KPN Appoints New CFO

THE HAGUE, The Netherlands -- The Supervisory Board of KPN has the intention to appoint Mr M. (Marcel) Smits (42) as Chief Financial Officer and member of the Management Board. Mr Smits will succeed Maarten Henderson, whose resignation was announced on March 15, 2004. Mr Smits will join KPN by September 1, 2004 at the latest.

Marcel Smits, who has the Dutch nationality, joins KPN from Vendex KBB where he holds the position of CFO and member of the Management Board since 1999. Prior to that, from end 1986 to May 1999, Mr Smits held various financial and commercial positions at Unilever, amongst others in Venezuela and China.

Mr Smits studied at the University of Amsterdam, where he obtained a Masters degree in Business Administration and in Tax Law. He is Certified Public Accountant. Mr Smits is Member of the Board of VNO-NCW, the main Dutch employers organization and is member of the Sociaal Ecomische Raad (the main economic advisory body of the Dutch government). Furthermore Mr Smits is Member of the Supervisory board of insurance company Delta Lloyd and Bibit a payment services company.

KPN Telecom NV