Current reports

WARSAW, Poland – May 14, 2003 – Netia Holdings S.A. (the “Company” or “Netia”) (WSE: NET, NET2), Poland's largest alternative provider of fixed-line telecommunications services, announced today that following the Polish National Securities Depository’s (the “KDPW”) consideration of the Company’s applications filed on April 30, 2003, the Management Board of the KDPW decided, under resolution No. 216/03 dated May 14, 2003, to: 1) register by the KDPW: - 31,419,172 (thirty-one million, four-hundred and nineteen thousand, one hundred and seventy-two) series I notes and assign them code No. PLNETIA00105; - 1,005,154 (one million, five thousand, one hundred and fifty-four) series II notes and assign them code No. PLNETIA00113; and 2) assign the following codes to the subscription warrants attached to the above-mentioned notes: - assign code No. PLNETIA00139 to the subscription warrants constituting two-year rights to subscribe with priority over the Company’s shareholders for ordinary bearer series J shares of the Company at a nominal price of PLN 1 (one) per share (the Two-Year Warrants”); - assign code No. PLNETIA00147 to the subscription warrants constituting three-year rights to subscribe with priority over the Company’s shareholders for ordinary bearer series J shares of the Company at a nominal price of PLN 1 (one) per share (the “Three-Year Warrants”). The Company announced that on May 14, 2003, 32,424,326 Two-Year Warrants and 32,424,326 Three-Year Warrants were separated from the series I and II notes. The Two-Year Warrants and the Three-Year Warrants are to be transferred on May 16, 2003 to the accounts of the KDPW’s participants (brokerage houses and depositary banks, etc.) which maintain the securities accounts of the shareholders who held Netia’s shares on December 22, 2002 (the “Entitled Shareholders”). The actual date on which the subscription warrants will be recorded in the Entitled Shareholders’ securities accounts depends on the internal rules and procedures applied by the particular participants of KDPW. The series I and II notes do not give rise to substantial long- or medium-term indebtedness of Netia and have been issued solely in order to provide a means of distributing the subscription warrants.

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 Netia'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, its Current Report on Form 6-K filed with the Commission on October 1, 2002, its Current Report on Form 6-K filed with the Commission on October 15, 2002, its Current Report on Form 6-K filed with the Commission on October 17, 2002, its Current Report on Form 6-K filed with the Commission on October 22, 2002, its Current Report on Form 6-K filed with the Commission on October 25, 2002, its Current Report on Form 6-K filed with the Commission on November 5, 2002, its Current Report on Form 6-K filed with the Commission on November 5, 2002, its Current Report on Form 6-K filed with the Commission on November 6, 2002, its Current Report on Form 6-K filed with the Commission on November 18, 2002 , its Current Report on Form 6-K filed with the Commission on November 21, 2002, its Current Reports on Form 6-K filed with the Commission on December 3, 2002, its Current Reports on Form 6-K filed with the Commission on December 10, 2002, its Current Report on Form 6-K filed with the Commission on December 23, 2002, its Current Report on Form 6-K filed with the Commission on January 8, 2003, its Current Report on Form 6-K filed with the Commission on January 16, 2003, its Current Report on Form 6-K filed with the Commission on January 29, 2003, its Current Report on Form 6-K filed with the Commission on February 3, 2003, its Current Report on Form 6-K filed with the Commission on February 13, 2003, its Current Report on Form 6-K filed with the Commission on February 14, 2003, its Current Report on Form 6-K filed with the Commission on February 25, 2003, its Current Report on Form 6-K filed with the Commission on March 10, 2003, its Current Report on Form 6-K filed with the Commission on March 18, 2003, its Current Report on Form 6-K filed with the Commission on April 8, 2003, its Current Report on Form 6-K filed with the Commission on April 24, 2003, its Current Report on Form 6-K filed with the Commission on May 7, 2003 and its Current Report on Form 6-K filed with the Commission on May 7, 2003 . Netia undertakes no obligation to publicly update or revise any forward-looking statements.