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SUP: Matav's rating affirmed, outlook positive, in line with DT.

Europe Intelligence Wire

| May 28, 2004 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Hungarian News Agency (MTI))

Budapest, May 28, 2004 (MTI-ECONEWS)- Standard U Poor's Ratings Services said Friday that it affirmed its 'BBB+' long-term corporate credit rating on leading Hungarian fixed-line and mobile telecommunications operator Magyar Tavkozlesi Rt. (Matav). At the same time, the rating was removed from Creditwatch, where it had been placed on March 10, 2004. The outlook is now positive.

The rating action is in line with that on Matav's majority shareholder Deutsche Telekom (BBB+/Positive/A-2) which SUP announced earlier on Friday.

The following is the text of the SUP press statement:

"DT holds a 59.2pc stake in…

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