Press Release

Official signing of International Express partnership between TPG and Swiss Post

Publish Date : 28 June 2000 at 12:20 CET - Today, TNT Post Group N.V. (TPG) and Swiss Post have officially signed the contract to establish a joint venture that will offer high quality express and courier services to, from and within Switzerland. The signing took place this morning in Lenzburg, Switzerland, following last November's announcement and the signing of a memorandum of understanding for a strategic alliance.

TPG and Swiss Post will each take a 50% stake in the joint venture company, TNT Swiss Post AG. TNT Swiss Post AG will have an expected turnover for the second half of 2000 of EUR 34 million. It will employ 400 people at sites in Buchs and Mendrisio and at the international airports in Basle and Geneva. The joint venture will become operational as of 1 July 2000.

TNT Swiss Post AG, headquartered in Buchs/AG, Switzerland, will offer high-quality performance in international express services. TPG, with its brand TNT, will gain access to Swiss Post's attractive network of post offices and their state-of-the-art technology. Swiss Post will connect its customers to TPG's worldwide network in international express.

Page publication date: 28 June 2000 at 12:20 CET