EWEB Global X Emerging Markets Internet and E Commerce ETF

Euroweb International Corp. (�Euroweb�, Nasdaq Capital Market � EWEB), announced today that in accordance with the Company�s program to repurchase shares of the Company�s common stock in the open market or in private transactions, the Company has purchased, as of October�26, 2006, 430,839 shares at a total cost of $890,012.12. Pursuant to the unanimous consent of the Board of Directors, the number of shares that may be purchased under the Repurchase Program shall be increased from 700,000 to 1,500,000 shares of common stock and the Repurchase Program shall be extended until October�1, 2007 or until the increased amount of shares is purchased. The Shemano Group is acting as the Company�s representative in connection with the 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 developing opportunities in the real estate industry through its wholly-owned subsidiary, Euroweb RE Corp., a Nevada corporation, and in other areas through various joint ventures. 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. Euroweb International Corp. ("Euroweb", Nasdaq Capital Market - EWEB), announced today that in accordance with the Company's program to repurchase shares of the Company's common stock in the open market or in private transactions, the Company has purchased, as of October 26, 2006, 430,839 shares at a total cost of $890,012.12. Pursuant to the unanimous consent of the Board of Directors, the number of shares that may be purchased under the Repurchase Program shall be increased from 700,000 to 1,500,000 shares of common stock and the Repurchase Program shall be extended until October 1, 2007 or until the increased amount of shares is purchased. The Shemano Group is acting as the Company's representative in connection with the 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 developing opportunities in the real estate industry through its wholly-owned subsidiary, Euroweb RE Corp., a Nevada corporation, and in other areas through various joint ventures. 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.