Salary Increases for Bank Employees as of January 1, 2010

Zurich, The staff council and employer representatives of Credit Suisse Group in Switzerland have concluded the salary negotiations for 2010. The social partners agreed on a figure of 1% of the payroll as the sum available for individual and performance-related salary increases. Furthermore, the internal salary structures are being reviewed and in this regard an additional 1% of the payroll will be made available, as necessary. The salary adjustments will take effect as of January 1, 2010, instead of April 1 as previously.

The provision applies to employees in Switzerland who are subject to the Agreement on Conditions of Employment for Bank Staff (ACEBS), up to and including those at Assistant Vice President level.

The salary increases negotiated in previous years were 1.8% for 2009, and 2.5% for 2008.