EANS-Adhoc: Bank Sarasin + Cie AG / Independent Board Members to resign

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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19.06.2012

At the request of the independent Board Members and Rabobank, the
Board of Directors of Bank Sarasin & Co. Ltd has decided to convene
an Extraordinary General Meeting to be held as soon as the
acquisition of Rabobank's shares by Safra Group is closed. At this
meeting a new Board will be appointed which can assume responsibility
for the Bank.

The independent Board Members Christoph Ammann, Chairman of the Board
of Directors, and Peter Derendinger, member of the Board of
Directors, will resign on the date of the closing, which is expected
in July 2012. The remaining Members of the Board of Directors will
then be the two representatives of Rabobank, Sipko N. Schat and Pim
W. Mol, as well as Hans-Rudolf Hufschmid and Dagmar G. Woehrl.

The Board of Directors will convene an Extraordinary General Meeting
as soon as the transaction is approved by FINMA, the Swiss financial
market supervisory authority. This should permit an immediate
transfer of responsibility to a new Board of Directors, to be
appointed at this EGM, thus ensuring that Sarasin's supervisory body
can continue to function effectively in a very difficult market
environment.

At the beginning of the takeover process, the Board of Directors set
up a committee of independent Board Members (Independent Directors
Committee, IDC) to represent the interests of the bank and its public
shareholders. The Committee has endeavoured to ensure that all
shareholders are treated equally and to accelerate the takeover
process. In the months since the transaction was announced (November
2011), the IDC has found its ability to act increasingly constrained
and it can no longer fulfil its tasks. Consequently, the Committee
will disband itself on the date of closing and transfer this task to
the new Board of Directors.

For more information please contact:
Benedikt Gratzl | Media Relations
T: +41 (0)61 277 70 88 | e-mail: benedikt.gratzl@sarasin.ch

Franziska Gumpfer-Keller | Media Relations
T: +41 (0)44 213 97 35 | e-mail: franziska.gumpfer@sarasin.ch

Further inquiry note:
Dr. Benedikt Gratzl
Head of Corporate Communications
T: +41(61) 277 70 88
Benedikt.Gratzl@sarasin.ch

end of announcement euro adhoc
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issuer: Bank Sarasin + Cie AG
Elisabethenstrasse 62
CH-4002 Basel
phone: +41 (61) 277 77 77
FAX: +41 (61) 272 02 05
mail: info@sarasin.ch
WWW: www.sarasin.ch
sector: Banking
ISIN: CH0038389307
indexes: SPIEX, SPI ex SLI
stockmarkets: official dealing/general standard: SIX Swiss Exchange
language: English