Euroweb International Comments Upon Sale by KPN Telecom B.V. of its Eu

    Business Editors/Internet Writers

    BUDAPEST, Hungary--(BUSINESS WIRE)--Feb. 3, 2005--Euroweb International Corp. ("Euroweb", Nasdaq SmallCap Market: EWEB), has been advised by KPN Telecom B.V. ("KPN") that KPN has entered into an agreement with CORCYRA d.o.o., a Croatian company ("CORCYRA"), pursuant to which CORCYRA, on February 1, 2005, purchased 289,855 shares of Euroweb's common stock from KPN and has agreed to purchase KPN's remaining 2,036,188 shares of Euroweb's common stock from KPN on or prior to April 30, 2006. In connection with the sale of the initial 289,855 shares, KPN's two representatives on the Euroweb board, Daniel Kwantes and Hans Lipman resigned as directors, and Ilan Kenig and Yossi Attia were appointed to the Board of Directors to fill their vacancies.
    Management and the directors of Euroweb have had discussions with representatives of CORCYRA as well as with Messrs. Kenig and Attia prior to the sale and are excited about the prospects these parties will offer Euroweb. The Board of Directors of CORCYRA has indicated that it will continue to support Euroweb's expansion strategy, as well as the extension of Euroweb's services. Csaba Toro, the CEO and a director of Euroweb, commented on the sale and appointment of Messrs. Kenig and Attia "We believe the sale to CORCYRA and the appointment of the new directors will fully complement our executive team and Board of Directors, as well as assist in the implementation of our current business model. We are now positioned to take advantage of several opportunities in Eastern and Central Europe. I am very pleased that Ilan and Yossi have joined our Board of Directors. Ilan has been involved in various aspects of the technology and telecommunications arena for the last 20 years and Yossi offers extensive experience in the capital markets area. We believe that each of these directors will bring a valuable perspective to our business strategy including our planned expansion plans."

    About Euroweb

    Euroweb International owns and operates Internet Services Providers in Hungary, Romania and Slovakia through its wholly-owned subsidiaries Euroweb Hungary Rt., Elender Business Communications Ltd., Euroweb Romania S.A. and Euroweb Slovakia a.s. Euroweb's common stock is traded on the Nasdaq SmallCap Market under the symbol "EWEB".

    About CORCYRA

    CORCYRA d.o.o is a Croatian corporation and Moshe Har Adir is the sole, officer, director and shareholder of CORCYRA. CORCYRA is currently a designated single asset company which is reviewing opportunities to merge or acquire one or more entities in order to maximize its resources.

    "SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include CORCYRA continuing to support Euroweb's expansion strategy, as well as the extension of Euroweb's services; the sale to CORCYRA and the appointment of the new directors will fully complement our executive team and Board of Directors, as well as assist in the implementation of our current business model; and we are now positioned to take advantage of several opportunities in Eastern and Central Europe. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, and other factors which may cause Euroweb International Corp.'s actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demands, market competition, regulatory concerns and rapidly changing technologies. You should independently investigate and fully understand all risks before making investment decisions. The forward-looking statements contained in this press release speak only as of the date hereof. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the U.S. Securities and Exchange Commission.

--30--TM/ny*

CONTACT: Euroweb International Corp. Kriszta Hollo, +36-1-88-97-101

KEYWORD: HUNGARY INTERNATIONAL EUROPE INDUSTRY KEYWORD: TELECOMMUNICATIONS NETWORKING INTERNET E-COMMERCE MERGERS/ACQ SOURCE: Euroweb International Corp.

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