RNS Number:7511S
Koninklijke KPN NV
2 December 2003

Xantic agrees to sale of Inmarsat                                        

On December 1, the shareholders of the international satellite company Inmarsat
have accepted the offer by Grapeclose Limited (a company controlled by Apax
Partners and Permira) for all the issued share capital of Inmarsat. Xantic
(owned for 65% by KPN and for 35% by Telstra of Australia) owns 5,862,300
Inmarsat shares. Given the price of $15 per share, Xantic will receive
approximately $88 million in proceeds.

The offer was structured via a Scheme of Arrangement under Section 425 of the
Companies Act 1985 and Court approval will be sought on 16th December. The
Scheme is expected to become effective on Wednesday 17th December 2003. Xantic
will receive the proceeds around the end of the year. The proceeds will for the
largest part be used by Xantic to redeem shareholder loans from KPN and Telstra.



Note to editors (not for publication)
For more information contact KPN Press Office at +31 70 4466300.

Note to investors and analysts (not for publication)
For more information contact KPN Investor Relations at +31 70 4460986.
 


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