Állami Nyomda Zrt. joins Budapest Stock Exchange Club of Quotables

11. October 2005.

This document is an advertisement approved by the HFSA and published by Állami Nyomda Zrt. (to be renamed Állami Nyomda Nyrt. upon registration of the change of company name) (the “Company”) as a disclosure in relation to the planned Hungarian listing of the company’s ordinary shares on the Budapest Stock Exchange pursuant to Act CXX of 2001 on the Capital Market. The prospectus to be prepared may only be published upon HFSA approval. In this case the prospectus will be published on the Company’s website (www.allaminyomda.hu). THIS DOCUMENT SHOULD NOT BE REGARDED AS A PROSPECTUS IN RESPECT OF THE SHARES MENTIONED IN THE ADVERTISEMENT, THEREFORE IT IS ADVISED TO REFRAIN FROM MAKING ANY BID ON THE BASIS HEREOF.

Press release

Budapest, 11 October 2005 – Állami Nyomda Zrt. (to be renamed Állami Nyomda Nyrt. upon registration of the change of company name) (the “Company”) has joined the Club of Quotables founded by the Budapest Stock Exchange. The Company believes that stock exchange presence may have significant advantages for domestic companies, therefore recently it has taken every step that may be required for a future stock exchange listing.
In line with its strategic objectives, in 2004 and 2005 Állami Nyomda established joint ventures and subsidiaries in Romania, Bulgaria, Russia and Slovakia in order to increase its market presence, and currently offers its products in 17 countries.

In order to raise funds for the Company’s future growth, the 22 September 2005 General Meeting of Állami Nyomda expressed its support for a possible stock exchange listing. For this purpose, the General Meeting passed a resolution to transform the Company into a public limited company.

Commenting on the Company’s accession to the Club of Quotables, Állami Nyomda CEO György Gyergyák said: “The ambitious growth plans and innovative solutions of Állami Nyomda present considerable financing requirements. While the Company has substantial internal funds for growth, we are continuously exploring various financing alternatives. We regard joining the Club of Quotables as a part of this process. In my opinion the corporate governance structure and transparency of Állami Nyomda already meets the requirements applicable to listed companies.”

“We are very pleased that a new, dedicated member, Állami Nyomda has joined the Club of Quotables, the BSE initiative launched in 2003. In addition to the companies that have already gone public, the Club now has about 40 members. The expanding membership and the companies that are to list in the near future all confirm that the concept is right and our active lobbying in recent months, the amendments to the Capital Market Act and the various measures aimed at boosting activity on the capital market and coordinated with the government will eventually create a favorable atmosphere for companies that intend to raise equity in the public market.” Budapest Stock Exchange CEO Zsolt Horváth said.

Állami Nyomda has recently won several regional tenders and received numerous international orders, which contributes to increasing its sales from foreign markets.

In October 2005 the Company – in consortium with Tipoholding and Tipo Direct of Romania – won two tenders issued by Romanian electricity distributor Electrica for the personalization of account statements. These contracts mean the personalization and enveloping of 2.7 million mailings on average per month.

Állami Nyomda is also involved as a subcontractor in supplying Albania’s new plastic card-based driver’s licenses and their issuance system. The purpose of this contract is to introduce a driver’s license with advanced document security solutions in the Southeast European country. The Company has already delivered the first 100,000 driver’s license cards and forms, and the issuance system was also implemented in June.

For further information, contact:
Teodóra Bodó, Budapest Stock Exchange, Phone: 429 68 66
Zita Csák, Capital Communications, Phone: 266 01 99