Netia and Ad Hoc Committee of bondholders lower acceptance threshold
WARSAW, Poland - April 3, 2002 - Netia Holdings S.A. (Nasdaq: NTIAQ, WSE: NET), Poland's largest alternative provider of fixed-line telecommunications services, today announced that, in connection with the consensual restructuring of its debt, Netia and the Ad Hoc Committee of its bondholders mutually agreed to lower the percentage of noteholders required to consent to the restructuring from 95% of the total value of all claims of the holders of the Notes, as required in the Restructuring Agreement, to 90% of the total value of all claims of the holders of the Notes. As of March 31, 2002, the Ad Hoc Committee had received consents from holders of over 90% of the Notes, approximately 7% of which had been executed on a conditional basis. Accordingly, Netia will continue the implementation of the 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. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
These materials are not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the Company and management, as well as financial statements.