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BANK OF NEW YORK SELECTED FOR NEW SPONSORED ADR BY CS HOLDING

 NEW YORK, April 27 /PRNewswire/ -- The Bank of New York announced today that CS Holding has selected the bank as the depositary for its new American Depositary Receipt (ADR) facility, which has been declared effective by the Securities and Exchange Commission. The ADRs will trade on the over-the-counter market.
 CS Holding conducts business through the following group companies: Credit Suisse, an international full-service bank; the CS First Boston Group, Inc., a full-service investment banking firm; Leu Holding Ltd., the parent company of Bank Leu Ltd., Bank Hofmann AG, Claridon Bank, and Bank Heussor & Co. Ltd.; Swiss Volksbank, a major retail banker in Switzerland; Fides Trust Ltd., which provides portfolio management, offshore trust and business management, and institutional administration services; Fides Informatik, active in the information technology sector; CS Life, a life insurance company; and Credit Suisse Financial Products, which offers swaps and other derivative products worldwide. It also has a controlling interest in Electrowatt Ltd. CS Holding is domiciled in Switzerland, and its bearer shares are listed on the Zurich, Basle, Geneva, Frankfurt, and Tokyo stock exchanges.
 The Bank of New York is the world's largest depositary for American and Global Depositary Receipt facilities, which allow foreign companies to offer their dollar-denominated securities to investors in the United States. The bank has increased its market position consistently so that by the end of 1992 it accounted for over 50 percent of all sponsored depositary receipt programs. The bank currently issues depositary receipts for more than 649 non-U.S. companies representing 33 countries.
 The Bank of New York was founded in 1784 by Alexander Hamilton and is the nation's oldest bank operating under its original name. It is the principal subsidiary of The Bank of New York, Inc. (NYSE: BK), which is the 17th largest bank holding company in the United States, with total assets of $40.1 billion as of March 31, 1993. The company provides a complete range of banking and other financial services to corporations and individuals worldwide through its five basic businesses: Corporate Banking, Retail Banking, Securities and Other Processing, Trust and Investment Management, and Financial Market Services. The company's stock is traded on the New York Stock Exchange under the symbol BK.
 -0- 4/27/93
 /CONTACT: Margaret Southerland, 212-495-1725; or Kenneth A. Lopian, American Depositary Receipt Division, 212-815-2084, both of Bank of New York/
 (BK)


CO: The Bank of New York; CS Holding ST: New York IN: FIN SU:

GK -- NY039 -- 1203 04/27/93 09:47 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
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