TNT's Supervisory Board closes investigation into possible illegal acts

TNT's Supervisory Board closes investigation into possible illegal acts

– The investigation concluded that the integrity of past and present

members of the Board of Management and current senior staff,

reporting to the Board of Management, is not in doubt

– No financial provision or contingent liability required as a

result of this investigation

– The investigation concluded that some illegal acts had taken place

– Remedial actions are being taken

Amsterdam, 27th February, 2006 – TNT N.V.'s Audit Committee and

Supervisory Board have received the report of the Audit Committee's

independent counsel, Gibson, Dunn & Crutcher LLP, with respect to

its investigation into whether illegal acts occurred at TNT, and the

responsibility for such acts, in connection with certain past tax

matters. The investigation determined that some illegal acts had

taken place. The investigation further concluded that the integrity

of present and past members of the Board of Management and current

senior staff, reporting to the Board of Management, is not in doubt.

The independent counsel, the Audit Committee and the Supervisory

Board discussed several remedial recommendations of independent

counsel, including strengthening of controls and procedures and

financial and tax staffing. CEO Peter Bakker was briefed by the

Chairman of the Supervisory Board and the Chairman of the Audit

Committee, as well as subsequently by independent counsel on the

results of the investigation, including staffing assessments and the

remedial recommendations. TNT's external auditor,

PricewaterhouseCoopers Accountants N.V., has also been briefed on

the investigation in detail by the independent counsel.

PricewaterhouseCoopers subsequently discussed those results with the

Audit Committee and Supervisory Board and supports the remedial

actions. The Board of Management endorses the remedial actions and

has committed to swiftly implement them.

We have determined that no financial provision or contingent

liability is required as a result of this investigation.

Mr. Jan Hommen, Chairman of the Supervisory Board, stated: "We are

pleased that the investigation has validated our continued

confidence throughout this process in the integrity of our

management."

Warning about forward-looking statements

Some statements in this press release are "forward-looking

statements" within the meaning of U.S. federal securities laws. We

intend that these statements be covered by the safe harbors created

under these laws. By their nature, forward-looking statements

involve risk and uncertainty because they relate to events and

depend on circumstances that will occur in the future. These

forward-looking statements involve known and unknown risks,

uncertainties and other factors that are outside of our control and

impossible to predict and may cause actual results to differ

materially from any future results expressed or implied. These

forward-looking statements are based on current expectations,

analyses, estimates, assessments, forecasts and projections and our

beliefs and assumptions about future events. Forward-looking

statements include, without limitation, statements concerning our

results or financial position and the results and the timing of our

tax investigations and our discussions or disagreements with tax

authorities and the other factors discussed in our annual report on

Form 20-F and our other reports filed with the US Securities and

Exchange Commission. Given these uncertainties, no assurance can be

given as to our future results or financial position. You are

cautioned not to put undue reliance on these forward-looking

statements, which only speak as of the date of this press release

and are neither predictions nor guarantees of future events or

circumstances. We do not undertake any obligation to release

publicly any revisions to these forward-looking statements to

reflect events or circumstances after the date of this press release

or to reflect the occurrence of unanticipated events, except as may

be required under applicable securities laws.