Budapest, May 30, 2008 18:30

In its press releases issued on May 21 and 26, Magyar Telekom (the “Company”) informed the press and the investors about the findings of the ongoing investigation and the lawsuits filed against the company. The press releases contain all information that the Company is currently able to disclose about these cases. Notwithstanding the foregoing, following Magyar Telekom’s press releases, articles with unfounded allegations were published on the hvg.hu Internet portal, then in the Hungarian and international press with reference to said portal. Several of the allegations harm the good reputation of the Company and may mislead the Hungarian and international public (e.g. delisting from the New York Stock Exchange, obligation to pay billions as compensation, suggesting that the success of the legally unfounded demand to annul the resolution on dividend payment – that would be without precedent – is a likely event).

Magyar Telekom is involved in lawsuits filed by the companies of persons named as sources of information published on May 30 in a report of hvg.hu portal. Accordingly, our Company will present at Court its position on the subject of the lawsuits mentioned. (The news about criminal charges against Elek Straub and András Balogh being facts may serve the purpose of attracting attention but are not true.)  

The articles on Magyar Telekom published on the Internet portal include in other respects, too, numerous allegations which are inaccurate and unfounded – and what is more they are linked to each other according to a predefined concept, in a misleading way. We have already seen such allegations and methods in earlier hvg.hu articles and immediately protested against them. We publicly reject the repeated and now widened speculations and manipulative journalistic procedure in order to protect the Company’s good reputation and to ensure that credible information is provided to our shareholders and the public.