Press Releases

Budapest, October 27, 2000

MATÁV (NYSE: MTA.N, BSE: MTAV.BU) held an Extraordinary General Meeting on October 27th, 2000.

The shareholders approved certain amendments to the Company's Articles of Incorporation. These amendments were prompted by changes due to organizational restructuring and corporate regulations.

The agenda of the EGM continued with submissions concerning the election of new members of both the Board of Directors and the Supervisory Board.

The following members of the Board of Directors have resigned earlier:
Timothy J. Cawley, William J. Edwards, Michael Payne, A. Vernon Weaver.
The membership of Dr. Zsolt Lajer was revoked by the EGM.
The following members of the Supervisory Board have resigned earlier:
Werner Vanderhaeghe, Larry Boyle.
The membership of Dr. Csaba Csapodi was revoked by the EGM.

Dr. Mark von Lillienskiold, Executive Director and representative of Deutsche Telekom in Hungary announced his resignation to the Board of Directors of MATÁV as of October 27th, 2000. He will continue working in MATÁV till late November. Dr. von Lillienskiold is Member of the Board of Slovak Telecom since August 2000 and will start his new assignment as Senior Executive Vice President and CFO as from December 1st, 2000. Dr. von Lillienskiold was Member of the Operating Committee and later the Executive Committee of MATÁV since May 1994. He has been elected Member of the Board in January 1996.

The shareholders elected the new members of the Board of Directors and the Supervisory Board.
Elected new members of the Board of Directors:
Detlev Buchal, Rudolf Gröger, Dr. Klaus Hartmann (nominated by MagyarCom),
Gyula Gansperger (nominated by the holder of the Golden Share).
Elected new members of the Supervisory Board:
Dr. Manfred Balz, Joachim Kregel (nominated by MagyarCom),
Dr. Gábor Germus (nominated by the holder of the Golden Share).

Members of Matáv's Board of Directors for the period ending with the Annual General Meeting closing the business year 2000:
Elek Straub (Chairman and CEO), Detlev Buchal, Dr. Sándor Csányi, Gyula Gansperger, Moritz Gerke, Rudolf Gröger, Dr. Klaus Hartmann, Franz X. Hiergeist, Dr. Mihály Patai.

Members of Matáv's Supervisory Board for the period ending with the Annual General Meeting closing the business year 2000: Hans Albert Aukes, Dr. Manfred Balz, Dieter Cazzonelli, Dr. Gábor Germus, Joachim Kregel, Dr. László Pap, József Szabó, György Varju, Péter Vermes.