Corporate Press Release

Press Release

Credit Suisse AG Announces the Split of its VelocityShares™ Daily Inverse VIX Short Term ETN and VelocityShares™ Daily Inverse VIX Medium Term ETN

Credit Suisse AG announced today that it will implement a 10-for-1 split of its VelocityShares™ Daily Inverse VIX Short Term ETN linked to the S&P 500 VIX Short-Term Futures™ Index (traded on the NYSE Arca under ticker symbol XIV) and an 8-for-1 split of its VelocityShares™ Daily Inverse VIX Medium Term ETN linked to the S&P 500 VIX Mid-Term Futures™ Index (traded on the NYSE Arca under ticker symbol ZIV) effective Monday, June 27, 2011. On June 15, 2011, the closing indicative value of the XIV ETNs was $159.76 and the closing indicative value of the ZIV ETNs was $130.91.

The split will affect ETN trading denominations, but it will not have any effect on the principal amount of the underlying notes.

The record date for the split of each of the ETNs will be the close of business, New York time, on June 23, 2011. The payment date will be June 24, 2011. The closing indicative value of the XIV ETNs and the ZIV ETNs on June 24, 2011 will be divided by ten and eight, respectively, to determine the split-adjusted value of the ETNs on June 27, 2011. The split of each of the ETNs will be effective at the close of trading on June 24, 2011 and the ETNs will begin trading on the NYSE Arca on a split-adjusted basis on June 27, 2011.