Bank J. Safra Sarasin AG

euro adhoc: Bank Sarasin + Cie AG
Quarterly or Semiannual Financial Statements
Half-year results of Bank Sarasin & Co. Ltd, Basel (E)

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Return to normality: Healthy operating result in difficult market environment

In the first half of 2003 Bank Sarasin & Co. Ltd achieved an operating result of CHF 29 million and a group profit of CHF 31 million. The figure of CHF 29 million amounts to just under 90% of the corresponding result for the whole of 2002.

Operating income declined by 11% because of the market environment. Since costs were also cut back by 11%, it was possible to keep operating profit fairly stable (-12%) compared with the first half of 2002.

Total assets under management increased by CHF 791 million over the end of 2002 to stand at CHF 47.2 billion.

For additional information go to http://www.sarasin.ch/sarasin/show/news/news_main/1,1066,0-0-1,00.html?path_login=

Further information:

Matthias Hassels, Chief Financial Officer, Investor Relations
Tel. +41/61/277 77 28      Fax. +41/61/277 75 18
E-mail: matthias.hassels@sarasin.ch

Dr Benedikt Gratzl, Corporate Communications, Media Relations
Tel. +41/61/277 70 88      Fax. +41/61/277 77 30
E-mail: benedikt.gratzl@sarasin.ch

end of announcement            euro adhoc 26.08.2003
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Further inquiry note: Dr. Benedikt Gratzl Head of Corporate Communications, Media Relations T.: +49(61)277 70 88 benedikt.gratzl@sarasin.ch

Branche: Banking
ISIN:      CH0002267737
WKN:        872869
Index:    SPI
Börsen:  SWX Swiss Exchange / regulated dealing



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