Investor Releases

Budapest, March 22, 2007

Magyar Telekom (Reuters: NYSE: MTA.N, BÉT: MTEL.BU and Bloomberg: NYSE: MTA US, BÉT: MTELEKOM HB), the leading Hungarian telecommunications service provider, announces that, following the departure of Dr. Tamás Pásztory, the Board of Directors has appointed Éva Somorjai as Chief Human Resources Officer of the Magyar Telekom Group as of April 1, 2007. The Board of Directors also decided to establish a new Chief Information Officer (CIO) position. A decision regarding the appointment of a CIO will be taken in due course.

Éva Somorjai has been with Magyar Telekom since 2001. She has been a Group Human Resources Director since 2002 and was involved in the preparation of the Group HR strategy, the HR support for international and domestic acquisitions, and the management of the Company restructuring and development program.

Éva Somorjai currently does not hold any Magyar Telekom shares.

This investor news contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not have undue reliance placed upon them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors are described in, among other things, our Annual Report on Form 20-F for the year ended December 31, 2005 filed with the U.S. Securities and Exchange Commission.