WARSAW, Poland - July 31, 2001 - Netia Holdings SA (Nasdaq: NTIA, WSE: NET), Poland's largest alternative fixed-line telecommunications services provider, today announced that it is not considering any bankruptcy scenarios. Such announcement is made in connection with the multiple rumours and questions from investors in Warsaw regarding possible bankruptcy due to the continuous fall in the share price of the Company within the last couple of days.
Mattias Gadd, President & CEO said: "With our present cash position we feel comfortable and, as announced in the past, we are fully funded until the end of the first quarter 2002. I am positively looking at the next round of financing."
NETIA HOLDINGS is the largest alternative fixed-line telecommunications operator in Poland. Netia has 24 licenses for local telecommunications services in territories covering some 15 million people or approximately 40% of the Polish population, which include the most economically advanced parts of the country. The Company's existing local telephone license territories cover six of the country's ten largest urban areas including Warsaw, Krakow, Poznan, Gdansk, Lublin and Katowice. Netia has also secured the benefit of a nationwide data and IP license to provide data transmission and Internet-based services. In May 2000 Netia was issued a nationwide domestic long distance voice license.