• Privé
• Zakelijk
• Corporate
• KPN Vandaag

• Artikel

Den Haag, 19-10-04

The investigation focused on specific business market customer segments in its fixed telephony voice business which represent annual revenues of approximately 300 million euros, or 2.5 % per cent of the company’s total annual revenues. Based on information currently available to the company, the value of the discounts in question is estimated to amount to approximately 15-20 million euros paid in aggregate over the period 2003-2004 to date, and to only marginal amounts in the three preceding years. These discounts do not appear to be permitted under the terms of the current tariff regime of the Dutch telecoms regulator, OPTA.

Ad Scheepbouwer, CEO, said:

“We are committed to maintaining the highest standards of governance. We are therefore reviewing and reinforcing our internal control procedures in order to prevent this from happening in the future. We raised and discussed this issue with the Supervisory Board and the Audit Committee, and have also informed OPTA.“

The Audit Committee, with the full support of KPN's Management Board, has launched an independent investigation into this matter. The Audit Committee has retained independent legal counsel.

The company reports its third quarter results on 1st November. It currently anticipates no changes in its historical consolidated financial statements.

Safe harbor

Certain statements contained in this press constitute forward-looking statements. These statements may include, without limitation, statements relating to the investigation into the discounts, statements concerning future results of operations, the impact of regulatory initiatives on KPN’s operations, KPN’s and its joint ventures' share of new and existing markets, general industry and macro-economic trends and KPN’s performance relative thereto, and statements preceded by, followed by or including the words “believes”, “expects”, “anticipates” or similar expressions. These forward-looking statements rely on a number of assumptions concerning future events and are subject to uncertainties, and other factors, many of which are outside KPN’s control, that could cause actual results to differ materially from such statements. A number of these factors are described (not exhaustively) in KPN’s Annual Report and Form 20-F for the year ended December 31, 2003.