EWEB Global X Emerging Markets Internet and E Commerce ETF

Euroweb International Corp. ("Euroweb") (Nasdaq:EWEB), announced today that the Company's Board of Directors has approved a program to repurchase, from time to time, at management's discretion, up to 700,000 shares of the Company's common stock in the open market or in private transactions commencing on June 20, 2006 and continuing through December 15, 2006 at prevailing market prices. The program was adopted as the Board of Directors as it believes the Company's market price is currently undervalued. Repurchases will be made under the program using the Company's own cash resources and will be in accordance with Rule 10b-18 under the Securities Exchange Act of 1934 and other applicable laws, rules and regulations. The Shemano Group will act as agent for the Company's stock repurchase program. About Euroweb International Corp. Euroweb International owns and operates an IT outsourcing company in Hungary through its wholly owned subsidiary, Navigator Informatika Rt. and is currently seeking opportunities in the real estate industry through its wholly-owned subsidiary, EWEB RE Corp., a Nevada corporation. 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.