TNT Post Groep NV - Re Joint Venture

RNS Number:9551G
TNT Post Groep NV
9 March 2000


TPG, BRITISH POST OFFICE AND SINGAPORE POST IN GROUND BREAKING ONE BILLION NLG
BUSINESS MAIL JOINT VENTURE


Today at 10.30am the CE0s of TNT Post Group N.V. (TPG), the British Post Office
and Singapore Post will sign heads of agreement to start establishing a global
joint venture in cross border mail The alliance, the first of its type, will
create the world's largest business mailing partnership, combining the
expertise, systems, networks and products of three of the world's most important
international mailing companies. From the start, the new alliance will have a
combined annual turnover of close to EUR 450 million (one billion NLG) and will
service 200 countries world-wide. The new company will have its headquarters in
Belgium. The three parties have also agreed to explore the development of
domestic networks.

Customers throughout Europe, the Americas and the Asia Pacific region will
benefit from the synergies of the joint venture, which include greater
operational flexibility, through access to a combined world-wide alternative
network, the development of specialist products and services and the ability to
offer a range of pricing options.

TPG will have the major 51 per cent stake holding in the new alliance, with the
British Post Office and Singapore Post each taking a 24.5 per cent stake.

Commenting on the agreement, TPG's CEO Ad Scheepbouwer, said: "This alliance
represents a significant milestone in the history of the world's postal market.
International mailers worldwide will now have even more choice, more options and
a more sophisticated system for sending their mail. This is a strategic alliance
 which will bring benefits to many millions of companies around the globe."

For the British Post Office the alliance will be an important part of its
strategy to maintain its position as one of the world's leading mailing
companies. Commenting on their involvement CEO, John Roberts, said: "This
innovative venture heralds a new era in the global mail market by creating the
world's largest business mailing partnership. It links the Post Office's
established international mailing expertise and experience with the world-wide
delivery ability and access of our partners, and that's good news for all our
customers."

All three partners have global mailing expertise, with TPG and the British Post
Office providing the alliance with well developed services throughout Europe,
the Asia Pacific region and the Americas. Singapore Post, with its state-
of-the-art operation and systems and established business relationships
throughout the Asia Pacific region, will help to take the alliance into a new
dimension.

Singapore Post's CEO, William Tan, commented on the venture, saying: "Singapore
is at the heart of the Asia Pacific region. Joining forces with TPG and the
British Post Office will strengthen our European and American coverage, offering
opportunities and advantages to all our customers." 
Speaking on behalf of all the partners Mr Scheepbouwer added, "The alliance
demonstrates the commitment of three well known and progressive postal companies
to provide customers with an alternative, integrated one-stop solution. Direct
marketers, publishers, e-Commerce merchants, corporate mailers, financial
institutions and distance sellers will all benefit from the springboard to
Europe, Asia Pacific and the Americas. 
"We believe that the alliance will be fantastic news for all customers who face
increasing cost pressures and who need more flexible, reliable value for money
services."

The joint venture is subject to due diligence, relevant approvals and
consultation proceedings.

Notes to the Editors:
TPO with its two brands TNT and PTT Post is a global provider of mail, express
and logistics services. It employs more than 115,000 people in 60 countries and
serves over 200 countries. The company had sales of NLG 16.3 billion in 1998.
TPG is publicly listed on the Stock Exchanges of Amsterdam, New York, London and
Frankfurt.

The British Post Office is the UK's national postal administration, which is
wholly owned by the Government. Using the Royal Mail brand it has established
itself as one of the world's leading international mailing companies, with
offices throughout Europe and North America. In 1998 the international operation
handles more than 1.5 billion items of mail.

Singapore Post (SingPost) is the national postal services provider in Singapore
and is a subsidiary of Singapore Telecom, the leading telecommunications
provider in Singapore. SingPost has established a strong reputation especially
within the Asia Pacific region, where it provides first rate mailing solutions
for international marketers, publishers and corporate businesses located within
the region.

For further information:

TPG, Debbie de Wagenaar
Director Press Office & PR
Tel.: + 31 20 500 6171
Mobile: + 31 6 53 41 86 25
Debbie.de.wagenaar@tntpost.com

SingPost, Janine Mathieu
Corporate Communications Manager
Tel: + 65 84 56 409
Mobile: + 65 97 80 29 13
janine@singpost.com

The Post Office, Stephen Davies 
Head of Communications 
Tel: + 44 171 320 4046
Mobile: + 44 802 948 710 
davies@royalmail.co.uk

END

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