ZURICH, Switzerland, April 29, 2005 (PRIMEZONE) -- The shareholders of Credit Suisse Group have approved all of the motions proposed by the Board of Directors at the Annual General Meeting of April 29, 2005.
The shareholders approved the proposed dividend of CHF 1.50 per share, which will be paid out on May 6, 2005, as well as a two-year share buyback program of up to CHF 6 billion, which will commence on May 9, 2005. The Annual General Meeting also approved all the other motions proposed by the Board of Directors.
Jean Lanier and Anton van Rossum were newly elected to the Board of Directors. The shareholders also re-elected Thomas W. Bechtler, Robert H. Benmosche, Peter Brabeck-Letmathe and Ernst Tanner for a further term of three years. A list of the Members of the Board of Directors is attached.
In his speech, Walter B. Kielholz, Chairman of the Board of Directors, stated, "In the year 2004, we set the course for the future development of Credit Suisse Group. Its trend of positive results, solid operating business and strong capital position formed the basis for the Board of Directors' decision about the Group's future strategy. The integration of our banking businesses will enable us to respond more effectively to the future needs of our clients, to bundle the expertise available throughout Credit Suisse Group and to make more targeted use of our resources."
The speeches by Walter B. Kielholz and Oswald J. Gruebel are available on the Internet at: www.credit-suisse.com/agm
Enquiries
Credit Suisse Group,
Media Relations Telephone +41 44 333 88 44
Credit Suisse Group,
Investor Relations Telephone +41 44 333 31 69
Credit Suisse Group
Credit Suisse Group is a leading global financial services company headquartered in Zurich. It provides private clients and small and medium-sized companies with private banking and financial advisory services, and pension and insurance solutions from Winterthur. In the area of investment banking, it serves global institutional, corporate, government and individual clients in its role as a financial intermediary. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and in the form of American Depositary Shares (CSR) in New York. The Group employs around 60,000 staff worldwide. As of December 31, 2004, it reported assets under management of CHF 1,220.7 billion.
Cautionary Statement Regarding Forward-Looking Information This press release contains statements that constitute forward-looking statements. In addition, in the future we, and others on our behalf, may make statements that constitute forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to our plans, objectives or goals; our future economic performance or prospects; the potential effect on our future performance of certain contingencies; and assumptions underlying any such statements. Words such as "believes," "anticipates," "expects," "intends" and "plans" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. We do not intend to update these forward-looking statements except as may be required by applicable laws. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include (i) market and interest rate fluctuations; (ii) the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations in particular; (iii) the ability of counterparties to meet their obligations to us; (iv) the effects of, and changes in, fiscal, monetary, trade and tax policies, and currency fluctuations; (v) political and social developments, including war, civil unrest or terrorist activity; (vi) the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations; (vii) the ability to maintain sufficient liquidity and access capital markets; (viii) operational factors such as systems failure, human error, or the failure to properly implement procedures; (ix) actions taken by regulators with respect to our business and practices in one or more of the countries in which we conduct our operations; (x) the effects of changes in laws, regulations or accounting policies or practices; (xi) competition in geographic and business areas in which we conduct our operations; (xii) the ability to retain and recruit qualified personnel; (xiii) the ability to maintain our reputation and promote our brands; (xiv) the ability to increase market share and control expenses; (xv) technological changes; (xvi) the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users; (xvii) acquisitions, including the ability to integrate successfully acquired businesses; (xviii) the adverse resolution of litigation and other contingencies; and (xix) our success at managing the risks involved in the foregoing. We caution you that the foregoing list of important factors is not exclusive; when evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, as well as the risks identified in our most recently filed Form 20-F and reports on Form 6-K furnished to the US Securities and Exchange Commission.
Members of the Board of Directors
Walter B. Kielholz(1), Chairman
Hans-Ulrich Doerig(1)(4), Vice-Chairman
Thomas W. Bechtler(4)
Robert H. Benmosche(2)
Peter Brabeck-Letmathe
Noreen Doyle(4)
Jean Lanier(3)
Anton van Rossum(2)
Aziz R. D. Syriani(1)(2)(3)
David W. Syz(3)
Ernst Tanner(4)
Peter F. Weibel(1)(3)
(1) Member of the Chairman's and Governance Committee,
chaired by Walter B. Kielholz
(2) Member of the Compensation Committee,
chaired by Aziz R. D. Syriani
(3) Member of the Audit Committee,
chaired by Peter F. Weibel
(4) Member of the Risk Committee,
chaired by Hans-Ulrich Doerig
The press release can also be downloaded from the following link:
http://hugin.info/100174/R/992052/149647.pdf
-0-
-0- Media Relations CREDIT SUISSE GROUP P.O. Box 1 CH-8070 Zurich www.credit-suisse.com Telephone +41 44 333 88 44 Telefax +41 44 333 88 77 media.relations@credit-suisse.com