January 21, 2002

Matáv (NYSE: MTA.N and BSE: MTAV.BU), the leading Hungarian telecommunications service provider (registered office: 1013 Budapest, Krisztina krt. 55., Registry No.: Cg-01-10-041928), hereby announces, that in response to the requirement of Article 2 of Resolution No. III/85 996/2001 of the State Inspectorate of Financial Institutions of Hungary it has decreased all its controlling share in Első Pesti Telefontársaság Rt. (1183 Budapest, Haladás u. 5.) to 79,18% by means of selling its shares.