Investment Banking in India Disclaimer

Credit Suisse AG and applicable Credit Suisse's affiliates  ("Credit Suisse") regularly publish indicative prices ("Indicative Prices") on certain Market Data Networks in relation to various investment products, such as, inter alia, OTC derivative products, plain vanilla and structured securities as specified on the relevant Market Data Network page (the "Products").  In addition, Credit Suisse publishes regular indicative net asset values ("Indicative NAVs") for various Mutual Fund and Reference Fund units on certain Market Data Networks.

Credit Suisse's Indicative Prices and Indicative NAVs are provided for information purposes only. Although Credit Suisse's Indicative Prices and Indicative NAVs have been prepared by Credit Suisse based upon or by reference to sources, materials and systems that Credit Suisse believes to be reliable and accurate, Credit Suisse does not guarantee their completeness or accuracy.

Credit Suisse's Indicative Prices and Indicative NAVs have been prepared by reference to Credit Suisse's proprietary models and such other factors as Credit Suisse deems appropriate and may include indicative bid spreads, where relevant, for cash securities. Because Credit Suisse's Indicative Prices and Indicative NAVs are provided for information purposes only, they do not constitute an offer, or a solicitation of an offer, to conclude any transaction at the prices noted.

In addition, as Credit Suisse's Indicative Prices and Indicative NAVs are prepared as of a particular date and time, they will not reflect subsequent changes in market values or prices or in any other factors relevant to their determination.

Any potential counterparty or purchaser should not assume that the Indicative Prices and Indicative NAVs of all dealers would be equivalent. Generally speaking Indicative Prices, like actual "dealing prices", will vary from dealer to dealer.

Sometimes this variance may be substantial. Credit Suisse does not warrant that Credit Suisse's Indicative Prices and Indicative NAVs are or will be representative of the prices/values that may be provided to any potential counterparty or purchaser by other dealers or, in the case of Mutual Fund and Reference Fund units, by the relevant Mutual Fund or Reference Fund. For this reason Credit Suisse's Indicative Prices and Indicative NAVs do not establish, or constitute advice by Credit Suisse concerning, a "mark-to-market" value of any relevant Product or Mutual Fund or Reference Fund units, as the case may be.

Credit Suisse's Indicative Prices and Indicative NAVs may be different from the valuation of the same Product or Mutual Fund or Reference Fund units, as the case may be, that Credit Suisse may use for its own purposes, including those prepared in the utilisation of its own books and records.

Credit Suisse's Indicative Prices and Indicative NAVs reflect Credit Suisse theoretical (i.e. model) prices and values only and, therefore, do not reflect or take into account other potentially significant factors such as the extent to which it may be in Credit Suisse economic interest to reduce or eliminate capital charges or funding requirements or potential market, liquidity, credit, and other risks.

Credit Suisse may at any time decline to publish Indicative Prices and/or Indicative NAVs on any Market Data Network for any Product or Mutual Fund or Reference Fund units, notwithstanding that it may have previously published Indicative Prices and/or Indicative NAVs for the same or similar Product or Mutual Fund or Reference Fund units, as the case may be.

In addition, if there is, at any time prior to the time at which any of Credit Suisse Indicative Prices and/or Indicative NAVs are to be published on any Market Data Network, a suspension, unavailability for use, breakdown, failure or damage (however caused) of or to the database or any computer, communications or other service system used by Credit Suisse to generate Credit Suisse's Indicative Prices and Indicative NAVs.

Then Credit Suisse reserves the right, in its sole discretion, to postpone publishing such Indicative Prices and/or Indicative NAVs until it is reasonably practical to do so, following reinstatement of the database, any computer, communications or other service system used by Credit Suisse to generate such Indicative Prices and/or Indicative NAVs.

Any potential counterparty or purchaser should discuss with their auditors and any other advisors they deem appropriate whether and if so to what extent Credit Suisse's Indicative Prices and Indicative NAVs may be useful to them in connection with the preparation of their financial statements or for any other purpose.

Credit Suisse and/or Credit Suisse's Affiliates may, to the extent permitted by law, participate or invest in other financing transactions with the issuer(s) of the Products referred to herein, perfom services for or solicit business from such issuers, and/or have a position or effect transactions in the Products or options thereon. In addition, they may make markets in the Products mentioned on the relevant Market Data Network page.

Any U.S. customer wishing to effect a transaction in any of the Products mentioned in this report should do so only by contacting a representative at Credit Suisse Securities (USA) LLC in the U.S.

In respect of Credit Suisse's Indicative NAVs only:

Credit Suisse's Indicative NAVs do not take account of future fees and expenses associated with the relevant Mutual Fund or Reference Fund.

Credit Suisse makes no representation that the relevant Mutual Fund or Reference Fund will redeem units at the Indicative NAV published on Market Data Networks

Credit Suisse's Indicative NAV is an estimated one and has not been reviewed or approved by the relevant Mutual Fund or Reference Fund, its directors, its administrator or its auditors. Credit Suisse's Indicative NAVs are based, in part, upon historical data that has been provided to Credit Suisse by third parties and which Credit Suisse may not have verified.

Any potential purchaser of any relevant Mutual Fund or Reference Fund units should refer to the disclosure document prepared in connection with the relevant Mutual Fund or Reference Fund and note in particular the Investment Considerations set out therein, which continue to be relevant.