Swiss Banking News: April 2006

27.04.2006 Credit Suisse is planning to merge its private banks in beginning of 2007. These will be Clariden Bank, Bank Leu, BGP Banca di Gestione Patrimoniale, Bank Hofmann and the securities dealer Credit Suisse Fides that, as a result, will form an autonomous bank. The integration process is expected be completed by the end of 2007. In 2008, the merger is expected to result in additional net income of approximately CHF 100 million per annum. The approval of the Boards of Directors of Credit Suisse Group and the 5 entities and the consent of the Swiss Federal Banking Commission are required for the merger.