BUDAPEST -- Euroweb International Corp. ("Euroweb")(NASDAQ:EWEB - News) today announced that it has received a Binding Offer and signed exclusivity agreement with an international telecommunication company for the sale of Euroweb's two Internet and Telecom related operating subsidiaries, Euroweb Hungary Rt. and Euroweb Romania S.A. Euroweb agreed to refrain from negotiating until December 16, 2005 with any other party regarding the sale of the subsidiaries. Moreover, in connection with this proposed sale, the prospective buyer has deposited US $500,000 with Euroweb, which Euroweb will be entitled to if the proposed buyer withdraws its offer or withdraws from negotiations. The closing of the sale of Euroweb's Internet and Telecom related operating subsidiaries, of which we cannot provide any guarantee, is subject to the entering into an acceptable agreement with the proposed buyer, the approval of the respective competition offices in Hungary and Romania and the shareholders approval of Euroweb.

Euroweb's Chief Executive Officer, Csaba Toro, stated: "This proposed sale of our Internet and Telecom related businesses will represent the culmination of our efforts to simplify our business plan and continue to use our expertise to focus on IT outsourcing in Central and Eastern Europe as well as identify and develop emerging, under-serviced industries within the IT space and other industries as deemed appropriate. We began this process with the successful disposition of our former operating subsidiaries in the Czech Republic and Slovakia. With the expected disposition of these additional operating units in 2005 or early 2006, of which we cannot provide any guarantee, we will not only accomplish our strategic goals, but will also enable us to redeploy capital to acquire additional assets in the IT or other unidentified industries that we deem to be profitable."

Euroweb International