the parties negotiated the specific terms of the voting agreement, including the scope and term of any additional cooperation regarding their respective investments in Gilat.”

2. The following paragraph is inserted following the first paragraph under heading “Voting Agreement” on page 6 of the Offer to Purchase:

        “Following the successful completion of the offer, upon effectiveness of the voting agreement, we will be deemed to beneficially own the Gilat shares held by York in addition to any Gilat shares that we will hold directly.”