Current reports

WARSAW, Poland – May 15, 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 (“KDPW”) consideration of the Company’s applications, the management board of KDPW resolved on May 14, 2003, to: 1) register with KDPW 18,373,785 series III notes and assign them code No. PLNETIA00121; and 2) assign the following codes to Netia’s series J and K shares, respectively: PLNETIA00089 and PLNETIA00097. Netia stated that the period for lodging objections to crediting the investment accounts of the Company’s shareholders who owned Netia’s shares on December 22, 2002 (the “Eligible Shareholders”) with the warrants that were previously detached from series I notes ended on May 13, 2003 with no objections being lodged. In addition, the period for filing by the Eligible Shareholders the applications with CDM Pekao S.A. brokerage house to receive the warrants detached from series II notes (the “Applications”) ended on May 13, 2003. Applications were placed by 233 Eligible Shareholders who jointly owned 20,004,789 of Netia’s shares as of December 22, 2002. As a result, each Eligible Shareholder who filed the applications will receive one two-year warrant and one three-year warrant detached from series II notes for every 20 shares in Netia owned by such Eligible Shareholder as of December 22, 2002. For the purpose of this calculation, the number of shares owned as of December 22, 2002 by each Eligible Shareholder entitled to receive the warrants detached from series II notes will be rounded down to the nearest multiple of 20. As a result of such rounding, 103 two-year warrants and 103 three-year warrants detached from series II notes were not transferred to Eligible Shareholders and any rights arising thereunder will be terminated by the Company. Eligible Shareholders who filed the applications to receive the warrants detached from series II notes and who owned on December 22, 2002 less than 20 shares in Netia will not receive any warrants detached from series II notes. The series I, II and III notes do not give rise to substantial long- or medium-term indebtedness of Netia. The series I and II notes were issued solely in order to facilitate issuance of the warrants and series III notes were issued solely in order to facilitate the implementation of Netia stock option plan adopted by Netia’s supervisory board on June 28, 2002, as amended.

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.