KPN accelerates share repurchase program

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Den Haag, 21-5-10



KPN announces that it will with immediate effect accelerate the current, first, € 500m tranche of its € 1bn share repurchase program, in order to benefit from lower share price levels. Immediately upon completion of the first tranche, the second € 500m tranche will commence. The second tranche will run until 31 December 2010.

The acceleration allows KPN currently to buy back more shares within the repurchase program, which is in the interest of the company’s shareholders and underpins its attractive shareholder remuneration policy.

On 26 January 2010, KPN announced the € 1bn share repurchase program. To date, 35.4 million ordinary shares were repurchased at an average price of EUR 11.14 representing approximately 39.4% of the total program.