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Results for the first Half of 2008Results for the first Half of 2008ZZrichrich, 29. J uly 2008, 29. J uly 2008

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1. Halbjahr 2008

2. Quartal 2008

Neue Dienstleistungen

Bilanz

Komplette Kennzahlen

AgendaAgenda

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First Half 2008First Half 2008

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0

20'000

40'000

60'000

80'000

100'000

120'000

H1 2005 H1 2006 H1 2007 H1 2008

Trading Clients

CHF millio n

Accelerated client growthAccelerated client growth

35,5% 35,5% client growth compared to

same period last year

12600 new trading clients in thefirst half of 2008

Additional 771 clients with saving

accounts

More than 100 new clients perday

Ambitious growth target of25000

new clients in 2008 maintained

Several thousands savingaccounts by the end of the year

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164

491

616.6

739.3

0

100

200

300

400

500

600

700

800

H1 2005 H1 2006 H1 2007 H1 2008

Net New Monies

CHF millio n

19,9% higher inflow of Assets over2007

740 million record net new moniesin the first half

Goal for 2008: 1.2 Billion net newmonies

5.9 million net inflow of new moniesper day

Growth with quality. Clients arebringing more assets.

Record net new moniesRecord net new monies

19,9%

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Revenues & profitability maintained despite market turmoilRevenues & profitability maintained despite market turmoil

0

10'000

20'000

30'000

40'000

50'000

60'000

H1 2005 H1 2006 H1 2007 H1 2008

Net Revenues

CHF milli on

0

5'000

10'000

15'000

20'000

25'000

30'000

H1 2005 H1 2006 H1 2007 H1 2008

Net Profit

CHF milli on

54.6 million revenues in the firsthalf at 2007 levels

Lower activity compensated bystrong client growth

0,1%

-9.0%

Profits down by 9% due to highermarketing expenditures andrelocating costs

Net profit of 22.3 million

Operating profit margin: 51.9%,Net profit margin: 40.8%

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H1H1--20072007

+0.1%+0.1%

--9.0%9.0%

+36.5%+36.5%

--2.5%2.5%

+0.1m+0.1m

--2.2m2.2m

+27+27867867

--141m141m

+25.2%+25.2%+27.4m+27.4m

54.6m54.6m

22.3m22.3m

104104247247

55508m508m

136.3m136.3m

--7.4%7.4%--2.3m2.3m28.3m28.3m

H1H1--20082008

RevenuesRevenues

Net profitNet profit

ClientsClients

Assets u. custodyAssets u. custody

EquityEquity

Operating profitOperating profit

Key figures for first Half of 2008 (compared with previous year)Key figures for first Half of 2008 (compared with previous year)

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Second quarter 2008Second quarter 2008

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020406080100120140160

180200220240260280300

320340360

200002500030000350004000045000500005500060000

65000700007500080000850009000095000

100000105000110000

janv..

03

avr..

03

juil..

03

oct..0

3

janv..

04

avr..

04

juil..

04

oct..0

4

janv..

05

avr..

05

juil..

05

oct..0

5

janv..

06

avr..

06

juil..

06

oct..0

6

janv..

07

avr..

07

juil..

07

oct..0

7

janv..

08

avr..

08

juil..

08

Total Accounts [T,C,M] Requests

Ongoing accelerated growthOngoing accelerated growth

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5782

771

0

1'000

2'000

3'000

4'000

5'000

6'000

7'000

8'000

9'000

Q3-05

Q4-05

Q1-06

Q2-06

Q3-06

Q4-06

Q1-07

Q2-07

Q3-07

Q4-07

Q1-08

Q2-08

Saving Client Growth

Trading Client Growth

Higher client growth since 2007Higher client growth since 2007

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1'500

2'000

2'500

3'000

3'5004'000

4'500

5'000

5'500

6'000

6'500

Q3-05

Q4-05

Q1-06

Q2-06

Q3-06

Q4-06

Q1-07

Q2-07

Q3-07

Q4-07

Q1-08

Q2-08

CHF million

Customer assets increase by 2.9% ...Customer assets increase by 2.9% ...

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414.4

324.9

0

50

100

150

200

250

300

350

400

450

Q3-05

Q4-05

Q1-06

Q2-06

Q3-06

Q4-06

Q1-07

Q2-07

Q3-07

Q4-07

Q1-08

Q2-08

CHF m

thanks to 325 million net assets inflow in the 2nd quarterthanks to 325 million net assets inflow in the 2nd quarter

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0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

0

1'000

2'000

3'000

4'000

5'000

6'000

7'000

8'000

9'000

Q3-05

Q4-05

Q1-06

Q2-06

Q3-06

Q4-06

Q1-07

Q2-07

Q3-07

Q4-07

Q1-08

Q2-08

darts tpcpy

Daily average revenue transactions (darts) stableDaily average revenue transactions (darts) stable

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Transactions per client per year at the lower end of ourTransactions per client per year at the lower end of our bandwithbandwith

0

5

10

15

20

25

30

35

40

45

50

01

.oct.

0

1.n

ov.

0

1.d

c.

0

1.j

anv.

0

1.f

vr.

01

.mars

01

.avr.

01

.ma

i

01

.ju

in

01

.ju

il.

0

1.a

ot

01

.sept.

Trades per client per year

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Lower operating costs per clientLower operating costs per client

144 147 146 145 135 125 124 135 128 120104 98 97

26 29 29 30 31 27 32 28 27 37 30 25 22

235

277295

373

325

285

341

403376

348325

293268

0

50

100

150

200

250

300

350

400

450

Q2-05

Q3-05

Q4-05

Q1-06

Q2-06

Q3-06

Q4-06

Q1-07

Q2-07

Q3-07

Q4-07

Q1-08

Q2-08

Costs Marketing Revenues

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Stable revenue margins at 2%Stable revenue margins at 2%

0

50

100

150

200

250

0

1'000

2'000

3'000

4'000

5'000

6'000

7'000

Q3

-05

Q4

-05

Q1

-06

Q2

-06

Q3

-06

Q4

-06

Q1

-07

Q2

-07

Q3

-07

Q4

-07

Q1

-08

Q2

-08

Assets under Custody Asset Margin

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Revenues influenced by market turmoilRevenues influenced by market turmoil

0

2'500

5'000

7'500

10'000

12'50015'000

17'500

20'000

22'500

25'000

27'500

30'000

32'500

Q3-05

Q4-05

Q1-06

Q2-06

Q3-06

Q4-06

Q1-07

Q2-07

Q3-07

Q4-07

Q1-08

Q2-08

Operating Profit

Quarterly Revenues

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Q1Q1--20082008

--2.2%2.2%

--6.4%6.4%

+6.7%+6.7%

+2.9%+2.9%

--0.6m0.6m

--0.7m0.7m

+6+6553553

+154m+154m

+0.7%+0.7%+1.0m+1.0m

27.0m27.0m

10.7m10.7m

104104247247

55508m508m

136.3m136.3m

--6.6%6.6%--1.0m1.0m13.6m13.6m

Q2Q2--20082008

Key figures for 2Key figures for 2ndnd quarter 2008 (compared with previous quarter)quarter 2008 (compared with previous quarter)

RevenuesRevenues

Net profitNet profit

ClientsClients

Assets u. custodyAssets u. custody

EquityEquity

Operating profitOperating profit

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New products and servicesNew products and services

FXBook, the Forex platform from Swissquote

The dynamic saving account Swissquote iPhone Application

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FXBookFXBook, the, the ForexForex platform from Swissquoteplatform from Swissquote

Successful launch of the newForex platform (1st April 2008)

Strong growth

Since launch the platformexecutes a daily volume ofapprox USD 150 million

~700 transactions per day

Generates revenues of CHF10000 per day

Trading results increased by28.5% to CHF 2.4 million.

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The dynamic saving accountThe dynamic saving account

Successful start of our savingaccount strategy(15. Mai 2008)

Strong growth

Daily assets inflow of approx CHF0,4 million

At 22ndJ uly 18 million in total and1000 clients.

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SwissquoteSwissquote iPhoneiPhone applicationapplication

Genuine iPhone application forthe new 3G iPhone

Exhaustive financial portal forthe Swiss market

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Online trading interface withSwissquote Bank

Can be downloaded free ofcharge from any iTunesApplication store.

SwissquoteSwissquote iPhoneiPhone applicationapplication

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Balance SheetBalance Sheet

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Balance sheet per 31Balance sheet per 31stst March 2008March 2008

[CHF m] 30 June 2008 31 Dec. 2007 Change %

ASSETS

Cash & deposits 1,138.8 1,103.2 35.6 3.1%

Loans to customers 89.3 93.4 (4.1) -4.6%

Investment securities 69.4 72.3 (2.9) -4.2%

Property & systems 30.6 28.7 1.9 6.2%Other assets 24.8 13.4 11.4 46.0%

Total assets 1,352.9 1,311.0 41.9 3.1%

LIABILITIES AND EQUITY

LiabilitiesDue to customers 1,168.0 1,143.6 24.4 2.1%

Other liabilities 48.6 40.9 7.7 15.8%

Total liabili ties 1,216.6 1,184.5 32.1 2.6%

Equity

Ordinary shares 2.9 7.3 4.4- -151.7%

Reserves & retained earnings 149.9 133.0 16.9 11.3%

Treasury shares (16.5) (13.8) (2.7) 16.4%

Total equity 136.3 126.5 9.8 7.2%

Total liabilities and equity 1,352.9 1,311.0 41.9 3.1%

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Key figuresKey figures

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