SWX Swiss Exchange: Rules Governing The Duty To Disclose Management Transactions: Consultation Period Closed

A total of 46 comments were received during the consultation period. The published comments can be found under http://www.swx.com/admission/consultation_dd_en.html.

3 issuers submitted confidential comments.

Following a thorough analysis of the arguments raised in the course of the consultation procedure, the Disclosure Office will decide in October on the further steps to be taken. If a ruling is approved - allowing issuers an appropriate period for implementation - it cannot be expected to enter into force before the first half of 2004.