Credit Suisse completes sale of part of Global Investors business to Aberdeen Asset Management

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Credit Suisse today announced that it has successfully completed the sale of part of its Global Investors traditional asset management business to Aberdeen Asset Management. It now holds 240 million of Aberdeen shares, which are equivalent to a 23.9% equity stake in Aberdeen. Credit Suisse will be represented on the Board of Directors of Aberdeen Asset Management.

On December 31, 2008, Credit Suisse announced that it had signed an agreement to sell part of its Global Investors (GI) business to Aberdeen Asset Management. The sale comprised CHF 75 billion of assets under management as per December 31, 2008, and includes the majority of the GI business in Europe, the United States and Asia Pacific.

Credit Suisse is subject to a staggered, three year lock-up with respect to the Aberdeen shares, and a three year standstill, preventing Credit Suisse from acquiring 25.0% or more of Aberdeen's share capital. As part of the transaction, Credit Suisse and Aberdeen have created a mutually beneficial and enhanced distribution framework for both Credit Suisse and Aberdeen products.

Rob Shafir, CEO of Asset Management at Credit Suisse, said: "The successful close of this transaction represents a significant step forward in our strategy of focusing our resources on our alternatives, asset allocation/Multi Asset Class Solutions (MACS) and Swiss businesses. Our partnership with Aberdeen also offers our asset management clients a compelling opportunity: access to an enhanced suite of investment products provided by a premier international manager with strong performance across a variety of asset classes. Asset Management is one of Credit Suisse's core businesses, allowing us to deliver the full integrated bank to our clients around the world, working closely with our Private Banking and Investment Banking partners."

Aberdeen Asset Management is one of the UK's leading providers of institutional asset management services, and a top-tier active global manager of equities, fixed income and property assets in aggregated, closed and open-ended pooled structures. Aberdeen's total assets under management were GBP 96.3 billion as of March 31, 2009.

Enquiries:

• Media Relations Credit Suisse Zurich,Tel. +41 844 33 88 44,media.relations@credit-suisse.com
• Media Relations Credit Suisse London,Tel. +44 207 883 9760,communications.am@credit-suisse.com
• Investor Relations Credit Suisse,Tel. +41 44 333 71 49,investor.relations@credit-suisse.com

Credit Suisse
As one of the world's leading banks, Credit Suisse provides its clients with private banking, investment 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 46,700 people. Credit Suisse is comprised of a number of legal entities around the world and is headquartered in Zurich. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, 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.

Asset Management
In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including alternative investments such as private equity, hedge funds, real estate and credit, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 23 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.

All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.

Cautionary statement regarding forward-looking information and non-GAAP information
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act. In addition, in the future we, and others on our behalf, may make statements that constitute forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to the following:
- our plans, objectives or goals;
- our future economic performance or prospects;
- the potential effect on our future performance of certain contingencies; and
- assumptions underlying any such statements.
Words such as "believes," "anticipates," "expects," "intends" and "plans" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. We do not intend to update these forward-looking statements except as may be required by applicable securities laws. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include:
- the ability to maintain sufficient liquidity and access capital markets;
- market and interest rate fluctuations;
- the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations, in particular the risk of a continued US or global economic downturn in 2008 and beyond;
- the direct and indirect impacts of continuing deterioration of subprime and other real estate markets;
- further adverse rating actions by credit rating agencies in respect of structured credit products or other credit-related exposures or of monoline insurers;
- the ability of counterparties to meet their obligations to us;
- the effects of, and changes in, fiscal, monetary, trade and tax policies, and currency fluctuations;
- political and social developments, including war, civil unrest or terrorist activity;
- the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations;
- operational factors such as systems failure, human error, or the failure to implement procedures properly;
- actions taken by regulators with respect to our business and practices in one or more of the countries in which we conduct our operations;
- the effects of changes in laws, regulations or accounting policies or practices;
- competition in geographic and business areas in which we conduct our operations;
- the ability to retain and recruit qualified personnel;
- the ability to maintain our reputation and promote our brand;
- the ability to increase market share and control expenses;
- technological changes;
- the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users;
- acquisitions, including the ability to integrate acquired businesses successfully, and divestitures, including the ability to sell non-core assets;
- the adverse resolution of litigation and other contingencies; and
- our success at managing the risks involved in the foregoing.
We caution you that the foregoing list of important factors is not exclusive. When evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, as well as the information set forth in our Form 20-F Item 3 - Key Information - Risk Factors
This press release contains non-GAAP financial information. Information needed to reconcile such non-GAAP financial information to the most directly comparable measures under GAAP can be found in the Credit Suisse Financial Report 1Q09.

News Source : Credit Suisse completes sale of part of Global Investors business to Aberdeen Asset Management