issued in accordance with the EU Transparency Directive

Zurich, 9 May 2008 — Julius Baer Group’s business performance in thefirst four months of 2008 was satisfactory given the continued difficult marketenvironment. While assets under management suffered from the appreciation of theSwiss franc and negative market performance, net new money was significant, witha sustained strong contribution from Private Banking. The investment in futuregrowth continued successfully as reflected in the opening of new locations andfurther key hirings. As a result of its exclusive focus on the wealth managementbusiness, Julius Baer did not experience losses related to the credit andliquidity crisis.

Unfavourable currency effects, mainly resulting from the strengthening of theSwiss franc against US dollar, euro and pound sterling, as well as weak equitymarkets led to declining levels of assets under management in the course of thefirst four months of 2008. The Group’s net new money was significant with astrong contribution again from Private Banking.

The Group’s revenue development remained satisfactory although fee andcommission income is beginning to show the effect of the lower asset base. Wecontinued to invest in the further expansion of our franchise.

The Group also reaffirms its capital management policy of returning excesscapital to ahareholders, as evidenced by the current buyback programme, whilemaintaining the BIS Tier 1 ratio target of 12% under Basel II.

Recent events

On 3 January 2008, Bank Julius Baer & Co. Ltd. opened a branch inVerbier and on 19 March 2008 a representative office in Moscow.

On 12 February 2008, Julius Baer Holding Ltd. announced its intention to IPOits US asset management business.

On 15 April 2008, the Ordinary Annual General Meeting of Julius Baer HoldingLtd. approved the share capital reduction by cancelling 12 222 222 shares heldby the Company, thus reducing the number of registered shares to 211 034 256effective at the end of June. Shareholders also approved the share buybackprogramme for 2008–2010 for a maximum amount of CHF 2 billion which waslaunched on the second trading line of SWX Europe on 21 April 2008. Details ofthe progress of this buyback programme are available on the Julius Baer website(www.juliusbaer.com) and on the websiteof the SWX Swiss Exchange (www.swx.com).


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

About Julius Baer

The Julius Baer Group is the leading dedicated wealth manager in Switzerland.The Group, which has roots dating to the nineteenth century, concentratesexclusively on private banking and asset management for private andinstitutional clients. With some 4 000 employees worldwide, the Group managedassets in excess of CHF 400 billion at the end of 2007. The Julius BaerGroup’s global presence comprises more than 30 locations in Europe, NorthAmerica, Latin America and Asia, including Zurich (head office), Buenos Aires,Dubai, Frankfurt, Geneva, Hong Kong, London, Lugano, Milan, Moscow, New York,Singapore and Tokyo. Bank Julius Baer and GAM, a leading global active assetmanager, are the key companies of the Group. The shares of Julius Baer HoldingLtd. are listed on the SWX Swiss Exchange and form part of the Swiss MarketIndex SMI which comprises the 20 largest and most liquid stocks.

For more information: www.juliusbaer.com


Bahnhofstrasse 36, P.O. Box, CH-8010 Zurich, Telephone +41 (0)58 888 5777, Telefax +41 (0) 58 888 5144, www.juliusbaer.com