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To: Jenna who wrote (71591)	11/15/1999 4:53:00 PM
From: Jenna	Respond to of 120523

EWEB. Euroweb Reports Third Quarter Operating Results; NEW YORK, Nov. 15 /PRNewswire/ -- Euroweb International Corp., (Nasdaq: EWEB - news), a leading Central European Internet Service Provider, announced through its Chairman, Frank R. Cohen, that revenues of its 49% owned affiliate, Euroweb Rt. were $808,560 for the third quarter of 1999 up 60% from the prior year period. For the nine months ended September 30, 1999 Euroweb Rt.'s revenues were $2,161,560, an increase of 60% from the nine months ended September 30, 1998. Net income of Euroweb Rt., the Company's 49% owned Hungarian affiliate, was $87,680 for the three months ended Sept. 30, 1999 and $393,410 for the nine months ended Sept. 30, 1999. Under equity accounting, the Company is credited with 49% of the affiliate's net income. Mr. Cohen stated that he was pleased with both the high rate of growth and solid profitability of the Hungarian operations. Hungarian Affiliate's Revenues Up 60%Deutsche bank and telecom own 10% stake! International Telecom owns 51% of EWEB. Chairman of both institutions have said that their goals is to grow EWEB to the No. 1 Web Site in Europe! Major customers include Deutsche Telecom, Vodafone, British Telecom! Some European newspapers say,"The 12 month target price for EWEB is $20 per share."