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Den Haag, 8-9-11

KPN announces its intention to issue a benchmark Eurobond under its Global Medium Term Note programme. The proceeds of this bond will be used for general corporate purposes. The issue supports KPN’s aim of extending its debt maturity profile.

KPN’s financial policy aims to offer the company the flexibility to invest in and grow its business, in a way that maximises returns to shareholders while protecting the interest of bondholders. KPN’s optimum capital structure, as set out in its financial framework, involves maintaining a net debt to EBITDA ratio within the range of 2.0 to 2.5x and a minimum credit rating of Baa2 (Moody's) and BBB (S&P).

KPN’s net debt amounted to EUR 12.5 billion and the net debt to EBITDA ratio stood at 2.4 by the end of Q2 2011. KPN has a credit rating of BBB+ with a stable outlook by S&P and Baa2 with a stable outlook by Moody's.

ABN AMRO, BofA Merrill Lynch and The Royal Bank of Scotland have been appointed to act as joint book runners for this transaction.

For any further information please visit our website: www.kpn.com/bond.htm