Hungarian Broadcasting Corp Watch

from 10QSB 1 page Agreement to Transfer Business Share

from POS AM 1 page Modification 1 of Agreement

from POS AM ~5 pages Material contract

from 10QSB 1 page Settlement Agreement With Nethold Development Bv

from SB-2/A ~10 pages Agreement Between the Company and Orion Atlantic

from SB-2/A 1 page <page> [Letterhead of J.W. Barclay & Co., Inc.] , 1996 Hungarian Broadcasting Corp. 445 Park Avenue New York, New York 10022 Re: Amendment to Mergers and Acquisitions Agreement Gentlemen: This Will Acknowledge That We Have Agreed to Extend the Term of the Mergers and Acquisitions Agreement Between US, Dated December 20, 1995, So That Same Shall Expire on , 2001. J.W. Barclay & Co., Inc. By: John A. Bruno, President Agreed To: Hungarian Broadcasting Corp. by , President

from SB-2/A 1 page Consulting Agreement

from 10KSB ~5 pages Material contract

from 10KSB 1 page Material contract

from 10KSB 1 page Material contract

from 10KSB ~10 pages Material contract

from 10KSB ~5 pages Material contract