BCV Group completes buyback of participation-certificate capital

BCV has repurchased the remaining tranche of its participation-certificate capital in the amount of CHF 733.7m. With this transaction, which took place yesterday, the Bank has definitively closed the book on its 2003 recapitalization.

Lausanne, Switzerland, 5 July 2007 – Pursuant to the resolutions adopted by the shareholders at their Annual Meeting on 26 April 2007 in Lausanne, BCV has repurchased the final tranche of the participation-certificate capital it issued in 2003 in order to strengthen provisions and ensure compliance with capital-adequacy rules. The Bank bought back the remaining capital with a nominal value of CHF 460,486,875, and cancelled the corresponding 7,367,790 participation certificates at a unit price of CHF 99.58 each. The transaction, in the amount of CHF 733.7m, took place yesterday.

All the issued participation-certificate capital has now been repurchased. The buyback, which was completed much more quickly than originally expected, marks the end of a difficult period in the Bank’s recent past.

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Christian Jacot-Descombes, Press Officer
Phone + 41 21 212 28 61
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Wilhelm Blaeuer, Investor relations
Phone + 41 21 212 20 71
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