Yes it can....
Total cost of tilting wall mount, £28 from ebay.
On the back there are 4 plastic blanking plugs, remove these & you will see the mounting holes.
I have this bracket which i will be fixing to the wall at the weekend.
http://www.amazon.co.uk/PLB103M-Uni...2?ie=UTF8&s=electronics&qid=1200439683&sr=8-2
£28 inc delivery
I bought this bracket and its excellent. Does stick out a little due to it being adjustable. Siutable for the 50". Easily worth it and highly recommended