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Credit Suisse Agrees to Sell Part of Global Investors business to Aberdeen Asset Management in return for a 24.9% interest

Transaction advances Credit Suisse’s strategy to focus on core asset management businesses; greater alignment with integrated bank

Zurich, June 22, 2009

Credit Suisse announced on 31 December 2008 that it signed an agreement to sell part of its Global Investors (“GI”) traditional asset management business in return for up to 24.9% of the enlarged share capital of Aberdeen Asset Management (PDF)(opens in new window) The stake is valued at approximately CHF 381 million (GBP 250 million) as of December 30, 2008. The sale comprises CHF 75 billion of assets under management and includes the majority of the GI business in Europe, the US, and Asia Pacific. As part of the transaction, Credit Suisse will have a seat on the Board of Aberdeen. The transaction is subject to customary closing conditions, including regulatory approvals in various jurisdictions and approval by Aberdeen shareholders, and is expected to close in the second quarter of 2009. Read full press release (PDF)(opens in new window) .

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