Press Release

TNT Post Group to announce dividend policy

Publish Date : 27 April 1998 at 11:52 CET - The Board of Management of TPG intends to pursue a dividend policy with a pay out in a range of 30-35% of profits to reflect its expected growth levels and investment strategy.

In the next few years, TNT Post Group intends to pay a stable dividend of NLG 0.80 per ordinary share, which would, on the basis of the 1997 figures, compare with a pro forma pay out ratio of approximately 54%. Over time, as TNT Post Group expects to grow its business, the intended stable dividend of NLG 0.80 per ordinary share is expected to result in a pay out ratio of 30-35%. The dividend policy will be pursued if permitted by the financi-al situation of TNT Post Group and will be subject to annual review.

TNT Post Group intends to pay an interim dividend and a final dividend. For the interim dividend and the final dividend TNT Post Group intends to offer its shareholders (including its shareholders in the United States) a choice between dividends in cash or in ordinary shares (based on a conversion rate related to the closing quote (ex-dividend) of the ordinary shares on the AEX on a date prior to payment). In each case at the annoucement of the choice, TNT Post Group will announce that the value of the dividend paid in shares will be 2% to 5% lower than the value of the cash dividend.

SAFE HARBOUR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: Certain information contained in this press release, particularly in the 'Prospects' section is forward-looking. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. In addition to the assumptions specifically mentioned in the above paragraphs, there are a number of other factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, the actual effects of recent and future regulatory changes and technological developments, globalization, levels of spending in major economies, the economic climate in Southeast Asia, levels of marketing and promotional expenditure, actions of competitors and joint venture partners, employee costs, future exchange and interest rates, changes in tax rates, unexpected costs of integrating recently acquired businesses and future business combination or dispositions or the Telecom reorganization.

Page publication date: 27 April 1998 at 11:52 CET