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To: changedmyname who wrote (46712)	1/25/1999 1:48:00 PM
From: lloyd bashaw	Respond to of 119973

EW YORK--(BUSINESS WIRE)--Jan. 25, 1999--Hungarian Broadcasting Corp. (NASDAQ: HBCO) (HBC) today announced that it has entered into an agreement to acquire 90% of STUDIO M PRODUCER, a local terrestrial station in the Ukraine. The parties have already made positive contact with relevant government offices in order to establish a National Ukranian Channel for youth and families under the name DIM TV. STUDIO M PRODUCER, which has been profitable since 1997, reaches 500,000 households or approximately 1.5 million people throughout the entire Carpatian region in the Ukraine and a 50-kilometer radius on the borders of Slovakia, Romania and Hungary. The Ukrainian market consists of approximately 54 million people and the Company is looking forward to expand in this high potential region.