Budapest, July 12, 2010 15:30

Magyar Telekom (Reuters: NYSE: MTA.N, BÉT: MTEL.BU and Bloomberg: NYSE: MTA US, BÉT: MTELEKOM HB), the leading Hungarian telecommunications service provider announces that its Board of Directors today appointed Attila Keszég as Chief Sales and Services Officer of Magyar Telekom. He will take up his position as of September 1, 2010. In parallel, Mr Keszég will become member of Magyar Telekom’s Management Committee.

The Board of Directors has decided on changes to the management structure of the company on April 21, 2010 in order to further improve its effectiveness in responding to quickly changing market and economic conditions. In line with the decision, as an upgrade of the customer focused organization introduced in 2008, a more functional organization has been set up at Magyar Telekom as of July 1, 2010 in order to further improve decision making and flexibility of the company. In this framework the Board of Directors appointed a Chief Sales and Services Officer to ensure seamless end-to-end service to Magyar Telekom’s mass market customers.

Attila Keszég as Magyar Telekom’s new Chief Sales and Services Officer will be responsible for sales, customer service, technical services for customers, provisioning and logistics for customer premise equipment.

Attila Keszég (44) graduated at the Budapest University of Technology and Economics as a qualified mechanical engineer, then he attended an MBA course specializing in financial and management studies. He embarked on his career in 1992 at Heminway Holding, then he worked for Dove Mid Europe. In 1994 he joined Pepsi-Cola Company first as Key Accounts Director, then Project Manager, later Unit Manager Central Hungary managing field sales, delivery and warehousing. From 1999 he worked as Sales Director of Pepsi Hungary and from 2001, as Sales Tools Director Central and Eastern Europe and Sales Director for Traditional Trade Central and Eastern Europe, he was responsible for Hungarian, Polish, Czech and Slovak markets. From 2005 he has been General Manager of Red Bull Hungary, which achieved successful operation under his leadership amidst the global economic downturn.Throughout his career, he gained wide ranging experience in understanding consumer demand and its efficient satisfaction through commercial partners. As an executive trained in a competitive FMCG market environment, he achieved success through organizing and motivating his team while observing the efficient utilization of resources.

This investor news contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

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, 2009 filed with the U.S. Securities and Exchange Commission.