Investor Releases

Matáv announces sale of shares

November 27, 2002

Matáv (NYSE: MTA.N and BSE: MTAV.BU), the leading Hungarian telecommunications service provider, hereby announces that its subsidiary, Investel Rt., sold 263,301 Matav shares on November 25th,2002 at an average price of HUF 884 and on November 26th further 385,526 shares at an average price of HUF 879 on the Budapest Stock Exchange through CA-IB Értékpapír Rt.