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HTCC FILES SEVEN APPLICATIONS FOR CONCESSIONS TO OPERATE LOCAL TELEPHONE EXCHANGE IN HUNGARY

 BUDAPEST, Hungary, Jan. 3 /PRNewswire/ -- HUNGARIAN TELEPHONE AND CABLE CORP. (NASDAQ: HTCC; BSE: HTC), announced today through its president Peter E. Klenner that HTCC filed tender applications with the Hungarian Telecommunications Ministry for connections for 7 of the 25 primary local areas in Hungary that have been scheduled to become privatized. According to the Telecommunications Act, the Ministry must act on the concession applications within 60 days after the filing cut- off date of Jan. 3, 1994.
 The national telephone network of Hungary was recently privatized with the sale of 30% of the national company ("MATAV") to Deutche Telecom and Ameritech for $875,000,000.
 According to the filings, concessions granted to the company will be operated by Bell of Canada International, Inc., and equipment will be supplied by Northern Telecom. The feasibility studies and business plans were prepared by Touche Ross Management (London office).
 The total cost of the construction for the initial portion of the project is estimated to be $150,000,000. The Company has received commitments in excess of $150,000,000 in construction financing from lending institutions, subject to being granted the concessions.
 -0- 1/3/94
 /CONTACT: Hungarian Telephone and Cable in Budapest, 361-209-0505, or fax, 361-209-0504/
 (HTCC)


CO: Hungarian Telephone and Cable Corp. ST: IN: TLS SU:

MP-PS -- NY034 -- 8502 01/03/94 12:25 EST
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Publication:PR Newswire
Date:Jan 3, 1994
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