TNT Post acquires all shares of CendrisBSC contact centre business

TNT Post B.V. announced today it has reached agreement with Essent Retail Bedrijven to acquire the remaining 49% shares in CendrisBSC Customer Contact B.V. With this agreement CendrisBSC - a facility call centre business set up in 2004 as a joint venture between TNT and Essent - will now be fully owned and operated by TNT Post.

CendrisBSC is the Dutch market leader as a facility call centre business. Its services comprise customer service and helpdesks as well as telemarketing for the business and consumer markets. CendrisBSC has nine sites in the Netherlands and one in Germany. It employees 3400 staff.

The terms and conditions of the joint venture agreement provided TNT Post with the option to call, as per 15 July 2007 on the shares of Essent and for Essent to put, as per 15 July 2007 its shares to TNT Post. Parties have reached agreement sooner on the transfer and Essent is now withdrawing as a shareholder. Essent retains its relationship with CendrisBSC as a customer.

CendrisBSC's works council gave a positive formal opinion on the share transfer. A formal approval was given by the competition authorities in both the Netherlands and Germany.

Amsterdam, 28 March 2007

Published: 28 March 2007