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• KPN Vandaag

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Den Haag, 22-9-06

The State of the Netherlands has announced the sale of its remaining 167 million ordinary shares in KPN. KPN announces that it has entered into an agreement to repurchase 80 million ordinary shares from the State for a total consideration of approximately EUR 800 million. KPN will cancel all of the shares so repurchased. The combined sale by the State will represent approximately 8% of KPN’s outstanding share capital, the remaining stake in KPN.

KPN has on earlier occasions expressed its intention in principle to support a State-initiated sell down through a repurchase in order to further reduce the existing overhang in the market. In light of this opportunity, KPN has decided to include the remaining EUR 241 million of the EUR 1 billion share repurchase programme announced on 7 February, 2006 as part of today’s repurchase. Following this the share repurchase programme will be finalized. In total, KPN will have repurchased shares for a total value of EUR 1.56 billion this year.