All Motions Approved at BCV’s Annual Meeting

BCV's Annual Shareholders’ Meeting was held today at the Palais de Beaulieu in Lausanne, Switzerland. Shareholders approved all motions submitted by the Board of Directors, including the proposed distribution of an ordinary dividend of CHF 7 per share after payment of a preference dividend of CHF 2.69 per participation certificate. They also approved the buyback of the Bank’s remaining participation-certificate capital in the amount of CHF 733.7m. Finally, they were informed of plans by the Board of Directors to make gradual changes to its membership.

Lausanne, Switzerland, 26 April 2007 – The Annual Meeting of BCV Group was attended by 850 shareholders, representing 75,06 % of the Group's capital. The shareholders adopted all motions on the agenda. They approved the consolidated financial statements for 2006, which showed a CHF 457m net profit, and gave discharge to the Board of Directors for the year under review. The proposal to distribute an ordinary dividend of CHF 7 per share after the preference-dividend payout of CHF 2.69 per participation certificate was accepted. Shareholders also approved amendments to the Bank's Articles of Incorporation to take account of the new cantonal law governing the BCV and renewed the term of office of the Bank’s auditor, KPMG SA.

The Board of Directors

Chairman Olivier Steimer informed shareholders of the plan by the Board of Directors to make gradual changes to its membership. As part of this process, two members have announced their intention to resign before the expiry of their terms of office. Paul Hasenfratz, member of the Board since 2002 and Vice-Chairman since February 2003, will step down at 31 December 2007. His successor as Vice-Chairman will be appointed by the Vaud Cantonal Government. André Pugin, member of the Board since 2002, will step down at the 2008 Annual Shareholders' Meeting. His replacement candidate will be nominated by the Board of Directors at that time.

Participation-certificate capital

Shareholders approved the buyback of BCV’s remaining participation-certificate capital in the nominal amount of CHF 460,486,875. To do this, the Bank will repurchase and cancel 7,367,790 certificates at a unit price of CHF 99.58.

Contact(s)

Christian Jacot-Descombes, Press Officer
Phone + 41 21 212 28 61
E-mail

This press release is being issued outside the trading hours of the SIX, Swiss Exchange in order to comply with the principles of ad hoc disclosure pursuant to the SIX listing rules.