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Technology Stocks : Euroweb International - NASDAQ: EWEB -- Ignore unavailable to you. Want to Upgrade?

To: GARY P GROBBEL who wrote (249)	5/10/1999 10:22:00 AM
From: caly	Read Replies (1) \| Respond to of 566

Laying the foundation.... Monday May 10, 10:03 am Eastern Time Company Press Release SOURCE: Euroweb International Corp. Euroweb Announces Internet Access Service Contract With United Telecom Investment Local Telecom NEW YORK, May 10 /PRNewswire/ -- Euroweb International Corp. (Nasdaq: EWEB - news) reported through its Chairman, Frank R. Cohen, that the Company had been selected to provide Internet access and data transfer services to United Telecom Investment (''UTI'') which is one of the three major local concession telecommunications service companies in Hungary. Together with concession zones of the earlier contracts concluded with local telecom HTCC, and local telecom CG Sat - Matel, the other two major local telecoms, Euroweb will be able to reach nearly 700,000 telephone users and supply them with its Internet service. This is the approximately 19% of the total telephone users of Hungary. The Company expects these services to be initiated by UTI by June 1, 1999, and to contribute significantly to the Company's revenues going forward. Euroweb is a major Internet service provider in Hungary and has agreements to acquire significant Internet service companies in Slovakia and the Czech Republic. SOURCE: Euroweb International Corp.