Press Releases

Budapest, January 3, 2001

Standard and Poor's raised its long term foreign currency corporate credit rating on MATÁV, the leading Hungarian telecom service provider, to single "A" minus from triple "B" plus. The rating actions reflect the recent upgrade of the long term foreign currency issuer credit rating of the Republic of Hungary.

Standard & Poor's revised the outlook from positive to negative. The outlook reflects that of Deutsche Telekom's.

Matáv has been assigned a triple "B" plus foreign currency corporate credit rating by S&P on December 8, 2000.