Netia trading halted on Warsaw Stock Exchange on Netia's request and on Nasdaq pending provision of additional information
WARSAW, Poland - February 20, 2002 - Netia Holdings S.A. (Nasdaq: NTIA, WSE: NET) Poland's largest alternative provider of fixed-line telecommunications services, today announced that the trading of its shares on the Warsaw Stock Exchange was halted between 12:00 p.m. and 2 p.m. on Tuesday, February 19, 2002, at the Company's request. The trading of its American Depositary Shares ("ADSs") on the Nasdaq National Market was halted yesterday by Nasdaq prior to the start of the trading day. Trading was initially halted pending the dissemination of material news about the Company. Shortly thereafter, Nasdaq changed Netia's trading halt status to "additional information requested" from the Company. The Company is in the process of responding to Nasdaq's request for additional information, and trading will remain halted on Nasdaq until Netia has satisfied Nasdaq's request.
Netia is the leading alternative fixed-line telecommunications provider in Poland. Netia provides a broad range of telecommunications services including voice, data and Internet-access and commercial network services. Netia's ADSs are listed on the Nasdaq National Market (NTIA), and the Company's ordinary shares are listed on the Warsaw Stock Exchange. Netia owns, operates and continues to build a state-of-the-art fiber-optic network that, as at September 30, 2001, had connected 343,634 active subscriber lines, including 93,713 business lines. Netia currently provides voice telephone services in 24 territories throughout Poland, including in six of Poland's ten largest cities.
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 April 30, 2001, its Current Report on Form 6-K filed with the Commission on May 15, 2001, its Current Report on Form 6-K filed with the Commission on August 7, 2001, its Current Report on Form 6-K filed with the Commission on November 6, 2001, and its Current Report on Form 6-K filed with the Commission on January 18, 2002. The Company undertakes no obligation to publicly update or revise any forward-looking statements.