Press Releases

Budapest, May 31, 2005

Magyar Telekom’s Macedonian subsidiary, Makedonski Telekomunikacii AD (MakTel) held its General Meeting and among other items it has made a decision on dividend payment in a total amount of MKD 5.8 billion (equalling around HUF 24 billion).

At MakTel’s General Meeting it was decided that the company will pay a dividend of MKD 5.8 billion (cca. HUF 24 billion) after the profit of year 2004. According to Macedonian Accounting Standards (MAS), MakTel on a standalone basis recorded a net income of MKD 1.6 billion for the year 2004. (MakTel Group, according to IFRS, recorded a net income of MKD 4 billion for the year 2004.)

The receivers of the dividend and their shareholdings are Stonebridge Communications AD (51%), the Government of the Republic of Macedonia (47.12%), IFC (1.88%).

Stonebridge is entitled to an amount of cca. MKD 3 billion (HUF 12.3 billion) as dividend payment. According to the current ownership structure, Magyar Telekom has 100% stake in Stonebridge.