Investor Releases

Resolutions of the Annual General Meeting of Westel Mobil Rt.

February 19, 2001

Matáv (NYSE: MTA.N and BSE: MTAV.BU), the leading Hungarian telecommunications service provider, today announced that Westel Mobil Rt., Matáv's mobile subsidiary held its Annual General Meeting on February 15, 2001 The annual report was approved, new members of the Board have been elected as well as a resolution has been made on a total of HUF 17,166,250,000 dividend payment.

The members of the new Board of Directors are:

Elek Straub, Matáv Rt. Chairman and CEO (Chairman);
Klára Armuth, Director of Matáv Rt. Financial Investment Branch;
Dr. Zsigmond Bodnár, Westel Mobil Távközlési Rt. Chief Financial Officer;
János Csák, Advisor to Matáv;
Moritz Gerke, DT AG Executive Vice President, International Directorate, Central and Eastern Europe, Middle East;
Michael Günther; T-Mobil International Chief Financial Officer;
Dr. Klaus Hartmann, Matáv Rt. Chief Financial Officer;
Manfred Ohl, Matáv Rt. Chief Technical Officer;
András Sugár, Westel Mobil Távközlési Rt. Chief Executive Officer;

As we reported earlier Westel's revenues were HUF 153.4 billion, EBITDA was HUF 59.0 billion and net income was HUF 35.5 billion in 2000 The detailed financial statements of Westel will be published in April, 2001