TNT Tintra Plc

RNS Number:0776O
TNT Post Groep NV
19 July 2000


TNT AND KOC SIGN AGREEMENT FOR KOC-TNT LOGISTICS JOINT VENTURE COMPANY

TNT and Koc Group, Turkey's largest private sector group, have formally
concluded an agreement to create a joint venture company KOC-TNT. The new
company will provide integrated logistics services to various industries in
Turkey and the surrounding region.

The joint venture will offer logistics services including the complete
management of the supply chain from the point of origin to the point of
consumption. This will include complex and sophisticated solutions that
integrate warehousing and inventory management, transportation of goods, payment
processing and customer services.

KOC-TNT is poised to become the leading provider of the complete range of
logistics services in the region, initially targeting the automotive,
electronics and consumer durable goods industries. By outsourcing logistics to
KOC-TNT, customers in Turkey and beyond will be able to focus on core business,
while achieving lower costs and improved service in the management of their
supply chains.

TNT Logistics, which enjoyed growth of 44% in 1998/99, brings to the joint
venture its expertise in global logistics through its 17,000 employees,
operating over 2,8 million square meters of warehousing with 600 contracts. TNT
Logistics is a division of TNT Post Group (TPG), a publicly listed company which
is headquartered in Amsterdam, the Netherlands. The company is one of the four
largest integrated distribution companies worldwide. It employs more than
115,000 people in 60 countries and serves over 200 countries. The company had
sales of EUR 8.5 billion in 1999.

The Koc Group, Turkey's largest private sector group employing over 37,000
people, brings to the joint venture its knowledge of the Turkish and emerging
markets in the region, its experience as a major player in the targeted
industries, and its extensive network of 9600 dealers throughout Turkey in the
targeted industries.

Roberto Rossi, TNT's Logistics Group Managing Director: "The joint venture with
Koc is an important development for the logistics industry in Turkey. TNT
provides proven expertise, an existing distribution network and, most
importantly for Turkish industry, sophisticated logistics solutions based on
world-class management and IT. Koc provides experience and expertise in the
region and a dynamic and ambitious management that fits TNT's management culture
well. Together, we should make a great team."

Hasan Bengu, President of Koc International Trade Group: "We have high
expectations for KOC-TNT. With the new economy bringing about the rapid
expansion of e-trade and e-fulfillment, logistics is fast becoming the backbone
of the 21st century. KOC-TNT brings Turkey another first by entering one of the
new millennium's most attractive value-added sectors. We are aiming for rapid
organic growth but will also consider acquisitions if they are the right fit for
our business."

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