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21 July 2003
Netia engages in transaction with an affiliate
WARSAW, Poland, July 21, 2003 – Netia Holdings S.A. (“Netia”) (WSE: NET), Poland's largest alternative provider of fixed-line telecommunications services, announced today that in connection with the on-going process of internal consolidation of the Netia group companies, on July 21, 2003, Netia bought from Mr. Aleksander Szwarc 20 shares, PLN 50 par value per share, of Telko Sp. z o.o. (“Telko”) with its seat in Warsaw, constituting 25% of Telko’s share capital and representing 12.66% of the voting powers at Telko’s general meeting of shareholders. The total value of the transaction equals PLN 1,000. Netia financed the transaction from its own capital. Following this transaction, Netia owns 80 shares of Telko constituting 100% of Telko’s share capital and representing 100% of the voting power at Telko’s general meeting of shareholders. Telko does not conduct any telecommunications activities.