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UPS Launches Offer EUR9.50 Per TNT Express Share

AMSTERDAM -- TNT Express NV (TNTA.AE) and UPS (UPS) jointly said Thursday that UPS launches a recommended cash offer of EUR9.50 per TNT Express share. PostNL NV (PNL.AE), holding 29.8% of TNT Express shares, will tender its shares. TNT Express will hold an extraordinary shareholders meeting on August 6. MAIN FACTS: - The Offer is a public cash offer for all the issued and outstanding ordinary shares and American depositary shares of TNT Express at an offer price of EUR 9.50 per Share. - The Executive Board and the Supervisory Board of TNT Express fully support and unanimously recommend the Offer to the Shareholders for acceptance. - Positive advice and opinion obtained from respectively the Central Works Council and the European Works Council. - PostNL N.V., currently holding approximately 29.8% of the Shares, has irrevocably undertaken to tender its Shares under the Offer. - The Offer Period commences on 22 June 2012 at 09.00 hours, Amsterdam time (03:00 hours, New York time), and ends on 31 August 2012 at 18.00 hours, Amsterdam time (12:00 hours (noon), New York time), unless extended. - TNT Express will convene an Extraordinary General Meeting of Shareholders at 14:00 hours, Amsterdam time (08:00 hours, New York time), on 6 August 2012, during which, amongst other things, the Offer will be discussed. - The Offer shall be subject to the fulfilment of the Offer Conditions as set out in the Offer Memorandum. - Request for EU regulatory approval filed on 15 June 2012. - By Amsterdam Bureau, Dow Jones Newswires; amsterdam@dowjones.com

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