Press Release

Worldwide co-operation between TPG and the Swiss Post

Publish Date : 17 November 1999 at 14:51 CET - TNT Post Group N.V. (TPG) and the Swiss Post have established a strategic alliance to offer high quality performance to the Swiss economy in Switzerland and abroad in express and courier services. TPG will gain access to the attractive network of Swiss Post offices and the highly developed technology of the Swiss Post. With this alliance the Swiss Post will connect its customers to the worldwide network of TPG in the business areas of mail, express and logistics.

Both companies will form a joint venture with headquarters in Switzerland. It will manage the international express and courier services for the Swiss market. Furthermore, the intention is to achieve a close co-operation in international mail, logistics and e-commerce.

The Swiss Post, therefore gains a strong position in the fast-developing international mail and express market, offering its customers - especially multinational companies - new logistic solutions on a global scale. Ad Scheepbouwer, Chairman and CEO of TPG, said: "This is an excellent synthesis between the worldwide highly efficient TNT network and the recognised reliability and high quality of the Swiss Post." According to Reto Braun, CEO of Swiss Post, this alliance opens the Swiss Post to global markets.

Swiss Post is the largest organisation in transport logistics in Switzerland, distributing letters and parcels, offering express and courier services, as well as regional passengers road transport. The independent company, owned by the Federal Council, runs the world's most dense network of 3,600 post offices. Postfinance is a market leader in payment transactions and pursues a strategy of payment, deposits, investments, pension planning and cash management. Swiss Post ranks among the largest employers in the country with more than 50,000 employees. Net sales amounted to SFr. 5.5 billion in 1998.

Page publication date: 17 November 1999 at 14:51 CET