Investor Releases

Supplement to the invitation to the annual general meeting of Matáv

March 31, 2003

Announcement of Matáv, Hungary's leading telecommunications service provider

According to Article 230 of Act CXLIV of 1997 on Business Associations the Board of Hungarian Telecommunications Company Limited (1013 Budapest, Krisztina krt. 55.) adds upon request of the majority shareholder the following Item 9 to the Agenda of the Company's Annual General Meeting held on April 25, 2003 at 11.00 and consequently changes the numbering of the next Agenda Item to 10.

'9. Proposal of the majority shareholder for the revision of the decision on the second stage of the Matáv Share Option Plan.'

The Announcement of General Meeting published on March 24, 2003 remains otherwise unchanged.