KPN controls 97,6% of the ordinary shares in Getronics

11/6/2007, 8:00 AM (Source: GlobeNewswire)

This is a joint press release of KPN ICT Services B.V. and Getronics
N.V. which is required pursuant to the provisions of article 9b
paragraph 1 of the Dutch Securities Markets Supervision Decree 1995
(Besluit toezicht effectenverkeer 1995). This press release is not
for release, distribution or publication, in whole or in part, in or
into the United States of America, Canada, Australia, Japan and
Italy. The offers for ordinary shares and convertible bonds of
Getronics N.V. are not made in or into the United States of America,
Canada, Australia, Japan and Italy.

The Hague, Amsterdam, 6 November 2007

KPN controls 97.6% of the ordinary shares in Getronics
Following the press releases of 30 July 2007, 29 August 2007, 11
September 2007, 8 October 2007, 15 October 2007 and 23 October 2007
KPN ICT Services B.V. (the "Offeror"), a directly wholly owned
subsidiary of Royal KPN N.V. ("KPN"), and Getronics N.V.
("Getronics") jointly announce the result of the post acceptance
period which ended at 15:00 hours, Amsterdam time, on 5 November
2007, for the recommended public offers for all the issued and
outstanding ordinary shares ("Shares") in the share capital of
Getronics ("Offer I") and for all outstanding unsubordinated
convertible bonds 2008 (ISIN:NL0000113777, "2008 Bonds"), all senior
unsecured convertible bonds 2010 (ISIN:XS0231573147, "2010 Bonds")
and all senior unsecured convertible bonds 2014 (ISIN:XS0279778558,
"2014 Bonds" together with the 2008 Bonds and the 2010 Bonds,
"Bonds") in the capital of Getronics (respectively "Offer II", "Offer
III", "Offer IV", and together with Offer I "Offers").

During the post acceptance period, 6,148,850 Shares, equal to 4.2% of
the total number of Shares, 44 2008 Bonds, equal to 0.4% of the total
number of 2008 Bonds, and 5 2010 Bonds, equal to 0.2% of the 2010
Bonds, have been tendered for acceptance under the Offers. Together
with the Shares tendered and accepted during the initial tender
period, conversion of the cumulative preference shares into Shares
and the Shares acquired in ordinary stock exchange trading on
Euronext Amsterdam until 5 November 2007, the Offeror holds 97.6% of
the Shares, 99.2% of the 2008 Bonds, 99.3% of the 2010 Bonds and 100%
of the 2014 Bonds.

With reference to the offer memorandum dated 11 September 2007 (the
"Offer Memorandum") and the press releases dated 11 September 2007,
15 October 2007 and 23 October 2007, holders of Shares
("Shareholders") who accepted Offer I shall receive an amount in cash
equal to EUR 6.25 per Share, inclusive of any dividend payable for
the financial year 2007 ("Offer Price I"), for each Share validly
tendered (or defectively tendered provided that such defect has been
waived by the Offeror) and delivered (geleverd) on the terms and
subject to the conditions and restrictions of the Offers as described
in the Offer Memorandum on 12 November 2007 (the "Settlement Date").
On the Settlement Date, holders of Bonds ("Bondholders") who accepted
Offer II shall receive an amount in cash equal to EUR 1,040 per 2008
Bond ("Offer Price II") and no accrued interest given that the coupon
is paid on 5 November 2007. Bondholders who accepted Offer III or
Offer IV shall receive an amount in cash equal EUR 50,500 per 2010
Bond ("Offer Price III") and EUR 52,500 per 2014 Bond ("Offer Price
IV") plus accrued interest up to the initial settlement date (22
October 2007), for each Bond validly tendered and delivered
(geleverd) on the terms and subject to the conditions and
restrictions of the Offers as described in the Offer Memorandum.
Admitted institutions of Euronext Amsterdam ("Admitted Institutions")
and admitted institutions of the Luxembourg Stock Exchange ("Direct
Participants") are advised to deliver the Shares and Bonds tendered
(via the relevant clearing system, if relevant) to ING Wholesale
Banking Securities Services, department Paying Agency Services (BV
06.01), Van Heenvlietlaan 220, 1083 CN Amsterdam, the Netherlands
("the Exchange Agent"). In order to receive payment for the tendered
Shares and Bonds on the Settlement Date, Admitted Institutions and
Direct Participants must deliver the tendered Shares and Bonds not
later than 15:00 hours, Amsterdam time, on the Settlement Date.

Delisting of Shares and Bonds, squeeze-out procedure and other
consequences of the Offers
As soon as legally possible, the Offeror intends to terminate the
listing and trading of the Shares on Euronext Amsterdam N.V.'s
Eurolist by NYSE Euronext ("Euronext Amsterdam") after consultation
with Euronext Amsterdam in accordance with the applicable de-listing
rules. Shareholders who have not tendered their Shares risk holding
de-listed and therewith thinly traded Shares and as such illiquid

The Offeror intends to initiate a squeeze-out procedure as referred
to in article 2:92a of the Dutch Civil Code in order to acquire all
Shares not held by the Offeror following the post acceptance period,
or to take any other legally possible steps to terminate the listing
and/or acquire Shares that were not tendered under Offer I,
including, but not limited to, effecting a legal merger and/or
entering into an asset sale transaction or any other legal measure,
as set out in the Offer Memorandum.

The Offeror further intends to terminate the listing of the 2008
Bonds on Euronext Amsterdam and the listing of the 2010 Bonds and the
2014 Bonds on Luxembourg Stock Exchange as soon as legally possible,
and subsequently cancel all Bonds.

For further information about Getronics and the Offers reference is
made to the website For the Offer Memorandum
reference is also made to the website These websites
do not constitute a part of the Offer Memorandum.

This announcement will also be published in Dutch. In the event of
any inconsistencies between the English and Dutch versions of this
announcement, the English version will prevail.

About KPN
KPN is the leading provider of telecommunications services in the
Netherlands, serving customers with wireline and wireless telephony-,
internet- and TV services. To business customers, KPN delivers
voice-, internet- and data services as well as fully-managed,
outsourced ICT solutions. Both nationally and internationally, KPN
provides Wholesale network services to third parties, including
operators and service providers. In Germany and Belgium, KPN pursues
a multi-brand strategy with its mobile operations, and serves
multiple customer segments in consumer as well as business markets.

At September 30, 2007, KPN served 5.5 million wireline voice
subscribers, 9.1 million mobile customers, 2.6 million Internet
customers and 0.4 million TV customers in the Netherlands as well as
16.8 million mobile customers in Germany and Belgium. With 27,155
individuals (24,890 FTEs), KPN posted revenues of EUR 8.9bn, with an
EBITDA of EUR 3.7bn in the period January - September 2007. KPN was
incorporated in 1989 and is listed on the Amsterdam, New York, London
and Frankfurt stock exchanges.

About Getronics
With some 24,000 employees in 25 countries and revenues of EUR 2.6
billion in 2006, Getronics is a leading international provider of
Information and Communication Technology (ICT) services and

Applying its expertise in workspace management, applications, and
consulting and transformation services, Getronics helps organisations
raise their performance and increase the productivity of their
people, by providing them with the ability to share information and
to work together efficiently, securely and effectively, wherever and
whenever they need.

Getronics headquarters are in Amsterdam. The Ordinary Shares and
Bonds 2008 are listed on Eurolist by Euronext Amsterdam and the Bonds
2010 and Bonds 2014 are listed on the official list of the Luxembourg
Stock Exchange. For further information about Getronics, visit

Press and Investor Enquiries

Press enquiries: Marinus Potman Investor enquiries: Eric Hageman,
Tel: +31 70 44 66 300 Head IR
Email: Tel: +31 70 34 39 144


Press enquiries: Simon Investor enquiries: Simon Theeuwes,
Theeuwes Vice-President Investor Relations
Tel: +31 20 586 1581 Tel: +31 20 586 1982
Email: Email:

Offer Memorandum
Copies of the Offer Memorandum and related documents are available
free of charge at the headquarters of Getronics:

Getronics N.V.
Rembrandt Tower - Amstelplein 1
1096 HA Amsterdam
The Netherlands

Tel: +31 (0)20 586 1412
Fax: +31 (0)20 586 1568

as well as the offices of ING Corporate Finance:

ING Corporate Finance
Foppingadreef 7
1102 BD Amsterdam Z-O
The Netherlands

Tel: +31 (0)20 563 8521
Fax: +31 (0)20 563 8503

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