Investor Releases

April 18, 2002

According to the Hungarian Capital Market Act (2001 CXX 67/(1)), Matáv makes the following announcement:

Matáv (NYSE: MTA.N and BSE: MTAV.BU), the leading Hungarian telecommunications service provider announced today that it made a successful bid for the shares of Első Pesti Telefontársaság Rt. and it purchased 0.22% or 105 B series of dividend preferred shares of the company. Following the closure of the purchase offer, Matáv now has a 75.92% direct stake in EPT. Through its 100% owned subsidiary, Investel, it also has a further 3.48% indirect stake in the company.