Credit Suisse Strengthens Distribution Capabilities in Australia

6 September 2006

Credit Suisse Holdings (Australia) Limited said today it has agreed to purchase a 25% equity stake in E.L. & C. Baillieu Stockbroking Ltd., in a move to further strengthen its distribution capabilities in Australia.

Baillieu is a full-service stockbroker that has been active in the Australian market since 1889. Headquartered in Melbourne, and with offices in Sydney and Bendigo, Baillieu services more than 30,000 active clients and provides advice on funds in excess of AUD$4 billion.

The strategic alliance, which is scheduled to commence from October 1, 2006, will enhance Credit Suisse’s ability to distribute products in Australia. Under the agreement, Baillieu will provide Credit Suisse with access to its retail distribution channels, while Credit Suisse will provide Baillieu access to its diversified product capabilities. Credit Suisse will have representation on Baillieu’s Board of Directors.

Credit Suisse Chief Executive Officer for Asia Pacific, Paul Calello, said the strategic alliance with Baillieu reflects Credit Suisse’s commitment to, and positive outlook for, the Australian market. “Earlier this year we announced plans to establish private banking in Australia by the end of the year,” Mr. Calello noted. “This strategic distribution alliance with Baillieu will further strengthen our capital markets business inAustralia, and indeed benefit all business divisions of Credit Suisse in Australia going forward.”

Credit Suisse Country Manager David Trude said Baillieu would provide access to a broader retail clientbase. “In Australia, a significant portion of Initial Public Offerings are sold to retail investors,” Mr. Trudesaid. “We believe this alliance with Baillieu, which is a well known and trusted name in the business, will enhance our distribution power significantly.”

Baillieu Chairman Ronald Hay commented that: “Baillieu is delighted to be entering an alliance with a global investment bank of the standing of Credit Suisse. We believe that this alliance will be extremely positive for the clients of Baillieu, and will assist us to grow the firm.”

Baillieu Chief Executive Officer Gavin Powell said: “This initiative will enable the firm to continue to meet its objective of providing high quality advice and research to its clients.”

Credit Suisse is currently ranked #3 in IPO league tables for Australia/New Zealand, with a market share of 19.1%. In the last year, Credit Suisse led major Australian transactions, including IPOs for GoodmanFielder Limited, Emeco Holdings Ltd., and Dyno Nobel Ltd.

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