HTC Hungarian Telephone And Cable Corp

Hungarian Telephone and Cable Corp. (AMEX:HTC) today announced that John B. Ryan has informed Hungarian Telephone's Board of Directors that he will retire at the end of the current board term in May. Hungarian Telephone's Board of Directors has elected Jens Due Olsen to its Board of Directors. Mr. Olsen, 43, is the Chief Financial Officer of GN Store Nord A/S, a Danish manufacturer of headsets and related products. Commenting on the Board changes, Jesper Theill Eriksen, the Chairman of Hungarian Telephone's Board of Directors, said, "On behalf of the entire Board of Directors and all of the stockholders of Hungarian Telephone, I want to express our thanks and gratitude to Jack Ryan for his long and dedicated service to Hungarian Telephone. He will be missed. We have begun a search to replace him on the Board and Audit Committee. I would also like to welcome Jens Due Olsen to our Board. He will make a great addition to the Board." 10-K FILING The Company's 10-K filing will be delayed until KPMG completes it audit. The Company is devoting all of its resources to getting the report filed as soon as possible. ABOUT HUNGARIAN TELEPHONE AND CORP. Hungarian Telephone and Cable Corp. is the leading alternative telecommunications service provider in the Republic of Hungary with a presence in other countries in Central and Eastern Europe.