Press Releases

Budapest, November 2, 2006 16:30

Magyar Telekom today announced that it had failed to publish proposed resolutions for its General Meeting to be held on November 15, 2006.

At its meeting held on October 2, 2006, Magyar Telekom's Supervisory Board, in line with the previous resolution of the Hungarian Financial Supervisory Authority (HFSA), decided on its own initiative to call a General Meeting to be held on November 15, 2006. The invitation to the General Meeting was published on October 13, 2006 and the meeting agenda included discussion of the company’s 2005 annual report as well as the proposal on the dividend payment. In accordance with Section 304   § (1) of Act IV of 2006 on Business Associations, as well as Magyar Telekom's Articles of Association, the company should publish at least 15 days prior to the date of the General Meeting, which intends to approve the annual report, at least the principal data of the balance sheet, summaries of the reports of the Board of Directors and the Supervisory Board, as well as other proposed resolutions of the General Meeting.

In spite of the fact that Magyar Telekom is committed to complying fully with the requirements and requests of the authorities that have jurisdiction over it and is seeking to have its annual results and dividend proposal approved as promptly as reasonable practicable, Magyar Telekom's management is not in a position to disclose the proposed resolutions as the submissions for the General Meeting are not available.