HTC Hungarian Telephone And Cable Corp

Hungarian Telephone and Cable Corp. (AMEX:HTC) announced today that is set to join the broad-market Russell 3000� Index when Russell Investment Group reconstitutes its comprehensive set of U.S. and global equity indexes on June 22, 2007, according to a preliminary list of additions posted Friday on www.russell.com. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000� Index or small-cap Russell 2000� as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. Commenting on the inclusion in the Russell 3000 Index, Hungarian Telephone and Cable Corp.'s President and Chief Executive Officer Martin Lea said, "We are pleased about HTCC's inclusion in the Russell 3000 Index. HTCC's investors have shown their confidence in HTCC's strategy by their increased support of HTCC's traded securities." The Russell 3000 serves as the U.S. component to the Russell Global Index, which Russell launched earlier this year. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them. Annual reconstitution of Russell�s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000. These investment tools originated from Russell�s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers. ABOUT RUSSELL Russell Investment Group aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $200 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world�s best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors. Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto. Russell�s indexes are unmanaged and cannot be invested in directly. For more information on Russell indexes, go to www.russell.com. ABOUT HUNGARIAN TELEPHONE AND CABLE CORP. Hungarian Telephone and Cable Corp. is the number one alternative and the second largest fixed line telecommunications and broadband Internet Services Provider in the Republic of Hungary with more than 700,000 customers in Hungary. In addition to delivering voice, data and Internet services in Hungary, it is also a major player in the Central and Eastern European wholesale telecommunications market.