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Press release from Business Wire

UPS Public Offer for TNT Express – Offer Period extended until November 9, 2012; EU Competition Review Extended, Moves Completion Date

Wednesday, September 05, 2012

UPS Public Offer for TNT Express – Offer Period extended until November 9, 2012; EU Competition Review Extended, Moves Completion Date11:30 EDT Wednesday, September 05, 2012 ATLANTA & HOOFDDORP, Netherlands (Business Wire) -- United Parcel Service (UPS) today confirmed that the Offer Period for its public Offer for TNT Express N.V. (TNT Express) is extended to November 9, 2012, as previously indicated on August 22, 2012, and in accordance with the terms and conditions set out in the Offer Memorandum dated June 21, 2012. This confirmation is formally required pursuant to Articles 15 and 16 of the Decree. The Offer Period has been extended because not all conditions for completion of the Offer, in particular the condition on competition clearance, were fulfilled upon the expiry of the initial Offer Period on August 31, 2012. UPS and TNT Express also confirmed today they mutually consented to a request from the European Commission to extend the review period for another 10 working days to enable the Commission to fully review additional information related to the transaction. As a result of this extension, UPS and TNT Express now anticipate completion of the Offer and close of the transaction in early 2013. If and when the currently extended Offer Period lapses without the condition on competition clearance having been fulfilled, an exemption will be requested from the Netherlands Authority for the Financial Markets (AFM) to extend the Offer period again. During the extended Offer Period, Shares tendered during the initial Offer Period may be withdrawn in accordance with the provisions of Article 15, paragraph 3 of the Decree. Any Shares tendered during the initial Offer Period and not withdrawn will remain subject to the Offer. UPS and TNT Express remain committed to the Offer and are working closely to fulfill all Offer conditions. Under the terms of the €5.16 billion ($6.51 billion [1]) Offer, UPS will acquire TNT Express to create a service leader in the logistics industry and an enhanced, integrated global network. The complementary strengths of both organizations will create a customer-focused global platform that will be a leader in transportation technology and customer service. The combined network will help facilitate the flow of trade, making customers more competitive not just in U.S. and European markets, but also in markets across Asia and Latin America – helping to stimulate much needed economic growth. Offer Memorandum, Position Statement and further information UPS Bidco B.V., (a wholly owned subsidiary of UPS) (the Offeror), is making the Offer on the terms and subject to the conditions and restrictions contained in the Offer Memorandum, dated June 21, 2012. TNT Express has also made available the Position Statement, containing the information required by Article 18, paragraph 2 and Annex G of the Decree in connection with the Offer. This announcement contains selected, condensed information regarding the Offer and does not replace the Offer Memorandum and/or the Position Statement. The information in this announcement is not complete and additional information is contained in the Offer Memorandum and the Position Statement. Shareholders are advised to review the Offer Memorandum and the Position Statement in detail and to seek independent advice where appropriate in order to reach a reasoned judgment in respect of the Offer and the content of the Offer Memorandum and the Position Statement. Copies of the Offer Memorandum are available free of charge at the offices of UPS, TNT Express, the Listing and Exchange Agent and the ADS Tender Agent and can be obtained by contacting UPS, or TNT Express. Digital copies of the Offer Memorandum are available on the websites of UPS (www.investors.ups.com) and TNT Express (www.tnt.com). Digital copies of the Position Statement will be available on the website of TNT Express (www.tnt.com). About UPS United Parcel Service (NYSE:UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight, the facilitation of international trade, and the deployment of advanced technology to manage the world of business more efficiently. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at blog.UPS.com. To receive UPS news direct, visit pressroom.UPS.com/RSS. About TNT Express TNT Express (NYSE Euronext: TNTE) is one of the world's largest express delivery companies. On a daily basis, TNT Express delivers close to 1 million consignments ranging from documents and parcels to palletized freight. The company operates road and air transportation networks in Europe, the Middle East and Africa, Asia-Pacific and the Americas. TNT Express had revenues of €7.25 billion in 2011. [1] Assuming FX spot rate as of August 31, 2012, of EUR / USD 1.2611 (Source: ECB) This is a joint press release by United Parcel Service, Inc. and TNT Express N.V. pursuant to the provisions of Article 15, paragraph 2 of the Decreeon public offers Wft (Besluit Openbare Biedingen Wft, the Decree) in connection with the recommended public Offer by United Parcel Service, Inc. for all the issued and outstanding ordinary shares and all American depositary shares representing ordinary shares in the capital of TNT Express N.V. This announcement does not constitute an Offer, or any solicitation of any Offer, to buy or subscribe for any securities in TNT Express N.V. The Offer is made only by means of the Offer Memorandum (as defined below). This announcement is not for release, publication or distribution, in whole or in part, in or into directly or indirectly Canada or Japan. Terms not defined in this press release will have the meaning as set forth in the Offer Memorandum. UPSPublic RelationsPeggy Gardner, +1-404-828-6051orEuropeAnton Van der Lande, +32 475 279 712orInvestor RelationsAndy Dolny, +1-404-828-8901orMaitland (UK)Neil Bennett, Tom Buchanan, David Sturken, +44 207 379 5151orSPJ (The Netherlands)Kees Jongsma, Wim Moerkerk, +31 20 647 8181orTNT ExpressExternal CommunicationsErnst Moeksis, +31 (0) 6 51 189 384orInvestor RelationsAndrew Beh, +31 (0) 88 393 9500