Press Releases

Budapest, March 18, 2008 13:00

Magyar Telekom’s Board of Directors has reviewed the 2007 annual reports of Magyar Telekom Plc. prepared in accordance with Hungarian Accounting Rules (HAR), and those of Magyar Telekom Group prepared in accordance with IFRS, and proposes them for approval to the Annual General Meeting. The Board of Directors also proposes a dividend payment of HUF 74 per share for the financial year 2007 for approval to the Annual General Meeting.

The proposed dividend level of HUF 74 per share (par value HUF 100) for the 2007 financial year reflects the Group’s solid financial position and strong cash flow generation in 2007. In line with its dividend policy, Magyar Telekom’s focus going forward remains on finding value accretive acquisition opportunities while maintaining its net debt ratio (net debt to net debt plus total equity) in the targeted band of 30-40%.

Magyar Telekom will hold its Annual General Meeting on April 25, 2008.