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Press Release

Extraordinary General Meeting of Julius Baer Holding Ltd.

Tuesday, June 30, 2009

At today's Extraordinary General Meeting of Julius Baer Holding Ltd., the shareholders approved the separation of Julius Baer's Private Banking and Asset Management businesses into two fully independent entities, both inpidually listed on the SIX Swiss Exchange.

Following the completion of the transaction, Julius Baer Group Ltd. will focus on private banking services while GAM Holding Ltd. will concentrate on active asset management. This move will substantially increase the two companies' strategic flexibility and enhance their market visibility. The transaction is expected to be completed during the third quarter 2009, subject to regulatory approvals.

In detail, the Extraordinary General Meeting of Julius Baer Holding Ltd. passed the following resolutions:

  • The conversion of legal reserves info free reserves was approved.
  • The change of corporate purpose by amending the Articles of Incorporation was approved.
  • The separation of the Private Banking and the Asset Management businesses, subject to regulatory approvals,was approved with shareholders agreeing to
    - the distribution of a special pidend at the due date as determined by the Company
    - the change of name at the due date of the special pidend by amending the Articles of Incorporation
    - the election of Johannes A. de Gier, Hugh Scott-Barret and Dieter A. Enkelmann as members of the Board of Directors, replacing the current members at the due date of the special pidend expected at the end of the third quarter 2009.
  • The termination of the share buyback programme 2008-2010 approved by the Ordinary Annual General Meeting 2008 was passed with the technical cessation of the programme to be executed within in the next few days.

As a result of a detailed analysis, the preferred securities in the amount of CHF 225 million will not be bought back. It is the intention to transfer the preferred securities to the balance sheet of Julius Baer Group Ltd, subject to third-party approval.

The presentation to the Extraordinary General Meeting may be accessed via www.juliusbaer.com/egm.


Contacts:

Media Relations: Tel. +41 (0)58 888 5777
Investor Relations: Tel. +41 (0)58 888 5256

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