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KPN appoints Carla Smits-Nusteling as new CFO



Den Haag, 17-9-09

The Supervisory Board of Royal KPN N.V. announces its intention to appoint Mrs Carla Smits-Nusteling to KPN’s Board of Management as the company’s new Chief Financial Officer. Smits-Nusteling will assume responsibilities for this role with immediate effect. The Supervisory Board will inform shareholders on the appointment during an Extraordinary General Meeting of Shareholders (EGM) which is expected to be held in November.

Smits-Nusteling (43) joined KPN in 2000 and most recently held the position of Director of Corporate Control. Following the departure of Marcel Smits in May 2009, she also took on a number of CFO responsibilities. Smits-Nusteling previously worked for TNT, where she held several management positions.

Ad Scheepbouwer, Chief Executive Officer KPN: “We are very pleased with the appointment of Carla Smits-Nusteling. She will bring substantial financial and operational experience to the Board. The appointment further brings continuity to our financial policy which is aimed at creating shareholder value. Continuity is also important in achieving the goals set in our “Back to Growth” strategy, particularly in light of the current economic climate.”

The terms and conditions of Smits-Nusteling’s employment contract fit within KPN’s remuneration policy, as approved by the General Meeting of Shareholders. She will earn a base salary of EUR 425,000 per year. Smits-Nusteling is also eligible to a short term variable cash incentive and a long term variable incentive (based on conditional shares), which are both dependent on the performance of KPN.