Changes Within The Board Of Directors Of The SWX Swiss Exchange

Changes Within The Board Of Directors Of The SWX Swiss Exchange At the General Meeting of the Association SWX Swiss Exchange of Friday, 23 April 2004, Andreas Donatsch resigned from the Board of Directors of the Association SWX Swiss Exchange as well as from that of the SWX. Mr Donatsch was a Member of the Board for 9 years and a member of the Audit Committee.

At the same time, Dr Dieter Sigrist resigned as Secretary of the Association and of the Board of Directors of the SWX. He will vacate his office at the end of May. Dr Sigrist worked for the SWX and its antecedents for over twenty years. He started out as a legal advisor for the Zurich stock exchange, and since then he has, among other things, managed the Secretariats of the Admission Board, the Association of Swiss Stock Exchanges, the EBS Committee and the Swiss Stock Exchange.

Reto Himmel, Chief Information and Technology Officer and Member of the Corporate Executive Board of Swiss Life, was appointed to succeed Mr Donatsch in the Board of Directors of the Association and in that of the SWX, and Richard A. Müller, attorney, was appointed to succeed Dr Sigrist as Secretary in a secondary capacity.