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11 January 2005

Netia issues series K shares

WARSAW, Poland – January 11, 2005 – Netia SA (“Netia” or the “Company”) (WSE: NET), Poland’s largest alternative provider of fixed-line telecommunications services, today announced that on January 10, 2005 the Company issued, within its authorised capital, 163,088 ordinary bearer series K shares with a nominal value of PLN 1 each (“Series K Shares”) which give the right to 163,088 votes at Netia’s general meeting of shareholders, due to the exercise by certain persons authorized thereto of their rights arising from the performance stock option plan adopted by Netia’s supervisory board on June 28, 2002, as amended. By resolution No. 218/03 of May 14, 2003, the management board of Krajowy Depozyt Papierów Wartościowych w Warszawie SA (National Depository of Securities) assigned the Series K Shares with the PLNETIA00097 code.
Following this issuance and the exercise of the subscription warrants until January 1, 2005 (see press release dated January 7, 2005), Netia’s issued and outstanding share capital was PLN 367,119,413 and represented 367,119,413 shares, PLN 1 par value per share, each share giving right to one vote at Netia’s general meeting of shareholders.
The Series K shares were issued due to the exercise of rights attached to 163,088 ordinary bearer Series III notes, authorising their holders to subscribe for the Series K Shares prior to the Company’s shareholders, having a nominal value of 1 grosz (PLN 0.01) each (“Series III Notes”). In connection with the exercise of rights from the Series III Notes, the Company bought and redeemed 163,088 Series III Notes.
In connection with the above, Netia filed on January 11, 2005 the following motions: 
  • to assimilate on January 19, 2005 the issued Series K Shares by Krajowy Depozyt Papierów Wartościowych w Warszawie SA (the Polish National Depository for Securities) (“KDPW”) with the remaining Netia’s shares identified by a code “PLNETIA00014”; and
  • to admit the issued Series K Shares to trading on the Warsaw Stock Exchange from January 19, 2005, following their assimilation by the KDPW.