Exhibit 4.9

C L I F F O R D
C H A N C E

LIMITED LIABILITY PARTNERSHIP

EXECUTION COPY

EURO 1,750,000,000

SYNDICATED REVOLVING CREDIT AGREEMENT

dated 17 MAY 2002

for

KONINKLIJKE KPN N.V.

with

ABN AMRO BANK N.V.

BANC OF AMERICA SECURITIES LIMITED

COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.

CREDIT SUISSE FIRST BOSTON

DEUTSCHE BANK AG

HVB BANQUE LUXEMBOURG SOCIÉTÉ ANONYME

ING BANK N.V.

J.P. MORGAN PLC

SCOTIABANK EUROPE PLC

and

SALOMON BROTHERS INTERNATIONAL LIMITED

as Mandated Lead Arrangers

and with

ABN AMRO BANK N.V.

acting as Facility Agent

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CONTENTS

|Clause                                              |  | Page
|--------------------------------------------------- |  | ----
|Section 1                                           |  | 1   
|Interpretation                                      |  | 1   
|1.    Definitions And Interpretation                |  | 1   
|Section 2                                           |  | 14  
|The Facility                                        |  | 14  
|2.    The Facility                                  |  | 14  
|3.    Purpose                                       |  | 15  
|4.    Conditions Of Utilisation                     |  | 15  
|Section 3                                           |  | 17  
|Utilisation                                         |  | 17  
|5.    Utilisation                                   |  | 17  
|6.    Optional Currencies                           |  | 18  
|Section 4                                           |  | 19  
|Repayment, Prepayment And Cancellation              |  | 19  
|7.    Repayment                                     |  | 19  
|8.    Prepayment And Cancellation                   |  | 19  
|Section 5                                           |  | 21  
|Costs Of Utilisation                                |  | 21  
|9.    Interest                                      |  | 21  
|10.    Interest Periods                             |  | 21  
|11.    Changes To The Calculation Of Interest       |  | 22  
|12.    Fees                                         |  | 23  
|Section 6                                           |  | 25  
|Additional Payment Obligations                      |  | 25  
|13.    Tax Gross Up                                 |  | 25  
|14.    Increased Costs                              |  | 26  
|15.    Other Indemnities                            |  | 27  
|16.    Mitigation By The Lenders                    |  | 28  
|17.    Costs And Expenses                           |  | 28  
|Section 7                                           |  | 30  
|Guarantee                                           |  | 30  
|18.    Guarantee And Indemnity                      |  | 30  
|Section 8                                           |  | 32  
|Representations, Undertakings And Events Of Default |  | 32  
|                                                    |  |     

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|19.    Representations And Warranties                             |                                                                                   | 32
|----------------------------------------------------------------- | --------------------------------------------------------------------------------- | --
|20.    Information Undertakings                                   |                                                                                   | 35
|21.    General Undertakings                                       |                                                                                   | 37
|22.    Financial Covenants                                        |                                                                                   | 43
|23.    Events Of Default                                          |                                                                                   | 46
|Section 9                                                         |                                                                                   | 50
|Changes To Parties                                                |                                                                                   | 50
|24.    Changes To The Lenders                                     |                                                                                   | 50
|25.    Changes To The Obligors                                    |                                                                                   | 52
|Section 10                                                        |                                                                                   | 54
|The Finance Parties                                               |                                                                                   | 54
|26.    Role Of The Facility Agent And The Mandated Lead Arrangers |                                                                                   | 54
|27.    Conduct Of Business By The Finance Parties                 |                                                                                   | 58
|28.    Sharing Among The Lenders                                  |                                                                                   | 58
|Section 11                                                        |                                                                                   | 60
|Administration                                                    |                                                                                   | 60
|29.    Payment Mechanics                                          |                                                                                   | 60
|30.    Set-Off                                                    |                                                                                   | 62
|31.    Notices                                                    |                                                                                   | 62
|32.    Calculations And Certificates                              |                                                                                   | 64
|33.    Partial Invalidity                                         |                                                                                   | 64
|34.    Remedies And Waivers                                       |                                                                                   | 65
|35.    Amendments And Waivers                                     |                                                                                   | 65
|36.    Counterparts                                               |                                                                                   | 65
|Section 12                                                        |                                                                                   | 66
|Governing Law And Enforcement                                     |                                                                                   | 66
|37.    Governing Law                                              |                                                                                   | 66
|38.    Enforcement                                                |                                                                                   | 66
|Schedule 1    The Original Lenders                                |                                                                                   | 67
|Schedule 2    Conditions Precedent                                |                                                                                   | 68
|                                                                  | Part 1    Conditions Precedent To Signing                                         |   
|                                                                  | Part 2    Conditions Precedent Required To Be Delivered By An Additional Borrower |   
|Schedule 3    Utilisation Request                                 |                                                                                   | 71
|Schedule 4    The Margin                                          |                                                                                   | 72
|Schedule 5    Form Of Transfer Certificate                        |                                                                                   | 73
|                                                                  |                                                                                   |   

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|Schedule 6    Form Of Compliance Certificate |  | 74
|-------------------------------------------- |  | --
|Schedule 7    Timetables                     |  | 75
|Schedule 8    Mandatory Cost Formulae        |  | 76
|Schedule 9    Form Of Accession Letter       |  | 78

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THIS AGREEMENTis dated 17 May 2002 and made between:

IT IS AGREEDas follows:

SECTION 1    INTERPRETATION

1.    DEFINITIONS AND INTERPRETATION

1.1  Definitions





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4

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5

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6

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7

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8

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11

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1.2  Construction



12

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1.3  Currency Symbols and Definitions



1.4  Third Party Rights



13

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SECTION 2    THE FACILITY

2.    THE FACILITY

2.1  The Facility



2.2  Lenders' rights and obligations



2.3  Obligors' representative



2.4  Actions of Company



14

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3.    PURPOSE

3.1  Purpose



3.2  Monitoring



4.    CONDITIONS OF UTILISATION

4.1  Initial conditions precedent



4.2  Further conditions precedent



4.3  Conditions relating to Optional Currencies



15

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4.4  Maximum number of Advances



16

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SECTION 3    UTILISATION

5.    UTILISATION

5.1  Delivery of a Utilisation Request



5.2  Completion of a Utilisation Request



5.3  Currency and amount



5.4  Lenders' participation



17

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6.    OPTIONAL CURRENCIES

6.1  Selection of currency



6.2  Unavailability of a currency





6.3  Participation in an Advance



6.4  Notification



18

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SECTION 4    REPAYMENT, PREPAYMENT AND CANCELLATION

7.    REPAYMENT

7.1  Repayment of Advances



8.    PREPAYMENT AND CANCELLATION

8.1  Illegality



8.2  Mandatory Prepayment on Change of Control



19

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8.3  Voluntary cancellation



8.4  Voluntary Prepayment



8.5  Right of repayment and cancellation in relation to a single Lender





8.6  Restrictions



20

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SECTION 5    COSTS OF UTILISATION

9.    INTEREST

9.1  Calculation of interest



9.2  Payment of interest



9.3  Default interest



9.4  Notification of rates of interest



10.  INTEREST PERIODS

10.1 Selection of Interest Periods



21

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10.2 Non-Business Days



11.  CHANGES TO THE CALCULATION OF INTEREST

11.1 Absence of quotations



11.2 Market disruption





22

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11.3 Alternative basis of interest or funding



11.4 Break Costs



12.  FEES

12.1 Commitment fee



12.2 Utilisation Fee



12.3 Arrangement Fee



23

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12.4 Agency fee



24

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SECTION 6    ADDITIONAL PAYMENT OBLIGATIONS

13.  TAX GROSS UP

13.1 Gross-up



13.2 Tax receipts



13.3 Tax Credit



25

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13.4 Stamp taxes



13.5 Value added tax



14.  INCREASED COSTS

14.1 Increased costs



14.2 Increased cost claims



26

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14.3 Exceptions



15.  OTHER INDEMNITIES

15.1 Currency indemnity





15.2 Other indemnities



27

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15.3 Indemnity to the Facility Agent



16.  MITIGATION BY THE LENDERS

16.1 Mitigation



16.2 Limitation of liability



17.  COSTS AND EXPENSES

17.1 Transaction expenses



28

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17.2 Amendment costs



17.3 Enforcement costs



29

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SECTION 7    GUARANTEE

18.  GUARANTEE AND INDEMNITY

18.1 Guarantee and indemnity



18.2 Continuing guarantee



18.3 Reinstatement



18.4 Waiver of defences



30

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18.5 Immediate recourse



18.6 Appropriations



18.7 Deferral of Guarantor's rights



18.8 Additional security



31

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SECTION 8    REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT

19.  REPRESENTATIONS AND WARRANTIES

19.1 Representations and warranties



19.2 Status



19.3 Powers and authority



19.4 Legal validity



19.5 Non-conflict



19.6 No default



32

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19.7 Authorisations



19.8 Financial Statements



19.9 Litigation



19.10 Insolvency



33

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19.11 Information



19.12 No Material Adverse Change



19.13 Times for making representations and warranties





19.14 Acknowledgement of the Parties



34

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20.  INFORMATION UNDERTAKINGS



20.1 Financial Information



20.2 Compliance Certificates



35

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20.3 Basis of Preparation of Financial Statements





20.4 InformationMiscellaneous



36

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21.  GENERAL UNDERTAKINGS



21.1 Notification of Default



21.2 Authorisations



21.3 Pari passu ranking



21.4 Negative pledge



37

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38

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21.5 Disposals



39

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21.6 Merger



21.7 Subsidiary Borrowings



40

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21.8 Change of business



21.9 Ownership of KPN Mobile and each Additional Borrower



21.10 Notification of Credit Ratings



21.11 KPN Telecom



21.12 Loans and Guarantees



41

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21.13 Share Capital Redemption and Other Capital Distributions



21.14Prepayments



21.15 Acquisitions



42

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21.16 Arm's Length Basis



21.17 BellSouth Subordinated Loan Agreement



21.18 No Subordination



22.  FINANCIAL COVENANTS

22.1 Financial Definitions





43

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44

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22.2 Financial Covenants



| |  | Financial Test Date |  | Ratio
| |  | ------------------- |  | -----
| |  | 30 June 2002        |  | 2.75 
| |  | 31 December 2002    |  | 3.00 
| |  | 30 June 2003        |  | 3.50 
| |  | 31 December 2003    |  | 3.50 
| |  | 30 June 2004        |  | 4.00 



| |  | Financial Test Date |  | Ratio
| |  | ------------------- |  | -----
| |  | 30 June 2002        |  | 4.75 
| |  | 31 December 2002    |  | 4.50 
| |  | 30 June 2003        |  | 4.25 
| |  | 31 December 2003    |  | 3.75 
| |  | 30 June 2004        |  | 3.50 

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23.  EVENTS OF DEFAULT

23.1 Events of Default



23.2 Non-payment



23.3 Breach of Financial Covenants



23.4 Breach of other obligations



23.5 Misrepresentation



23.6 Cross-default



46

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23.7 Insolvency



23.8 Compositions etc



23.9 Insolvency proceedings



23.10 Creditors' process



47

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23.11 Analogous proceedings



23.12 Unlawfulness



23.13 Repudiation



23.14 Material adverse change



23.15 Dividends and other distributions



23.16 Acceleration



48

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SECTION 9    CHANGES TO PARTIES

24.  CHANGES TO THE LENDERS

24.1 Assignments and transfers by the Lenders





24.2 Conditions of assignment or transfer





24.3 Assignment or transfer fee



24.4 Limitation of responsibility of Existing Lenders



50

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24.5 Procedure for transfer



51

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24.6 Confidentiality



25.  CHANGES TO THE OBLIGORS

25.1 Assignments and transfer by Obligors



25.2 Additional Borrowers



52

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25.3 Resignation of a Borrower



25.4 Repetition of Representations



53

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SECTION 10    THE FINANCE PARTIES

26.  ROLE OF THE FACILITY AGENT AND THE MANDATED LEAD ARRANGERS

26.1 Appointment of the Facility Agent



26.2 Duties of the Facility Agent



26.3 Role of the Mandated Lead Arrangers



26.4 No fiduciary duties



26.5 Business with the Group



26.6 Rights and discretions of the Facility Agent



54

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26.7 Majority Lenders' instructions



26.8 Responsibility for documentation



55

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26.9 Exclusion of liability



26.10Lenders' indemnity to the Facility Agent



26.11Resignation of the Facility Agent



56

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26.12Confidentiality



26.13Relationship with the Lenders



26.14Credit appraisal by the Lenders



57

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26.15Reference Banks



27.  CONDUCT OF BUSINESS BY THE FINANCE PARTIES



28.  SHARING AMONG THE LENDERS

28.1 Payments to Lenders



28.2 Redistribution of payments



28.3 Recovering Lender's rights



58

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28.4 Reversal of redistribution



28.5 Exceptions



59

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SECTION 11    ADMINISTRATION

29.  PAYMENT MECHANICS

29.1 Payments to the Facility Agent



29.2 Distributions by the Facility Agent



29.3 Distributions to an Obligor



29.4 Clawback



60

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29.5 Partial payments



29.6 No set-off by Obligor



29.7 Business Days



29.8 Currency of account



61

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29.9 Change of currency



30.  SET-OFF



31.  NOTICES

31.1 Communications in writing



31.2 Addresses



62

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31.3 Delivery





63

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31.4 Notification of address and fax number



31.5 English language



32.  CALCULATIONS AND CERTIFICATES

32.1 Accounts



32.2 Certificates and Determinations



32.3 Day count convention



33.  PARTIAL INVALIDITY



64

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34.  REMEDIES AND WAIVERS



35.  AMENDMENTS AND WAIVERS

35.1 Required consents



35.2 Exceptions



36.  COUNTERPARTS



65

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SECTION 12    GOVERNING LAW AND ENFORCEMENT

37.  GOVERNING LAW



38.  ENFORCEMENT





This Agreement has been entered into on the date stated at the beginning of this Agreement.

66

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SCHEDULE 1    The Original Lenders

|Name                                                 |  | Commitment        
|---------------------------------------------------- |  | ------------------
|
|ABN AMRO Bank N.V.                                   |  | 224,050,110.14    
|Bank of America, N.A.                                |  | 154,666,850.22    
|Citibank, N.A., London Branch                        |  | 224,050,110.13    
|Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. |  | 224,050,110.13    
|Credit Suisse First Boston                           |  | 150,812,224.67    
|Deutsche Bank Luxembourg, S.A.                       |  | 208,631,607.93    
|ING Bank N.V.                                        |  | 224,050,110.13    
|JPMorgan Chase Bank                                  |  | 204,776,982.38    
|HVB Banque Luxembourg Société Anonyme                |  | 77,092,511.01     
|Scotiabank Europe plc                                |  | 57,819,383.26     
|                                                     |  |                   
|Total                                                |  | euro 1,750,000,000
|                                                     |  |                   

67

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SCHEDULE 2  Conditions Precedent

Part 1  Conditions Precedent To Signing

68

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Part 2  Conditions precedent required to be delivered by an Additional Borrower

69

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70

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SCHEDULE 3

Utilisation Request

|From:     |  | [Borrower]      
|--------- |  | ----------------
|To:       |  | [Facility Agent]
|Dated:    |  |                 
|Dear Sirs |  |                 

Koninklijke KPN N.V.euro 1,750,000,000 Credit Agreement
dated 17 May 2002 (the "Credit Agreement")

| |  | Proposed Utilisation Date: |  | [        ] (or, if that is not a Business Day, the next Business Day)
| |  | -------------------------- |  | ---------------------------------------------------------------------
| |  | Currency of Advance:       |  | [        ]                                                           
| |  | Amount:                    |  | [        ]                                                           
| |  | Interest Period:           |  | [        ]                                                           

Yours faithfully

authorised
signatory for
[Koninklijke KPN N.V.]/[Additional Borrower]

71

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SCHEDULE 4

The Margin

|Credit Rating of the Company                            |  | Margin (per cent. per annum)
|------------------------------------------------------- |  | ----------------------------
|BBB+/Baal or higher                                     |  | 1.00                        
|BBB/Baa2                                                |  | 1.25                        
|BBB-/Baa3                                               |  | 1.50                        
|BB+/Ba1                                                 |  | 3.25                        
|BB/Ba2 or lower or no rating from either S&P or Moody's |  | 4.00                        

72

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SCHEDULE 5

Form of Transfer Certificate

|To:    |  | [        ] as Facility Agent                                                         
|------ |  | -------------------------------------------------------------------------------------
|From:  |  | [The Existing Lender] (the "Existing Lender") and [The New Lender] (the "New
Lender")
|Dated: |  |                                                                                      

Koninklijke KPN N.V.euro 1,750,000,000 Credit Agreement
dated 17 May 2002 (the "Credit Agreement")



THE SCHEDULE

Commitment/rights and obligations to be transferred

[insert relevant details]

[Facility Office address, fax number and attention details for notices and account details for payments,]

|[Existing Lender] |  | [New Lender]
|----------------- |  | ------------
|By:               |  | By:         

This
Transfer Certificate is accepted by the Facility Agent and the Transfer Date is confirmed as [            ].

[Facility
Agent]

By:

73

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SCHEDULE 6

Form of Compliance Certificate

|To:       |  | [            ] as Facility Agent
|--------- |  | --------------------------------
|From:     |  | Koninklijke KPN N.V             
|Dated:    |  |                                 
|Dear Sirs |  |                                 

Koninklijke KPN N.V.euro 1,750,000,000 Credit Agreement
dated 17 May 2002 (the "Credit Agreement")

| |  | Total Consolidated Net Borrowings: |  | [            ]
| |  | ---------------------------------- |  | --------------
| |  | Net Interest Expense:              |  | [            ]
| |  | EBITDA:                            |  | [            ]



Signed:



74

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SCHEDULE 7

Timetables

|                                                                                                                                                        |  | Advances in euro                                                            |  | Advances in sterling
and dollars                                            |  | Advances in other
currencies                                               
|------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --------------------------------------------------------------------------- |  | --------------------------------------------------------------------------- |  | ---------------------------------------------------------------------------
|Delivery of a duly completed Utilisation Request (Clause 5.1 (Delivery of a Utilisation Request))                                                       |  | 11 a.m. London time, 3 Business Days prior to the proposed Utilisation Date |  | 11 a.m. London time, 3 Business Days prior to the proposed Utilisation Date |  | 10 a.m. London time, 3 Business Days prior to the proposed Utilisation Date
|Facility Agent determines (in relation to a Utilisation) the Base Currency Amount of the Advance, if required under Clause 5.4 (Lenders' participation) |  | N/A                                                                         |  | 11 a.m. London time, 3 Business Days prior to the proposed Utilisation Date |  | 11 a.m. London time, 3 Business Days prior to the proposed Utilisation Date
|Facility Agent notifies the Lenders of the Advance in accordance with Clause 5.4 (Lenders' participation)                                               |  | Promptly upon receipt from the Borrower                                     |  | Promptly upon receipt from the Borrower                                     |  | Promptly upon receipt from the Borrower                                    
|Facility Agent receives a notification from a Lender under Clause 6.2 (Unavailability of a currency)                                                    |  | N/A                                                                         |  | N/A                                                                         |  | Quotation Day as of 9 a.m. London time                                     
|Facility Agent gives notice in accordance with Clause 6.2 (Unavailability of a currency)                                                                |  | N/A                                                                         |  | N/A                                                                         |  | Upon receipt of notification from the Lenders                              
|LIBOR or EURIBOR is fixed                                                                                                                               |  | Quotation Day as of 10 a.m. London time in respect of EURIBOR               |  | Quotation Day as of 11 a.m. London time                                     |  | Quotation Day as of 11 a.m. London time                                    

75

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SCHEDULE 8

Mandatory Cost Formulae

| |  | AB+C(BD)+E×0.01100-(A+C) |  | per cent. per annum
| |  | ------------------------- |  | -------------------



| |  | E×0.01300 |  | per cent. per annum
| |  | --------- |  | -------------------



76

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77

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SCHEDULE 9

Form of Accession Letter

|To:       |  | [            ] as Facility Agent     
|--------- |  | -------------------------------------
|From:     |  | [Subsidiary] and Koninklijke KPN N.V.
|Dated:    |  |                                      
|Dear Sirs |  |                                      

Koninklijke KPN N.V.euro 1,750,000,000 Facility Agreement
dated 17 May 2002 (the "Facility Agreement")





78

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SIGNATURES

|The Company
KONINKLIJKE KPN N.V.By:                     |  | 
|------------------------------------------------------- |  | 
|The Guarantor
KONINKLIJKE KPN N.V.By:                   |  | 
|The Mandated Lead Arrangers
ABN AMRO BANK N.V.By:       |  | 
|BANC OF AMERICA SECURITIES LIMITEDBy:                   |  | 
|COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.By: |  | 
|CREDIT SUISSE FIRST BOSTONBy:                           |  | 
|DEUTSCHE BANK AGBy:                                     |  | 
|HVB BANQUE LUXEMBOURG SOCIÉTÉ ANONYMEBy:                |  | 
|ING BANK N.V.By:                                        |  | 
|J.P. MORGAN PLCBy:                                      |  | 
|SCOTIABANK EUROPE PLCBy:                                |  | 
|SALOMON BROTHERS INTERNATIONAL LIMITED]By:              |  | 
|The Original Lenders
ABN AMRO BANK N.V.By:              |  | 
|BANK OF AMERICA, N.A.By:                                |  | 
|CITIBANK, N.A., LONDON BRANCHBy:                        |  | 
|COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.By: |  | 
|CREDIT SUISSE FIRST BOSTONBy:                           |  | 
|DEUTSCHE BANK LUXEMBOURG, S.A.By:                       |  | 
|ING BANK N.V.By:                                        |  | 
|                                                        |  | 

79

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|JPMORGAN CHASE BANKBy:                   |  | 
|---------------------------------------- |  | 
|HVB BANQUE LUXEMBOURG SOCIÉTÉ ANONYMEBy: |  | 
|SCOTIABANK EUROPE PLCBy:                 |  | 
|The Facility Agent
ABN AMRO BANK N.V.By: |  | 

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