Correction: changes in ownership of Netia’s shares by major shareholder
WARSAW, Poland – September 2, 2003 – Netia S.A. (“Netia”) (WSE: NET), Poland's largest alternative provider of fixed-line telecommunications services, today announced the following correction of information on ownership of Netia’s shares by funds managed and advised by Montpelier Asset Management Ltd (the “Shareholder”) based on information submitted to Netia on September 1 and September 2, 2003 by the Shareholder. Netia was informed that as of September 1, 2003 the Shareholder and funds managed and advised by the Shareholder jointly held: (a) 21,154,135 shares of Netia, and (b) 5,577,925 subscription warrants, entitling the Shareholder to acquire Netia’s series J shares. In addition to 3,000 shares of Netia previously held by Nicholas Cournoyer, Managing Director of Montpelier Asset Management Ltd and the Chairman of Netia’s supervisory board, Nicholas Cournoyer also owned as of September 2, 2003, 6,000 subscription warrants, entitling him 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 shares held by the Shareholder will give right to approximately 7.64% of the total number of votes at the general meeting of shareholders and will represent approximately 7.64% of Netia’s outstanding share capital. In all other respects Netia’s press release dated August 29, 2003 on changes in ownership of Netia’s shares by major shareholder remains unchanged.
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.