Press Releases

Budapest, November 26, 2003 15:00

Dr. Sándor Csányi, member of Matáv's Board resigned from his Board membership effective as of November 26, 2003.

Dr. Sándor Csányi said about his resignation: "My resignation is due to the fact that I plan to invest my private funds into a telecommunications company in the near future. Investment into a company representing the same industry while being a top official of Matáv would violate the relevant stipulations of the Companies Act and Matáv's Articles. Since my election on April 27, 2000 I have had the opportunity of being part of the European standard operations of Hungary's leading telecom operator and it has been an honor for me to contribute to the company's market success and stock performance through my professional work."

Matáv's management thanks Dr. Sándor Csányi again for his work carried out over the last close to four years as member of the Board.

The Board maintains its quorum and continuous operation. A decision on filling the vacant Board membership is expected to be made in April 2004 at the ordinary annual Shareholders' Meeting.