EWEB Global X Emerging Markets Internet and E Commerce ETF

Euroweb International Corp. ("Euroweb", Nasdaq Capital Market - EWEB), announced the sale of its wholly-owned subsidiaries Euroweb Internet Szolgaltato Rt. ("Euroweb Hungary") and Euroweb Romania S.A. ("Euroweb Romania") to Invitel Tavkozlesi Szolgaltato Rt., a fixed-line operator based in Hungary ("Invitel"). The purchase price paid is US $30,000,000, reduced by the amount of any debt held in Euroweb Hungary and Euroweb Romania including USD $6,000,000 payable to Commerzbank. Shareholders holding a majority of the Euroweb's outstanding shares of common stock approved the sale of Euroweb Hungary and Euroweb Romania at the special meeting held to vote on such matter on May 15, 2006. Csaba Tor, the CEO of Euroweb, stated "this has been the culmination of our strategy that was first developed in 2002 pursuant to which we commenced evaluating various businesses across industries that included merging with companies, the disposition of its operating units, a sale of a significant amount of its assets or any combination of these items, which program was implemented commencing 2004 with the disposition of our assets in the Czech Republic and Slovakia. With the sale of our assets in Hungary and Romania we believe we are now positioned to redeploy capital to acquire additional assets in other as-yet unidentified industries that hold potential for profitability." About Euroweb International Corp. Euroweb International owns and operates an IT outsourcing company in Hungary through its wholly owned subsidiary, Navigator Informatika Rt. Euroweb's common stock is traded on the Nasdaq Capital Market under the symbol "EWEB". For more information about the Company go to: www.euroweb-international.com. "SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This press release contains forward-looking statements that involve risks and uncertainties. The statements in this Release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause Euroweb International Corp's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.