Press Release

Independent tax investigations initiated

Publish Date : 22 September 2005 at 22:05 CET - As previously disclosed, we are preparing an addendum to our report, submitted in August 2004, to the UK Inland Revenue, that will cover other UK tax matters not addressed in the original report and are separately investigating the tax position of certain non-UK subsidiaries. As also disclosed previously, the outcome of these investigations may have a material impact on TNT's results and financial position. The investigations have revealed the likelihood of illegal acts relating to certain past tax matters. On behalf of TNT's Supervisory Board, its Audit Committee has taken responsibility for overseeing these investigations and will retain an independent law firm to assist it in conducting a full, independent investigation.

TNT has appointed Mr. Karel Kooijman to coordinate these investigations and to report directly to its Audit Committee. Mr. Kooijman retired in 2000 as the head of the tax department of the Royal Dutch Shell Group. Subsequently, until 2003, Mr. Kooijman acted as part-time special counsel to the Director-General for Tax Policy and Legislation of the Ministry of Finance of the Netherlands.

With its two brands TNT and Royal TPG Post, TNT N.V. is a global provider of mail, express and logistics services. The group employs over 161,000 people in 63 countries and serves over 200 countries. For 2004 the company reported sales of € 12.6 billion. TNT N.V. is publicly listed on the stock exchanges of Amsterdam, New York, London and Frankfurt.

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Page publication date: 22 September 2005 at 22:05 CET