Investor Releases

The Extraordinary General Meeting of Matáv Hungarian Telecommunications Company Ltd. (Registry No.: Cg-01-10-041928, registered office: 1013 Budapest, Krisztina krt. 55.) held on September 29, 1997 decided to convert ordinary shares with a nominal value of HUF 10,000 to ordinary shares with a nominal value of HUF 100. The share conversion started on October 22, 1997 and finished on September 24, 2004.

Matáv Ltd. hereby informs its shareholders that shares with a nominal value of HUF 100 equivalent to not submitted shares with a nominal value of HUF 10,000 have been sold on the Budapest Stock Exchange on September 28, 2004 through an investment service provider at market price.

Shareholders who present shares with a nominal value of HUF 10,000 from this time on will not be entitled to deposit shares, but will receive the value of the sold shares. The amount paid for one share with a nominal value of HUF 100 will be the average selling price less the transaction cost and is equal HUF 800.69. Therefore HUF 80,069 is paid for one share with a nominal value of HUF 10,000.

Payments to shareholders will be made at KELER's offices (1075 Budapest, Asbóth u. 9-11., working days from 9.00 a.m. to 3.00 p.m. Monday-Friday, and in case of cash payments from 9.00 a.m. to 12 a.m.). To receive their entitled payment, shareholders will have to present the printed shares, particulars, certificates needed to identify the owner of the shares (name, address, date and place of birth, mother's name, tax number) as well as a certificate showing how much money they originally paid for the shares.