Press Release


Mr. J.H.M. Hommen elected Chairman of the Supervisory Board TPG

Publish Date : 24 March 2005 at 08:30 CET - Mail, express and logistics company TPG N.V. today announced that the Supervisory Board has elected Mr. J.H.M. Hommen, member of the Supervisory Board since 1998, as chairman of the Supervisory Board effective as of the closing of the Annual General Meeting of Shareholders to be held on 7 April 2005. The election of Mr. Hommen is subject to his re-appointment as member of the Supervisory Board by the Annual General Meeting of Shareholders on 7 April 2005.

Mr. Hommen will succeed Mr. M. Tabaksblat, who will step down as chairman and member of the Supervisory Board as of the closing of the Annual General Meeting of Shareholders on 7 April 2005. Mr. Tabaksblat has been chairman of the Supervisory Board since 2001 and member of the Supervisory Board since 1998.

The Supervisory Board and Mr. Hommen acknowledge that this election is not fully in compliance with the Dutch Corporate Governance Code. However the Supervisory Board feels that this election is caused by unforeseen circumstances and is pleased that Mr. Hommen is willing to accept this important position. The Supervisory Board anticipates that Mr. Hommen will resolve the non-compliance in due course.

The Supervisory Board and Board of Management are most grateful for the major contributions of Mr. Tabaksblat as chairman and member of the Supervisory Board.

With its two brands TNT and Royal TPG Post, TPG N.V. is a global provider of mail, express and logistics services. The group employs over 162,000 people in 63 countries and serves over 200 countries. For 2004 the company reported sales of € 12.6 billion. TPG N.V. is publicly listed on the stock exchanges of Amsterdam, New York, London and Frankfurt.

Page publication date: 24 March 2005 at 08:30 CET