Credit Suisse to Acquire Majority Interest in Hedging-Griffo, a Leading Brazilian Wealth Manager.

ZURICH, Switzerland & SAO PAULO, Brazil -- Credit Suisse announced today that it has signed an agreement to acquire a majority interest in Hedging-Griffo, a leading independent Asset Management and Private Banking company in Brazil for CHF 358 million in cash (USD 294 million/BRL 635 million). The acquisition supports Credit Suisse's integrated bank strategy by adding significant scale to its onshore Asset Management and Private Banking businesses, and complements Credit Suisse's position as the premier Investment Bank in Brazil. Credit Suisse will acquire a 50 percent stake in Hedging-Griffo, plus one share, which corresponds to approximately 9.5x current year earnings. Under the terms of the transaction, the parties have entered into an option arrangement whereby Credit Suisse may acquire, and the current shareholders may sell, the remaining stake in Hedging-Griffo after five years.

The transaction is subject to approval by the Central Bank of Brazil and is expected to close by the middle of 2007. Upon closing, Hedging-Griffo will operate as Credit Suisse Hedging-Griffo. All the partners of Hedging-Griffo have signed long-term contracts with Credit Suisse.

Hedging-Griffo is a leading independent Asset Management and Private Banking company serving the high-growth Brazilian market. Hedging-Griffo manages CHF 9.2 billion (USD 7.6 billion/ BRL 15.9 billion) for high-net worth individuals in Brazil and over the past three years assets under management have increased at an average annual growth rate of 38.5 percent. The company focuses on hedge funds, equity funds, and fund of funds domestically and internationally.

Credit Suisse has built the leading Investment Banking business in Brazil following its acquisition of Banco Garantia in 1998. With the acquisition of Hedging-Griffo, Credit Suisse will now be able to offer clients in Brazil the benefits of the integrated bank through the addition of a first class Asset Management and Private Banking platform.

The transaction is also another example of Credit Suisse executing its strategy to establish and build its onshore wealth management franchise in key growth markets around the world, having most recently opened offices in Moscow and Sydney. This strategy has benefited from the trend in many markets, including Brazil, of clients increasingly seeking to have their assets managed onshore.

Antonio Quintella, Chief Executive Officer of Banco de Investimentos Credit Suisse (Brasil) S.A., said, "This transaction combines the leading independent Private Banking and Asset Management company in Brazil with the leading Investment Bank in Brazil. As part of Credit Suisse, Hedging-Griffo clients will benefit from access to the global resources of one of the world's premier banks. We look forward to strengthening our platform in partnership with the Hedging-Griffo team whose expertise, spirit and client focus has made their business so successful."

Anthony DeChellis, Managing Director and Head of Private Banking Americas for Credit Suisse, said, "We are committed to growing our onshore Private Banking presence in Brazil, a core market for Credit Suisse. Hedging-Griffo is the right partner with which to join forces to serve high-net worth and ultra-high net worth individuals in the country. In addition, Hedging-Griffo's industry leading Asset Management business is highly complementary to Credit Suisse's Asset Management operations in Brazil."

Luis Stuhlberger, one of the four Hedging-Griffo Senior Partners, said, "We are very proud to work together with Credit Suisse, which is the ideal partner for Hedging-Griffo and its clients. We plan to move forward with our excellence in management, product development, and complement our competencies with the global reach of Credit Suisse, drawing on the synergies provided by a leading investment bank."

Credit Suisse has operated in Brazil since 1990 and through its Investment Banking operations, Banco de Investimentos Credit Suisse (Brasil) S.A., the firm is the leading Investment Bank in Brazil and the largest foreign broker.

The Credit Suisse and Hedging-Griffo businesses further complement each other as Hedging-Griffo is the 4th largest Brazilian Stock Exchange (Bovespa) brokerage house and it has the second largest commodities trading desk in Brazil, adding to Credit Suisse's leading presence in these markets.

For further information: http://www.credit-suisse.com/hedging-griffo

Credit Suisse

As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 40,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Hedging-Griffo

Hedging-Griffo is a fund manager, wholly-owned by national capital, which specializes in three business areas: private banking, asset management and brokerage. With 25 years of market experience, the company's target is to seek results based on a strong strategy of fund allocation and the pursuit of excellence. Its horizontal structure, with an emphasis on partnership, enables clients to be in much closer contact with all the business areas.

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