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30 June 2009

An amendment of the credit facility agreement concluded with the syndicate of banks arranged by Rabobank Polska S.A. (significant agreement) (36/2009)

Warsaw, Poland, 30.06.2009 – Netia S.A. (the “Company” or “Netia”) Poland’s largest alternative provider of fixed-line telecommunications services, announced that on 29 June 2009 the Company concluded an annex to the Amended and Restated Credit Facility Agreement (“Amended Facility Agreement”) with Rabobank Polska S.A. as the arranger, Bank Millennium S.A., Bank Gospodarki Żywnościowej S.A. and Raiffeisen Bank Polska S.A. (“Banks”), relating to the Facility Agreement concluded on 15 May 2007 (the “Facility Agreement”), (see Current reports No. 53/2007 dated 15 May 2007, No. 34/2008 dated 27 June 2008, No. 67/2008 dated 5 December 2008), pursuant to which the following changes were made to the Amended Facility Agreement:
  1. the total facility amount was decreased by PLN 80 mln from PLN 375 mln to PLN 295 mln (the amount of the term loan was decreased from PLN 325 mln to PLN 245 mln; the revolving loan has not changed and continues to amount to PLN 50 mln);

  2. Netia was granted consent to dispose of certain fixed assets whereby the first PLN 80 mln of proceeds may be retained by the Company without making mandatory facility prepayments. The specific assets consented are:
    • former head office real estate property located in Warsaw, Poleczki 13 Street, and
    • the transmission equipment used by Netia to provide backhaul services to P4 Sp. z o.o.(“P4”) under the UMTS transmission solutions delivery frame agreement (see current report No. 58/2006 dated 3 July 2006). Netia may sell the equipment to P4, 3 GNS Spółka z ograniczoną odpowiedzialnością spółka komandytowa (P4’s subsidiary) or any other P4’s subsidiary accepted by the Banks; and
  1. Netia was granted consent to use funds accumulated on its accounts to repurchase its own shares for a total consideration up to PLN 100 mln. Netia may utilize up to PLN 50 mln in each of 2009 and 2010.

Legal basis

Art. 56 section 5 of the Act on Public Offerings, the Terms Governing the Introduction of Financial Instruments into Organized Trading, and on Public Companies, and §5 section 1.3 of the Regulation of the Minister of Finance on current and periodic information disclosed by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state dated 19 February 2009 (Journal of Laws of 2009 No. 33, item 259).