Press Releases

Budapest, March 22, 2004 17:00

Matáv's Board of Directors and Supervisory Board have reviewed the 2003 annual reports of Matáv Ltd. and Matáv Group, prepared in accordance with Hungarian Accounting Rules (HAR), and propose them for approval to the Annual General Meeting.

In view of the Matáv Group's current level of profitability and solid financial position, Matáv's Board of Directors will propose to Shareholders a dividend payment of HUF 70 per share (par value HUF 100) for the financial year 2003. This level of dividend payment ensures that the Group capital structure will remain at the optimal level as defined in the dividend policy dated March 21, 2003.

The dividend policy allows Matáv to almost quadruple the dividend payment compared to last year. However in line with our strategy, growth through further value enhancing acquisitions remains Matáv Group's priority in the future.

Matáv will hold its Annual General Meeting on April 28th, 2004.