[R]9:00AM New York - Credit Suisse reported income from continuing operations rose 3% year-on-year to 8.5 billion francs in 2007 as strong revenue was generated in both Private and Investment Banking.[/R]

Quarterly Earnings Review

Credit Suisse reported fourth quarter net revenues slid to 9.4 billion francs from 10.8 billion francs a year ago as income from asset management plunged to 247 million francs from a profit of 89 million francs a year on valuation reductions of 774 million francs on securities purchased from the money market.

In the quarter ended December 31st, net income fell from 4.6 billion francs in the same comparative period ago to 1.3 billion francs on falling income from continuing operations to 86% from 2006 to 328 million francs and a 36% decline in net revenues fell 36% from a year ago because of credit market losses in the fixed income business.

Basic earnings per share plummeted to 1.30 francs from 4.35 francs in the same period last year.

Return on equity was 12.4% for the quarter.

Annual Earnings Review

Annual net revenues for the company grew by 6% to 40 billion francs from 38.6 billion francs year-on-year on strong growth in Private and Investment Banking.

Net income declined 25% to 8.5 billion francs from 11.3 billion francs a year ago as the 2006 figure was inclusive of 3 billion francs in income from discontinued operations.

Basic earnings per share for the year eased 20% to 8.18 francs from 10.30 francs a year earlier.

Credit Suisse proposed a cash dividend of 2.50 francs per share in 2007.

Revenue

Private Banking

Private Banking (Wealth Management and Corporate & Retail Banking) reported net income from continuing operations before taxes rose 19% from a year earlier to 5.4 billion francs in 2007.

In the fourth quarter, income from continuing operations before taxes increased 20% to 1.3 billion francs.

In the Wealth Management business income from continuing operations rose 19% from 2006to 3.8 billion. Net revenues increased to 17% and pretax income margin was 40.3% in 2007 vs. 39.6% in 2006.

In the fourth quarter, net income from continuing operations in the Wealth Management business rose 20% from the same period last year to 976 million francs. Net revenues also rose 19% on higher net interest income, and higher commissions and fees, especially from managed investment products and performance-based fees.

Pre-tax income margin was 39.4% in the quarter versus 39% last year.

Corporate & Retail Banking

Full-year revenues in the segment increased 19% to 1.6 billion francs in 2007 from a year ago. Net revenues rose 13% in 2007 to a record high and pre-tax income margin was 41.2% compared to 38.9% in 2006.