Netia shareholders’ claims challenging a shareholder resolution
WARSAW, Poland – November 25, 2003 – Netia S.A. (“Netia”) (WSE: NET), Poland's largest alternative provider of fixed-line telecommunications services, today announced that Millennium Communications S.A. and Genesis Sp. z o.o., two shareholders (the “Shareholders”) holding jointly 318 Netia’s shares which constitute 0.0000009% of Netia’s share capital, filed claims to the Regional Court in Warsaw requesting the invalidation of a resolution on Netia’s merger with certain of its wholly owned subsidiaries adopted by the Extraordinary General Meeting of Shareholders held on October 30, 2003 and separate claims to the District Court for the Capital City of Warsaw for the suspension of the proceedings on registration of Netia’s merger with certain of its subsidiaries in the relevant registry. Netia believes that the resolution of the Extraordinary General Meeting of Shareholders dated October 30, 2003 was adopted in compliance with law and that Netia’s merger with certain of its wholly owned subsidiaries does not violate any of the Netia’s shareholders’ rights. Due to those reasons the claims are obviously unsubstantiated. Netia intends to petition the court for the dismissal of the claims and request a payment of a tenfold amount of Netia’s court costs by the Shareholders, based on art. 423 of the Polish Commercial Companies Code.
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, its Current Report on Form 6-K filed with the Commission on August 8, 2003, its Current Report dated August 13, 2003, its Current Report dated September 23, 2003, its Current Report dated October 1, 2003, its Current Report dated November 4, 2003 and its Current Report dated November 6, 2003. Netia undertakes no obligation to publicly update or revise any forward-looking statements.