The settlement of the purchase price for Netia’s acquiring shares of Zachodni – Inwestycje Telekomunikacyjne Sp. z o.o.
WARSAW, Poland – January 24, 2007 – Netia SA (“Netia”) (WSE: NET), Poland’s largest alternative provider of fixed-line telecommunications services, today announced, in addition to the press release regarding the acquisition of shares in Zachodni – Inwestycje Telekomunikacyjne Sp. z o.o. (“ZIT”) dated June 30, 2006, that the purchase price of the above shares was ultimately set on Jaunary 24, 2007 at PLN 15,540,821.40.
The shares in ZIT were acquired by Premium Internet SA, Netia’s subsidiary, on June 29, 2006 (see Netia’s press release dated June 30, 2006). In accordance with the terms of the transaction, the purchase price of the shares was to be ultimately set until January 22, 2007, based on the value of ZIT’s net assets as at 2006 year-end, and to be paid by January 31, 2007.