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74/2011 EC decision will not impact TP S.A.’s dividend policy and realization of its medium-term action plan - Orange Polska

Pursuant to art. 56, clause 1, item 1 of the Law of July 29, 2005 on public offering and the conditions for introducing financial instruments to the organised trading system and on public companies (Journal of Laws of 2005, No. 184, item 1539 with amendments), the Management Board of Telekomunikacja Polska S.A. (“TP S.A”, “Company”) informs about the penalty imposed on the Company by the European Commission.

EC decision will not impact TP S.A.’s dividend policy and realization of its medium-term action plan

22 June 2011; TP S.A. was informed about a €127.6 mn penalty (approximately PLN 508 mn) imposed by the European Commission, for abuse of dominant position on the wholesale broadband access market, before October 2009. All wrongdoings pointed by EC have been voluntarily removed by the Company in the past, immediately after their identification.

The decision is not final and TP S.A., in cooperation with its legal advisors, will consider a possible response.

Despite the fact that value of today’s decision is approximately PLN 458 mn in excess of the provision created by TP S.A., and will therefore adversely impact the Company’s net income for 2011, financial objectives set forth by TP Group for 2011 remain valid, as they were stated excluding exceptional items.

The above mentioned decisions will not have any impact on TP S.A.’s dividend policy and medium-term action plan, as disclosed on February 23, 2010.

 

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