Investor Releases

Magyar Telekom (Reuters: NYSE: MTA.N, BÉT: MTEL.BU and Bloomberg: NYSE: MTA US, BÉT: MTELEKOM HB), the leading Hungarian telecommunications service provider, today announced that Elek Straub, the company's Chairman and Chief Executive Officer, exercised his option to buy 899,964 Magyar Telekom shares on August 11, 2005. As a result, the number of treasury shares held by Magyar Telekom declined from 4,347,169 to 3,447,205.

Budapest, August 17, 2005

Elek Straub subsequently sold Magyar Telekom shares on the Budapest Stock Exchange through Concorde Értékpapír Rt. as follows:
date                          amount sold         average price
12 August 2005      244,522                HUF 931
15 August 2005      167,978                HUF 933
16 August 2005      487,464                HUF 947

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