KPN commences EUR 1 billion share repurchase program

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Den Haag, 6-2-07

KPN commences the EUR 1 billion share repurchase program announced today in the release of the annual results 2006. KPN has mandated an intermediary to repurchase KPN shares in the open market on KPN’s behalf, starting tomorrow and ending on 31 December 2007, also allowing the execution of share repurchases during closed periods. With this EUR 1 billion share repurchase program KPN continues to deliver on its commitment to return unutilized surplus cash to shareholders.

The repurchase program will be executed in accordance with the terms of the mandate granted by KPN’s Annual General Meeting of Shareholders held on 11 April 2006. KPN will request approval for the extension of this mandate at the next Annual General Meeting of Shareholders, which is scheduled for 17 April 2007. During the repurchase program a weekly press release will be published with an update on the progress made. All repurchased shares will be cancelled.