Current reports

WARSAW, Poland - October 15, 2002 - Netia Holdings S.A. ("Netia") (WSE: NET), Poland's largest alternative provider of fixed-line telecommunications services (in terms of value of generated revenues), announced today that the Nasdaq Listing Qualifications Panel decided to de-list Netia's American Depositary Shares ("ADSs") from The Nasdaq Stock Market, effective as of the opening of the business on October 15, 2002. Netia is considering requesting the review of this decision by the Nasdaq Listing and Hearing Review Council. In its decision, dated October 14, 2002, the Nasdaq Listing Qualifications Panel determined that the continued listing was no longer appropriate due to the substantial period of time during which Netia has failed to comply with the minimum net tangible assets/shareholders' equity requirement and the ongoing restructuring proceedings. The Nasdaq Listing Qualifications Panel also invited Netia to reapply for listing on The Nasdaq Stock Market subject to compliance with the initial listing standards upon completion of the restructuring. Starting October 15, 2002, Netia's ADSs are eligible to trade over-the-counter. Wojciech Mądalski, Netia's President and Chief Executive Officer, commented: "Factors surrounding the ongoing debt restructuring were largely the cause of Netia's non-compliance with Nasdaq requirements for continued listing. Post restructuring, Netia will possess a healthy balance sheet and available capital resources to pursue its strategic objectives. Netia's ordinary shares will continue to trade on the Warsaw Stock Exchange, the company's home/primary market."

Some of the information contained in this news release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. For a more detailed description of these risks and factors, please see the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 20-F filed with the Commission on March 28, 2002, its Current Report on Form 6-K filed with the Commission on April 3, 2002, its Current Reports on Forms 6-K filed with the Commission on May 6, 2002, its Current Report on Form 6-K filed with the Commission on May 7, 2002, its Current Report on Form 6-K filed with the Commission on May 20, 2002, its Current Report on Form 6-K filed with the Commission on May 24, 2002, its Current Report on Form 6-K filed with the Commission on June 28, 2002, its Current Report on Form 6-K filed with the Commission on July 2, 2002, its Current Report on Form 6-K filed with the Commission on July 31, 2002, and its Current Report on Form 6-K filed with the Commission on August 2, 2002, its Current Reports on Form 6-K filed with the Commission on August 6, 2002, its Current Report on Form 6-K filed with the Commission on August 9, 2002, its Current Report on Form 6-K filed with the Commission on August 15, 2002 its Current Report on Form 6-K filed with the Commission on August 16, 2002, its Current Report on Form 6-K filed with the Commission on August 28, 2002, its Current Report on Form 6-K filed with the Commission on August 30, 2002, its Current Report on Form 6-K filed with the Commission on September 16, 2002, its Current Report on Form 6-K filed with the Commission on September 20, 2002, its Current Report on Form 6-K filed with the Commission on September 24, 2002 and its Current Report on Form 6-K filed with the Commission on October 1, 2002. The Company undertakes no obligation to publicly update or revise any forward-looking statements.