Investor Releases

July 01, 2003

Matáv (NYSE: MTA.N and BSE: MTAV.BU), the leading Hungarian telecommunications service provider, hereby announces that it sold 4,900,000 treasury shares on July 1, 2003 at an average price of HUF 784 and than reacquired these shares on the same day at the same price on the Budapest Stock Exchange through Concorde Értékpapír Rt. The aim of these transactions was to comply with Hungarian Act 1997 CXLIV 189/(5). As a result of the transactions the number of Matav's treasury stock remained 4,900,000.