Investor Releases

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 the Office of the Macedonian Agency for Electronic Communication granted a UMTS license to T-Mobile Makedonija AD Skopje on December 17, 2008.

Budapest, December 23, 2008

T-Mobile Makedonija AD Skopje, the leading mobile operator in Macedonia and a fully owned subsidiary of Makedonski Telekom AD, is granted the right to use Macedonian UMTS frequency blocks for 10 years. The one-off license fee is EUR 10 million, which was paid in December 2008. Obligations include the launch of the service within 6 months, 50% population coverage within 1 year and 80% population coverage within 3 years from the date of granting the license.


Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Report on Form 20-F for the year ended December 31, 2007 filed with the U.S. Securities and Exchange Commission.

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