The management board of Netia S.A. (“Netia”) announces that on 10 July 2006 it received a notification filed on behalf of Third Avenue Management LLC (the “Third Avenue Management”) that ownership of Netia’s shares, held by Third Avenue Management on behalf of its clients, has increased above the threshold of 10% of the total number of votes at Netia’s General Meeting of Shareholders.
According to the notification, as a result of the settlement on 6 July 2006 of a purchase of Netia shares effected on the Warsaw Stock Exchange, Third Avenue Management holds 39,051,680 Netia shares, representing 10.03% of Netia’s share capital and entitling the holder thereof to exercise 39,051,680 votes, which represents 10.03% of the total number of votes at Netia’s General Meeting of Shareholders.
Prior to this transaction, Third Avenue Management held 37,964,080 Netia shares, which represented 9.76% of Netia’s share capital, and was entitled to 37,964,080 votes, representing 9.76% of the total number of votes, at Netia’s General Shareholder Meeting.
Third Avenue Management does not exclude the possibility of further purchases of Netia shares during the period of the 12 months from the date of the notification. The decisions on further purchases of Netia shares by Third Avenue Management LLC, acting as a financial adviser of its clients, will be made on the basis of economical and profit maximizing aspects. The possibility of further purchases of Netia shares by Third Avenue Management, acting on behalf of its clients, will depend on the market price of Netia shares.