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HTCC FILES WITH BELL OF CANADA AS ITS OPERATOR

 BUDAPEST, Hungary, Oct. 20 /PRNewswire/ -- Hungarian Telephone and Cable Corp. (NASDAQ: HTCC; BSE: HTC) announced today through its president, Peter E. Klenner, that HTCC intends to file tender applications with the Hungarian Telecommunications Ministry for concessions for seven of the 25 primary areas in Hungary that have been scheduled to become privatized with Bell of Canada as its designated operator. According to the new Telecommunications Act, the ministry must act on the concession applications within 90 days after the filing cut-off date of Nov. 29, 1993.
 Bell of Canada is the largest and most profitable telecom in Canada. BCE Inc. (NYSE: BEC), the parent company, owns between 34 percent and 100 percent of seven other international telecommunications companies.
 The company said it is proud to have Bell of Canada as an operator, bringing world-class knowledge and resources in helping operate its system.
 The company has received a letter of intent from Northern Telecom effectively stating that subject to licensing it will enter into a supply contract with HTCC and will finance or arrange financing for all the company's equipment needs.
 It is expected that the initial stage of the project will exceed 100,000 lines. The final stage has the total capacity of 200,000 lines. The total cost of the construction for the initial portion of the project is estimated to be $150 million. The company has received commitments for $35 million in construction financing and through its financial consultant, Touche Ross Management (London office), is currently negotiating for the balance of the construction funds with U.K. lending institutions. The company is confident that once the concessions have been awarded that the balance of the required funds will be available for the full completion of the project.
 -0- 10/20/93
 /CONTACT: Robert Genova, 212-571-7400, or fax: 212-571-2051, for the Hungarian Telephone and Cable Corp./
 (HTCC BEC)


CO: Hungarian Telephone and Cable Corp.; Bell of Canada ST: IN: TLS SU:

CK-JS -- NY007 -- 4344 10/20/93 07:55 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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