Euroweb Acquires Navigator Group, a Hungary-Based IT Services Firm, for $10 Million

Navigator was acquired from Marivaux Investments Limited andGraeton Holdings Limited. Further information on Navigator and detailsof the acquisition can be located in the Form 8-K's that have beenfiled with the SEC.

Csaba Toro, Chief Executive Officer of Euroweb InternationalCorp., said, "We are very pleased that the acquisition of Navigatorwas completed on such a timely basis. We believe this acquisition maybe a key element in our future plans to redirect our company into newmarkets. Navigator will serve as our platform into the vast world ofIT services, and we intend to aggressively seek additionalopportunities in this industry."

Moshe Schnapp, President of Euroweb International Corp.,commented, "The decision to acquire Navigator is a step towardimplementing our strategy as stated by Csaba. This is a fresh newmarket for Euroweb. We see great opportunities to expand this firstmajor landmark deal into the IT sector and see this acquisition ofNavigator as a significant milestone for our company and ourshareholders. Euroweb intends to be a major player in theconsolidation of the IT industry in Hungary."

For more information about the Company go to:www.euroweb-international.com.

About Euroweb

Euroweb International owns and operates Internet ServicesProviders and value added services in Hungary and Romania through itswholly owned subsidiaries Euroweb Hungary Rt. and Euroweb Romania S.A.Euroweb's common stock is traded on the Nasdaq SmallCap Market underthe symbol "EWEB".

"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATIONREFORM ACT OF 1995

This press release contains forward-looking statements thatinvolve risks and uncertainties. The statements in this Release areforward-looking statements that are made pursuant to safe harborprovision of the Private Securities Litigation Reform Act of 1995.Actual results, events and performance could vary materially fromthose contemplated by these forward-looking statements. Thesestatements involve known and unknown risks and uncertainties, whichmay cause Euroweb International Corp's actual results in futureperiods to differ materially from results expressed or implied byforward-looking statements. These risks and uncertainties include,among other things, product demand and market competition. You shouldindependently investigate and fully understand all risks before makinginvestment decisions.