Due to some unclarity around our press release earlier today on our mid- term outlook, KPN management would like to state the following:
- The guidance on profit before tax provided is a conservative estimate. There is an upward potential amounting to € 300 million for 2004 as well as 2005, which would result in € 1.7 billion for 2004 and € 1.8 billion for 2005
- Furthermore, we would to stress that the depreciation on the UMTS licences as of 2004 reflects regular amortization, and should not be confused with an impairment.