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16 February 2005

Netia closes subscription of series “I” shares


WARSAW, Poland – February 16, 2005 – Netia SA ("Netia") (WSE: NET), Poland's largest alternative provider of fixed-line telecommunications services, today announced that the subscription for its series “I” shares has been successfully completed.

 

There were 5,875,610 series “I” shares allocated out of a total of 18,373,785 series “I” shares offered in connection with the decision on early repayment of outstanding obligations resulting from Netia’s arrangement proceedings approved in 2002 (see Netia’s press releases dated November 8, 2004 and December 27, 2004). The series “I” shares were allocated to Centralny Dom Maklerski Pekao SA, with its seat in Warsaw (acting as the Netia’s creditors’ trustee) and Merrill Lynch Capital Services, Inc., with its seat in New York. The price of the series “I” shares was PLN 1.0826241 per share.