Ministerie van Financiën

Press release

PERS-2005-009a

The Hague, The Netherlands, 19 January 2005

Not for release, distribution or publication in whole or in part in or into the United States, Canada, Australia or Japan

Sale by Dutch State of 6% stake in Koninklijke KPN NV ("KPN")

The Dutch State, as represented by the Ministry of Finance, is today announcing that it has sold 150 million ordinary shares in KPN, by way of a block sale to Lehman Brothers. The sale represents approximately 6% of KPN's outstanding share capital, and reduces the holding of the Dutch State in KPN to approximately 14%.

NM Rothschild & Sons Limited advised the Dutch State on this transaction.

The Dutch State has agreed with Lehman Brothers not to sell any additional ordinary shares in KPN for a period of 180 days following the completion of this sale, subject to certain exceptions.

The Dutch State confirms that it is its intention to further reduce its shareholding in KPN over time.

This press release is not an offer for sale or a solicitation of any offer to buy any ordinary shares or any other security of KPN in the United States. The KPN shares referred to in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States unless registered under the Securities Act or an exemption from such registration is available. No public offering of the shares described in this press release is being made in the United States.