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Banca del Gottardo acquires full control of Oudart SA, Paris

Lugano (ots)

Banca del Gottardo, Lugano, is acquiring one hundred per cent of
share capital in Oudart Group SA, a Paris asset management company,
of which Gottardo has been reference shareholder since 1999.
On 25 May 2004, Banca del Gottardo exercised its
option to acquire the remaining 61% of share capital in the asset
management company Oudart SA, Paris. The operation is part of the
Bank's strategic planning which defines France and Italy as priority
foreign markets for the development of its private domestic wealth
management activities.
Oudart Group, set up in Paris in 1987, is specialised in wealth
management for private clients and currently has assets of
approximately 1.7 billion Swiss francs in trust.
As at the end of March 2004, Banca del Gottardo's assets under
management amounted to a total of 40 billion Swiss francs in.The
Bank's solid results for the first four months of the current year
were over expectation.
Marco Netzer, Chief Executive Officer: "France is an important
market for Banca del Gottardo. With the acquisition of all of
Oudart's capital, we have taken another important step in our policy
of expansion in the French domestic market".
Both parties have agreed not to disclose any further details
concerning the transaction.
Banca del Gottardo, with head office in Lugano (Switzerland),
operates through a well expanded national and international network.
Thanks to its highly qualified teams of experts and its affiliates,
subsidiaries, branches and representative offices in Zurich, Geneva,
Lausanne, Bellinzona, Chiasso, Locarno, Bergamo, Milan, Turin,
Athens, Luxembourg, Monaco, Vienna, Hong Kong, Nassau (Bahamas), as
well in Paris, the bank offers top level financial services to its
local and international clientele.

Contact:

Banca del Gottardo
Franco Rogantini
Media Office
Viale S. Franscini 8
6901 Lugano
Phone: +41/91/808'33'60
Fax: +41/91/923'94'33
E-Mail: franco.rogantini@gottardo.com
Internet: http://www.gottardo.com

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