Investor Releases

Budapest, October 1, 2007 12:30

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 the Court of Registry has registered the following: the merger of T-Online Hungary Co. Ltd.’s internet access area into Magyar Telekom Plc; the integration of Emitel Co. Ltd. with Magyar Telekom Plc;   and the amendments to the Articles of Association of Magyar Telekom Plc adopted by the General Meeting of the Company held on June 29, 2007 (Decree Numbers 01-10-045736/2, 01-10-044389/109 and 01-10-041928/323).

From October 1, 2007, Magyar Telekom Plc will be the legal successor of Emitel Co. Ltd. and the access business line separated from T-Online Hungary Co. Ltd. The access business area will continue to operate under the T-Online brand within the Magyar Telekom Group. The legal successor of the remaining content area of T-Online Hungary Co. Ltd. will operate as “[origo]” Co. Ltd.

From October 1, 2007 Magyar Telekom Plc’s registered share capital will decrease by the nominal value of 22,700 shares.   At the same time, in compliance with the regulation on termination of the priority voting share (golden share) of the Hungarian state it will increase by the nominal value of 100 ordinary Series "A" Shares, being the equivalent of the terminated priority “B” series voting share.

Accordingly, the total share capital of the Company will change from HUF 104,276,831,500 (that consisted of 1,042,768,215 registered ordinary Series "A" Shares with a nominal value of HUF 100 each, and 1 registered Series "B" Voting Preference Share with a nominal value of HUF 10,000) to HUF 104,274,561,500 (consisting of 1,042,745,615 registered ordinary Series "A" Shares with a nominal value of HUF 100 each).

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, 2006 filed with the U.S. Securities and Exchange Commission.