Budapest, October 31, 2003 12:30

According to the contract signed today, Matáv has acquired 100% of Rába Szolgáltatóház Kft. for 900 million HUF. This acquisition gives Matáv the opportunity to include additional areas in its business development efforts and to enter the outsourcing market.

The strategic plans of the Matáv Group include the establishment of a competence center with headquarters in Győr, which will provide telecommunications, information technology, financial, accounting and human resource services for external companies, ensuring an IT background for businesses in Western Hungary. Matáv’s goal is to serve its key business partners also by providing outsourcing solutions in the future, primarily in IT and telecommunications markets. Rába Szolgáltatóház Kft. is expected to reach a revenue of approximately 900 million HUF according to the Hungarian accounting rules in 2003. The transaction requires the approval of the Competition Office.

It is also planned that by mid-November a framework service agreement will be signed with validity till 2012, under which Rába Szolgáltatóház Kft. will act as the outsourcing partner of the member companies of Rába Járműipari Holding Rt. in the field of telecommunications, information technology, financial, accounting and human resource services.