Magyar Telekom (Reuters: NYSE: MTA.N, BÉT: MTEL.BU and Bloomberg: NYSE: MTA US, BÉT: MTELEKOM HB), the leading Hungarian telecommunications service provider, today announced that due to options exercised as part of the company’s management incentive program the number of treasury shares held by Magyar Telekom declined from 3,038,607 to 2,928,841 as of September 23, 2005 and to 2,874,841 as of September 26, 2005.