Bulletin
Netia’s share capital as of January 1, 2004
WARSAW, Poland – January 8, 2004 – Netia S.A. (“Netia”) (WSE: NET), Poland’s largest alternative provider of fixed-line telecommunications services today announced its share capital has increased in connection with the exercise of certain warrants issued by Netia.
I. Share Capital. As of January 1, 2004, Netia’s issued and outstanding share capital was PLN 344,486,821 and represented 344,486,821 shares, PLN 1 par value per share, each share giving right to one vote at Netia’s general meeting of shareholders. A motion for the registration of the share capital increase by the Polish court was filed on January 7, 2003.
II. Warrants Issued. As of January 1, 2004, Netia issued 441,609 series J shares pursuant to the exercise of 280,665 two-year subscription warrants and 160,944 three-year subscription warrants by their holders at an issue price of PLN 2.53 per share. Each series J share entitles its holder to one vote at Netia’s general meeting of shareholders. Netia’s series J shares are publicly traded on the Warsaw Stock Exchange (“WSE”) under the same code as all other ordinary shares of Netia i.e. PLNETIA00014. The subscription warrants were exercised in accordance with Netia’s Polish prospectus, dated April 17, 2002, as amended.
III. Outstanding Warrants. As of January 2, 2004, the following warrants were traded on WSE: (a) 32,143,556 two-year subscription warrants were traded on WSE under the ticker “NETPPO2, entitling their holders to subscribe for Netia’s series J shares by April 29, 2005; and (b) 32,263,277 three-year subscription warrants were traded on WSE under the ticker “NETPPO3, entitling their holders to subscribe for Netia’s series J shares by April 29, 2006.
IV. Updated Information on Netia’s Share Capital. Current information on Netia’s share capital increases is constantly updated and made available at the Polish National Depositary for Securities and WSE as well as on Netia’s website (www.investor.netia.pl). The share capital as currently registered by the Polish court, in the amount of PLN 344,393,550, reflects the status as of December 1, 2003, and will be amended following the consideration of a motion for the share capital increase filed with the court on January 7, 2004. Share capital increases in connection with the exercise of Netia’s outstanding warrants will be announced both in Poland and in the U.S. in the form of a press release once a month by the 8th day of each month, and, in addition, each time in the event of an exercise of warrants constituting 5% or more of all warrants issued by Netia.
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 June 27, 2003, its Current Report on Form 6-K filed with the Commission on June 30, 2003, its Current Report on Form 6-K filed with the Commission on August 8, 2003, its Current Report dated August 13, 2003, its Current Report dated September 23, 2003, its Current Report dated October 1, 2003, its Current Report dated November 4, 2003 and its Current Report dated November 6, 2003 , its Current Report dated November 6, 2003 and its Current Report dated December 29, 2003. Netia undertakes no obligation to publicly update or revise any forward-looking statements.