Netia makes announcement on interest payments
WARSAW, Poland - April 30, 2002 - Netia Holdings S.A. (Nasdaq: NTIAQ, WSE: NET), Poland's largest alternative provider of fixed-line telecommunications services, today announced that its subsidiary, Netia Holdings B.V., will not make interest payments of US$ 10,250,000 on the 10 1/4% Dollar Notes due 2007, US$ 10,887,000 on 11 1/4% Discount Dollar Notes due 2007 or an interest payment of approximately EUR 5,823,000 on the 11% Discount DM Notes due 2007. All of these interest payments are due on May 1, 2002.
As previously announced, Netia has reached an agreement with its bondholders concerning a consensual reorganization of its balance sheet to reduce its debt and interest burdens. This non-payment of interest announced today is in accordance with the agreed terms of Netia's restructuring.
Some of the information contained in this news release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. For a more detailed description of these risks and factors, please see the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F filed with the Commission on March 28, 2002 and it Current Report on Form 6-K filed with the Commission on April 3, 2002. The Company undertakes no obligation to publicly update or revise any forward-looking statements.