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

Euroweb International Corp. (Euroweb) (Nasdaq:EWEB),
today is proud to announce that Euroweb and Euroweb Hungary Rt.
(Euroweb Hungary), a wholly owned subsidiary of Euroweb, completed the
USD$10,000,000 acquisition of 100% of Navigator Group (Navigator), a
Hungary-based provider of IT outsourcing, applications development,
and IT consulting services.
   Navigator was acquired from Marivaux Investments Limited and
Graeton Holdings Limited. Further information on Navigator and details
of the acquisition can be located in the Form 8-K's that have been
filed with the SEC.
   Csaba Toro, Chief Executive Officer of Euroweb International
Corp., said, "We are very pleased that the acquisition of Navigator
was completed on such a timely basis. We believe this acquisition may
be a key element in our future plans to redirect our company into new
markets. Navigator will serve as our platform into the vast world of
IT services, and we intend to aggressively seek additional
opportunities in this industry."
   Moshe Schnapp, President of Euroweb International Corp.,
commented, "The decision to acquire Navigator is a step toward
implementing our strategy as stated by Csaba. This is a fresh new
market for Euroweb. We see great opportunities to expand this first
major landmark deal into the IT sector and see this acquisition of
Navigator as a significant milestone for our company and our
shareholders. Euroweb intends to be a major player in the
consolidation 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 Services
Providers and value added services in Hungary and Romania through its
wholly owned subsidiaries Euroweb Hungary Rt. and Euroweb Romania S.A.
Euroweb's common stock is traded on the Nasdaq SmallCap Market under
the symbol "EWEB".

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REFORM ACT OF 1995
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forward-looking statements that are made pursuant to safe harbor
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Actual results, events and performance could vary materially from
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