Acquisition of shares and subscription warrants of Netia S.A.
WARSAW, Poland – August 25, 2003 – Netia S.A. (“Netia”) (WSE: NET), Poland's largest alternative provider of fixed-line telecommunications services, today announced that its management board was informed by Polish Enterprise Fund IV, L.P. (the “Shareholder”) that as of August 25, 2003 the Shareholder held: (a) 9,012,520 shares of Netia, and (b) 18,520,889 subscription warrants, entitling the Shareholder to acquire Netia’s series J shares. The Shareholder informed Netia that upon conversion of all of its subscription warrants into series J shares, all Netia’s shares held by the Shareholder will give right to approximately 6.73% of the total number of votes at the general meeting of shareholders and will represent approximately 6.73% of Netia’s outstanding share capital, assuming that all subscription warrants issued by Netia are exercised and exchanged for 64,848,442 series J shares. The number of Netia’s subscription warrants set forth above includes 7,220,889 subscription warrants divided into 3,610,445 two-year subscription warrants and 3,610,444 three-year subscription warrants acquired by the Shareholder on August 21, 2003. In addition, Netia was informed by TeliaSonera AB that on August 21, 2003, TeliaSonera AB sold 3,610,445 two-year subscription warrants and 3,610,444 three-year subscription warrants of Netia.
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 Netia's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F filed with the Commission on June 27, 2003, its Current Report on Form 6-K filed with the Commission on June 30, 2003 and its Current Report on Form 6-K filed with the Commission on August 8, 2003. Netia undertakes no obligation to publicly update or revise any forward-looking statements.