swissfirst AG

euro adhoc: Swissfirst AG
Integration process progressing more quickly than planned

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- Integration process for Bellevue Group/swissfirst Group progressing
more      quickly than planned; consolidation as early as 1 October
2005 - Thanks to the successful placement of a CHF bond on the Swiss
capital market,      no capital increase will be required, obviating
the need for an extraordinary      general meeting - Possible legal
action by a swissfirst shareholder in connection with the      Bellevue
Group/swissfirst Group merger

On 12 September 2005, the Zug-based swissfirst Group, which is listed on the SWX Swiss Exchange, and the Küsnacht-based Bellevue Group announced that they were to merge. The integration process is progressing more quickly than planned. swissfirst Group raised the cash required for the transaction via a 2 1/8% CHF-denominated bond with a volume of CHF 150 million issued by swissfirst Bank AG, Zurich, the lead managers being Basler Kantonalbank, Bayerischen Hypo- und Vereinsbank AG and Bank am Bellevue. Given that this placement was a success, a capital increase will no longer be required in connection with the transaction. This obviates the need for an extraordinary general meeting. The designated members of the Board of Directors - Martin Bisang, Daniel Schlatter and Thomas Matter - will be proposed to the shareholders at the ordinary general meeting on 6 May 2006. The existing Board of Directors will step down as of this date.

A shareholder intends to take legal action in connection with the merger between Bellevue and swissfirst Group and a related share transaction. swissfirst sees no legal basis for this, given that both the relevant transaction and the procedure were reviewed by highly respected legal experts and found to be legal. Furthermore, the pertinent authorities were informed about the transaction in good time.

The 3Q05 figures of swissfirst AG will be published as planned on 25 November 2005, with a subsequent meeting for investors.

swissfirst is an independent financial group listed on the SWX Swiss Exchange that specializes in investment banking, private banking and asset management. Its business operations are especially geared toward portfolio management and investment advisory services for private and institutional clients and toward the corporate finance business. swissfirst is focused on the Swiss market, Swiss products and Swiss know-how.

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ots Originaltext: swissfirst AG
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Further inquiry note:
swissfirst Group press office
c/o Richterich & Partner, Christoph Richterich
Tel. +41 (43) 499 50 00

Branche: Banking
ISIN:      CH0003376818
WKN:        929068
Index:    SPI
Börsen:  SWX Swiss Exchange / official market

Weitere Meldungen: swissfirst AG

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