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To: Ken Brown who wrote (3279)	9/26/1998 1:04:00 AM
From: chester lee	Respond to of 18998

Ken, HBCO did have news, and it was quite positive. biz.yahoo.com Friday September 25, 12:07 pm Eastern Time Company Press Release Hungarian Broadcasting Corp. Granted National Satellite Broadcasting Rights in Slovakia NEW YORK--(BUSINESS WIRE)--Sept. 23, 1998--Hungarian Broadcasting Corp (NASDAQ:HBCO - news) announced today that its subsidiary (76.5% economic interest), M.A.C. TV, Ltd. (''MAC TV''), received approval from the Council of Slovak Republic for Radio and Television Broadcasting to amend its broadcasting license. The Council granted the Company national satellite-to-cable broadcasting rights and expanded MAC TV's permitted broadcasting time from eight hours per day to 24 hours per day. MAC TV's license is subject to renewal in 2007. MAC TV expects to complete agreements with all, or nearly all, cable television operators in Slovakia prior to November 1st, at which time 24 hour-per-day broadcasting will commence. MAC TV expects that its broadcasting reach will be 750,000 television households (2.2 million viewers) or approximately 41% of all television households in Slovakia as of November 1998. This broadcasting coverage will make MAC TV the second largest private station in the market compared to the approximate 80% broadcasting reach of private station Markiza. According to MAC TV Managing Director Marcel Dekanovsky, ''Net television advertising revenues in Slovakia in 1998 should exceed $80 million and should thereafter grow at double-digit rates. In 1999 and looking forward, MAC TV expects to capture in excess of 5% of the television advertising spending in Slovakia.'' Hungarian Broadcasting Corp. is a satellite-to-cable television broadcaster and media services company with four stations in Central and Eastern Europe with current total broadcasting reach of 13 million viewers. MSAT and SZIV currently reach about 39% of the television households in Hungary; the company's Galaxie TV Network in the Czech Republic currently reaches about 30% of the television households in the Czech Republic and MAC TV is expected to reach approximately 41% of television households in Slovakia in November. In addition, HBCO supplies film production services in Hungary. Operating with new management since January 1998, the Company has followed an aggressive growth strategy through acquisitions, joint ventures, and marketing initiatives,including agreements with Nickelodeon and MTV Networks. The statements contained in this press release regarding the Company's plans for the future development and operation of its business are forward-looking statements that involve risks and uncertainties. While management believes that the assumptions underlying these statements arereasonable, actual results could differ materially. Among the factors that could cause actual results to differ materially are: a lack of sufficient capital to finance the Company's business plan; the Company's inability to penetrate other markets; foreign currency fluctuations; the effect of economic conditions; the introduction of new technologies and competition; and other factors listed in the Company's Annual Report on Form 10-K, and other Company filings with the Securities and Exchange Commission.