Budapest, June 5, 2008 11:00

As part of the continuation of Group-wide streamlining, Magyar Telekom’s CFO area will be reorganized from the beginning of July. The change aims to create a leaner and more efficient organization and to put more emphasis on both external and internal customers.

The current Treasury and M&A Execution and Investor Relations functions will merge to become the Capital Markets and Acquisitions Directorate, headed by Szabolcs Czenthe. The new Procurement Director will be Nóra Oláh, who will take over from July 15, 2008. Nóra Oláh previously worked for Alcoa-Köfém Ltd.

As part of the overall rationalisation, Magyar Telekom has centralised all its real estate functions under the CFO area. The Group Real Estate Services Directorate was created from three former organisations and is headed by the new director, Tibor Pollák.